Most business owners want business growth. However they find that they are often too busy running it and have an attitude such as "If you want something done then you've got to do it yourself!"
That maybe true to some extent but I would ask that you check that you have honestly tried to replicate yourself by introducing systems to your enterprise and your team. Even if you have done this, when was the last time you tried to improve it?
Here are some benefits if you do manage to nail it.
Figure 1: Take the time to sit down with your team and automate every aspect of your business until you get it close to perfect - business valuers will love it!
1. Better Customer Retention
Show me a business that has a high level of customer retention and I'll show you a business with an excellent policies and procedures manual. Customers want certainty and consistency when being dealt with. If they start to feel that anything can happen when they come in to have their problems solved it creates doubt. Things are more likely to go wrong without a process which leads to more time-wasting and even having to offer things to keep them happy (sometimes even discounts!).
2. More Family Time
Think about it. If the business is less reliant on you, you can have more time off knowing that being there 24/7 is not going to necessarily increase profits or stop the business from falling over. This means you can have more time off or maybe even afford to put somebody else on to do some of the things you would normally do yourself.
Figure 2: Spending more time with your friends and family is usually the default position.
3. Higher Small Business Valuation
Businesses with great systems manuals and low owner reliance have much better business valuations fro business valuers than those that don't. Purchasers want less risk and knowing that the knowledge and ability to keep customers long after you've gone will create a premium when deciding how much to pay you.
4. Higher Levels Of Profitability
Most small business accountants will tell you that businesses with great systems and processes have much higher levels of profitability. Success leaves clues and this is definitely a very common trait. With more time available to you, you can concentrate on strategic planning and growing the business which in turn will lead to more black ink to the bottom line.
5. Employee retention
Like customers, employees like certainty also. A business without systems can become a rabble with staff doing all sorts of things different ways and leaving the poor old customer to wonder what in the hell is going on!
If everybody is clear as to what is expected and how things are to be done, they will feel the comfort of a much orderly organisation that is on the way to reach its goals.
6. Lower Stress Levels
I believe most stress is caused by lack of preparation and being disorganised. A strong policies and procedures manual will definitely lead to less stress.
How systemised is your business? Imagine the benefits of taking the time to try and get the whole enterprise working like clockwork and having the ability to deal with almost any situation including a crisis?
When was the last time you revisited this facet?