From payroll and project management to invoicing and inventory, business systems are vital to your organization’s efficiency and sustainability. Without effective systems, your team is likely to become bogged down by the countless small tasks they must complete on a daily basis just for your business to function.
While many basic processes may not seem like a top priority, business systems form the foundation of your operation and can mean the difference between success and failure. The following are a few of the benefits your company is likely to achieve by streamlining your operations with standardized systems:
Without business systems, every team member who completes a specific task or function is likely to do things his or her own way. And the results achieved are likely to vary widely depending on who is handling the task.
By implementing systems, you can ensure that whenever the same task is repeated, you’ll see roughly the same results. By taking variability out of the equation, you’ll likely achieve a much higher level of consistency with all of your products and services.
This not only makes your operation more efficient, it’s also attractive to clients, as they’ll know exactly what to expect whenever they do business with you.
By reducing how much employees have to think when completing repetitive tasks, systems make these activities much easier and quicker to perform. In fact, once they’ve gone through the process a few times, your team will likely be able to complete such tasks on autopilot.
This saves significant time and effort, along with freeing up your team’s creative energies, so they can focus more on activities with higher value and payoff.
By adding predictability, business systems significantly enhance your ability to adapt your company to change. With each step of a process spelled out, it becomes much easier to monitor and measure when and where modifications need to be made.
Whether the change comes about as the positive effect of growth or in reaction to some unforeseen challenge, systems can enable you to quickly assess and implement the needed updates.
When you have formal systems and processes in place, the training and integration of new hires becomes far less burdensome. It’s much easier to teach someone how to do their job—and do it well—if you have a set of standard operating procedures for them to follow.
Without documented processes for each team member’s job functions, you’re forced to teach new hires from scratch every time someone leaves or gets fired. What’s more, if someone on your team develops a highly successful way of doing their job, but no one else knows how that system works, your company could suffer in their absence.
Along those same lines, if you’ve developed unique or proprietary business systems, you should take the necessary precautions to ensure no one can steal or share those systems with your competitors. We can help you put in place legal agreements to make sure the systems you’ve worked so hard to create are safe from such theft.
Even if you’ve developed efficient systems to deliver your core product or service, your company is still at risk if it doesn’t have effective legal, insurance, financial, and tax (LIFT) systems. Indeed, without solid LIFT systems, your business is just one accident, audit, or lawsuit away from ruin.
Our LIFT Foundation System and Toolkit is specifically designed to help you integrate these cornerstone systems into your operations and provide your company with an unshakable LIFT foundation. Contact us as your Family Business Lawyer®, so you can take our free LIFT 20-Point Assessment.
This assessment will highlight the gaps in your current LIFT foundation that need the most attention. From there, you can meet with us to conduct a more thorough audit and implement the full LIFT Foundation System and Toolkit.
This article is a service of Angela Hayden, Family Business Lawyer®. We offer a wide array of business legal services and can help you make the wisest business choices throughout life and in the event of your death. We also offer a LIFT Start-Up Session™ or a LIFT Audit for an ongoing business, which includes a review of all the legal, financial, and tax systems you need for your business. Call us today to schedule.
Angela discovered the joys of taking deep breaths, stopping to listen for the sake of listening (instead of for the sake of waiting for a chance to respond), assuming the best of intent behind people’s actions, and general mindfulness after experiencing a major life change in recent years and brings a bit of that to every client interaction. She has found her life (personal and professional) and tennis game have improved dramatically as a result. Namaste!