FCB #017: Make Business Easier? Keep It Simple, Stupid!

Introduction

I often make things more complicated than they need to be.

If I could go back and do it over again, I'd keep things simpler. Much simpler!

There are several Business Operating Systems (BOSs) out there:

• EMyth
• Scaling Up
• EOS
• 4 Disciplines of Execution
• Great Game of Business

There are many others. They all have a lot in common.

Most repackage the same basic tools, but with fancy, catchy names.

Simplified Business Operating System

I want to help make things easier for small business owners.

Following is my simplified BOS. Just the basics: no fluff!

1 - Goal Setting & Strategic Planning:

• Vision & Mission Statements: Develop a clear vision and mission statement that aligns with the business's purpose and long-term aspirations.
• SMART Goals: Encourage setting Specific, Measurable, Achievable, Relevant, and Time-bound goals that are aligned with the overall vision.
• Quarterly Planning: Establish a simple quarterly planning process to break down annual goals into actionable initiatives.

2 - Financial Management:

• Budgeting & Cash Flow Forecasting: Implement a basic budgeting process to track income and expenses, and develop a cash flow forecast to monitor cash inflows and outflows.
• Key Performance Indicators (KPIs): Identify and track financial KPIs such as revenue, profit margin, client acquisition cost, and average revenue per client.

3 - Process Efficiency & Productivity:

• Standard Operating Procedures (SOPs): Develop simple SOPs for common tasks and processes to ensure consistency and efficiency.
• Time Tracking: Utilize time tracking tools or spreadsheets to monitor how time is allocated across different activities and client projects.
• Task Management: Adopt a task management system or software to track and prioritize tasks and assignments.

4 - Client Relationship Management:

• CRM Software: Implement a user-friendly CRM tool to track client interactions, manage leads, and monitor sales pipelines.
• Customer Satisfaction Surveys: Conduct regular surveys or feedback mechanisms to gauge client satisfaction and identify areas for improvement.

5 - Performance Tracking and Evaluation:

• Key Result Areas (KRAs): Define key result areas for each team member to outline their main responsibilities and performance expectations.
• Performance Scorecards: Create simple scorecards or dashboards to track individual and team performance against predefined metrics and goals.

6 - Communication and Collaboration:

• Team Meetings: Conduct regular team meetings to foster communication, alignment, and collaboration.
• Project Management Tools: Utilize project management software or online collaboration platforms to facilitate team coordination and project tracking.

Simple Business Assessment

Take one minute and rate your business on a 1 to 5 scale, as follows:

Rating Scale:

• 1 = Poor
• 2 = Fair
• 3 = Average
• 4 = Good
• 5 = Excellent

Print this out and for each business tool, circle your rating number:

• 1 - 2 - 3 - 4 - 5 : Vision & Mission Statement
• 1 - 2 - 3 - 4 - 5 : SMART Goals
• 1 - 2 - 3 - 4 - 5 : Quarterly Planning
• 1 - 2 - 3 - 4 - 5 : Budgeting & Cash Flow Forecasting
• 1 - 2 - 3 - 4 - 5 : Key Performance Indicators (KPIs)
• 1 - 2 - 3 - 4 - 5 : Standard Operating Procedures (SOPs)
• 1 - 2 - 3 - 4 - 5 : Time Tracking
• 1 - 2 - 3 - 4 - 5 : Task Management
• 1 - 2 - 3 - 4 - 5 : CRM Software
• 1 - 2 - 3 - 4 - 5 : Customer Satisfaction Surveys
• 1 - 2 - 3 - 4 - 5 : Key Result Areas (KRAs)
• 1 - 2 - 3 - 4 - 5 : Performance Scorecards
• 1 - 2 - 3 - 4 - 5 : Team Meetings
• 1 - 2 - 3 - 4 - 5 : Project Management Tools

If You Need Help

I struggled a lot as a small business owner.

I found something that worked and made all the difference for me.

It helped me scale my business and sell it for 7 figures, all cash.

If you need help to improve your business, reach out to me.

I'm Calvin Cummings, The Founder Doctor,

The Business Transformation Coach.

I care about you and your team.

You don't have to struggle.

Reach out for help.

Soon. Today!

I care!