Systemizing Your Business - You Can't Improve What You Can't See
What do you measure in your business? Is there something that you monitor on a regular basis that tells you how your business is performing? If not, then you are unfortunately missing out on some great opportunities. You see, there is a saying in business, that "you can't improve what you can't see", and that is exactly what we mean by measuring important things in your business so that you can see what is working, what isn't. The beauty of this is that when you know what is working you can keep doing more of it on a much larger scale, and the things that you know aren't working, can be stopped instantly if you are measuring them and you won't waste days or weeks, wondering if they are going to turn around.
For example if you don't really know where the majority of your customers are coming from, you're literally flying blind because you're not able to continually tap into that source. If you're not measuring anything in your business you won't have any idea what marketing and promotional campaigns are working, how well your sales people are doing, or even how much each sale is costing you.
Measuring certain key things in your business gives you the power to make good decisions. You'll know what marketing works for your business, and where you need to spend money and where you should avoid spending money.
Another highly valuable piece of information you'll discover when you start to measure what's happening in your business is you'll begin to understand where you greatest leverage point is, that is where your greatest opportunity for improvement is.
For example, it may be that you're getting customers in the door, but they're not buying, or it may be that their buying but their buying all your cheap stuff, or it may be that a customer buys from you once and never comes back. There are all things you can be measuring in your business. Once you know where you need to focus you have the power to make good informed decisions and you can start to put systems and processes in place to make it work better. This is where the real hidden gold lies, where the untapped opportunity for improvement is - when you have systems and processes that virtually guarantee you consistent and predictable results, then you are on the road to success.
Key Takeaway: Starting today, begin measuring the important things in your business so that you know what is working and what isn't. Start by measuring the amount of leads you get, and how many of those turn into customers (your conversion rate). From this work out which marketing and promotions are working best for you and upscale them - make them even grander, and immediately stop any marketing and promotion activities that are not generating cashflow.
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systemizing small business
,small business performance
,small business conversion rate
,small business measurements
Deal structure, financing, and tax management must be a proactive process that is addressed at an early stage. In many cases the Seller and Buyer often place all of the focus on the transaction price at the expense of the ‘net results' of a business transaction. By carefully negotiating the terms and structure of the transaction, a business seller could walk away with a deal that provides a significantly larger economic benefit than a transaction that provides 100% of the proceeds at closing.
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I will assume that you are starting your PPC work on Google and base this tutorial on the Google interface and tools. Good PPC is based on relevance, never forget that you are after conversions rather than clicks. Google will always give good advice on how to optimise your campaigns but this advice will always be based on Google's goal of increasing traffic and their target of maximising revenue per search on the engine.
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The key reason why some firms thrive while some implode during an financial recession is still a puzzle to many people business-owning business owners. Some wrongly assume that all businesses should suffer via recessionary cycles. But the truth is that some companies are usually essentially recession-proof, and it is not necessarily because they are much larger, better known, or a lot more generously capitalized.
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Effective systems management is carefully thought out and orchestrated to get you the results that you expect. It is a demonstration of moment to moment control. It allows you to live in the moment and not constantly of the edge of crisis, where you're floating along, fingers crossed that everything will be OK.Your focus as a business owner must be on the proactive management of systems, rather than on coping with random system results.
Getting clear on what you want your role to be in your business is essential if you are ever to take yourself out of the "doing" mode of operating and into the "entrepreneurial" mode of operating. As a business owner, you need to be thinking like an entrepreneur. But what does thinking like an entrepreneur mean? Well it means having systems in place to run your business and having the right people to run those systems.
Take the time to think about systemizing your business like any other project so you can see the possibilities that you could do from an end to end perspective. When you do approach systemizing your business as a project, you are working in a structured, planned and logical way where you can see how processes are interlinked, where there are opportunities, what's a waste of space, and what you really need to be focusing on.
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