What is the core of our businesses?
Our core is what drives the business (other than you!)
In this instance we are not talking about what you sell or what you offer, we are talking about your business model. It is your plan for the successful operation of your business, identifying sources of revenue, the intended customer base, products and/ or services, and details of how the business is financed.
Whether intentional or not, we all have a business model, it is what we are doing to keep the doors open. Problem is, many of us never really thought about it! Similarly, we will continue to operate and maybe even make a profit, but it will take years (if ever) for us to eventually figure out how we could have done it better!
How can we review our core?
- Get a thorough understanding of your business. Not just the operations but how every aspect (sales, purchases, inventory, payroll etc) of your business operates. E.g.,
Sales: lead generation, conversion to sale, invoicing, receipting/ debtors control/ banking and so on. Are you happy with how soon accounts are settled? If not, the process must be amended. - Develop systems for each aspect of the business and DOCUMENT them methodically. It must be detailed enough so that a new staff member can read and apply it with minimum intervention from senior staff.
- Train existing staff on the systems and communicate the consequences for non-adherence.
- Monitor and evaluate the systems and amend, as necessary.
The above process will require commitment, focus and time investment but the rewards will be phenomenal! Do not miss out on savings you could make and extra income you could be earning!
For further assistance, we are just a call away! Setup a consultation by emailing info@controlpro.works.