Top Business Tip #3 – the reason why 80% of start ups fail

Why not listen? Business Tip #3

Never underestimate the power of putting systems into place in your business.  It doesn’t matter whether you’re the only one in your business, or if you’re one of many, you should a) have systems and b) document your systems. 

If you’re in business because you want to grow and develop a business that you can go on to sell, then clearly other people are going to have to know the day to day tasks and systems that are in place in your business that make it work.

How do you answer the phone, what process do you go through all the way from meeting a prospective client to closing the first sale, customer service and follow ups, who are your suppliers, what systems do you use with them?  How much of what you do can you automate, how much can you delegate or outsource?

Until such time as you go through and identify, quantify and document the systems in each area of your business, then what you have is a job and not a viable business that can grow successfully or be sold.

Even if you’ve no intention of selling your business, or growing it beyond you, you should still put systems into place.  It will free up more of your time, and means that if you become sick and are unable to work, then someone else can step in and take over – meaning that your income can still be generated while you take time to recover.