A few years ago I was given this golden rule of thumb when meeting business principals.
If we meet in their office and I get the tour, things are good. If we meet at a local cafe, not so much.
It’s a great yardstick and it works every time. Try it if you have business clients.
There are a number of reasons people fall out of love with their businesses, but I reckon a good 60% or 70% of them relate to what happens when a business gets too far along the growth journey without processes.
What I mean by processes is simply a way of having other people do things you don’t want to without having to train them or keep track of who is doing what manually.
The most common mistake of all is where I see business owners hire people in the hope it will solve the problem. It doesn’t and Bill Gates is one of many people who will tell you it only makes the problem worse.
Until you’re organised, it’s not recommended.
And when I say organised I mean:
- You’ve understood the 8 departments every advice firm has, even if you’re not a big business.
- You can describe the 10-20 core systems that sit underneath those department that will fuel success.
- Able to clearly define the purpose of each and how to drive successful outcomes.
If this sounds like big-firm stuff, it’s not. This is the stuff that enables you to become a big firm.
I recorded a quick video to give you a high level overview of how it works, but feel free to email me back at firstname.lastname@example.org if you have questions about a) how to do yours, b) how to involve your team in the process so they own it, or c) how to turn this into a dynamic operations manual/ intranet/ staff training resource.
And just one final message, if you’re an advice firm at an early stage of growth (ie. looking to build revenue and set yourself up for future profit), this may be right for you. We’ve taken our full Leveraged program, curated ten specific modules focused on starting right, seeking out revenue generating opportunities and setting yourself up along the way to transition to profit and beyond, and priced it so it’s very affordable. Click here for more info.
Want a next step?