Monthly Archives: February 2016

Sytems Training Day

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We are told to systemise our business, right?
Well what does systemising your business mean to you?
Why would you want to systemise your business?

Is it;
To grow your business?
So you can take holidays and be confident that your business will still perform?
So you can increase the value of your business?
To increase profit?
Expansion and development?
To spend more quality time with your family?

O.K, so now we have identified some possible reasons your business needs systems, but how can we achieve this?
We have the answer……

Register now for our Systems Training Day, where you will learn; that there are only 4 types of systems you need, how to create systems to always get 100% out of your staff, the secret to creating more money while working less. This hands on educational program is on Thursday 3rd March, 9am at The Sunbury Football Club. To find out more and to register for this exciting event visit http://www.mcmahonosborne.com.au/www/home/

 

 

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How to always get 100% out of your staff

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Do you ever feel like you bend over backwards to help staff when they need it but as soon as you need them to step up their game and deliver 110% for something that’s important to the company, they just aren’t available?

Perhaps you feel like you’re spending too much time on boarding and training up new staff or constantly having to tell staff the same things over and over.
These feelings are quite common for business owners, particularly when their business hits a certain age. So the good news is that you are not alone in this. The bad news however is that this situation is quite likely to be entirely of your, the business owner’s creation.

I’d like you to ask yourself, honestly, what systems do you have in place to help staff know what they are supposed to do in a particular situation? What procedures/processes have you actually documented? Is there a reference guide somewhere that your staff can refer to if they are unclear on what to do next?
It’s natural in the course of the early stages of a business to find it challenging to build these systems – it takes time and energy that most feel is better spent working on sales or in business admin.

However if you want to get 100% out of your staff, as much as it’s possible to, then building a systemised approach to your business is critical.

This approach is why McDonalds as a company has such value. A franchisee can buy a franchise and staff their restaurant with high school kids, who with very little training can be working productively from day 1.

What do we mean by systems?
Systems cover everything in your business, not just the electronic systems (computers/software etc). Sure having great software to support your business process is essential, but that alone is not enough.
Every important process for each department in your organisation needs to be documented into a step by step process with a flowchart for the actions and detail on what it is that is supposed to be done at each action stage.
This sounds complicated but at a basic level it’s really quite simple. Collectively people in your organisation (or perhaps even you) have done all of the tasks involved with running every aspect of your business. Now it’s just a question of figuring out what the most efficient way is and then documenting this process in a step by step fashion.

Good luck with building your systems. If you need any help please let us know because we cover all of the possible systems, as well as the best implementation methods, pitfalls etc in our Systems Training Day Program. Visit http://www.mcmahonosborne.com.au/ to sign up for course alerts and more information or contact Lynda on (03) 9744 7144

 

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Work less, earn more, 3 essential things your business needs.

123 Blocks
This post assumes you have a business that is already making money selling products or services to customers who know they need what you are selling, and who have the financial resources to pay you.

A lot of entrepreneurs will tell you that when you start out in business things take twice as long and cost twice as much to get off the ground. A lot of that cost is paid in the currency of time. More specifically the Principle’s (MD/CEO) time.

At first there are business cards, phone and computer systems to buy and set up. There are templates, email addresses and a website to be set up. There are supporting services like an accountant, a lawyer and staff who need to be appointed.

And all of that before the ink has dried on the first “deal” the company closes.

Most companies get through this all consuming early start up period and charge headlong into the next phase of their existence: growth.

Now it’s time to hire more staff, initially to deliver the work created by the growth in sales from zero to a monthly sales target that grows each month. A lot of business owners at this point neglect some or all of the 3 essential things that every business needs in order to successfully transition in and out of the early growth stage.

It’s understandable that it happens when there already feels like there aren’t enough hours in the day to get the work done. However continuing to develop these 3 key areas is critical to success at this point.

Critical Element #1: Cashflow
Understanding the definition of the word cash flow and even how important it is to a business is a solid first step. For the purposes of compliance all legitimate businesses track revenue versus spend/income versus out-goings on an annual/quarterly basis.

However, significantly less track it in a live, up to the minute way that allows the business owner to make very quick decisions when it comes to making big purchases. Sometimes a business’s cash flow will allow a purchase to be made immediately. Sometimes waiting is required.

Having this business intelligence around cash flow will allow a business to make very healthy (for the business) decisions consistently.

How healthy is your cash flow management?

Critical Element #2: Great people
Any company is only as good as the least productive employee. Hiring great people by consequence is essential. Our advice is to hire slowly and fire quickly. In other words, create a fairly exhaustive hiring process and make sure everyone is on a trial period, from which only candidates you are certain will be excellent should be allowed to progress.
Have your candidates complete a questionnaire. Undertake numerous interviews with different people. Perhaps use an automated video interview as part of the process using a tool like this one ( http://www.sonru.com/ ).

Is there a piece of work you could give them to do immediately upon being hired that would give them a chance to really illustrate, not just their existing knowledge, but also their heart, commitment, work ethic and initiative?

Critical Element #3: Great Systems
If you take yourself out of your business, what is left? People, technology, branded stationary, a corporate legal structure. Without you, will everything else continue to work? If yes, will it survive and thrive, or will the company limp along like a 3 legged donkey?

Great systems make a business, but what are great systems?

Please don’t misunderstand, we’re not talking about software or business tools here. A great system is where you’ve tried something a number of times, found the best way to do it and then documented that process into a step by step system.

There are only 4 types of system in any/every business.

(we cover these extensively in our Systems Day Training Course)

McDonalds is a great example of systems implemented in every aspect of the business. It’s how they are able to employ thousands of young people with no experience or training and get them working profitably from day 1. Everything every new member of staff needs to know how to do has been broken down into a step by step system.

These three elements make up the foundation for a strong business but all three take significant investment of time. How is your business in these three areas? Do you need any advice/assistance with any of them?

Visit www.mcmahonosborne.com.au to find out more about our exciting Systems Training Day for small business.

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