It is vital in any economic climate to take advantage of every business opportunity that comes your way – and to seek out new opportunities as your company grows. However, it’s also true that companies miss opportunities all of the time, either by negligence or by being too busy to take advantage of them.
Opportunities come in many different forms, from a new business connection to social media accounts. You can probably think of a dozen places from which your company has found an opportunity.
Are You Losing to Inefficiency?
Business inefficiencies cause some of the most substantial missed opportunities in a company. In fact, most missed opportunities are due to inefficiencies. For example, a misused CRM can mean that potential clients get lost or slow service may lose you a client.
Inefficiency is the bane of many companies.
However, there is a solution for not only resolving a large percentage of inefficiencies but also preventing them in the future. That is, implementing and documenting effective processes.
Process development and implementation
You likely have processes in place for various parts of your company. For example, your marketing team may send out a weekly newsletter or your accounting department may pay invoices on a dateline.
This is all well and good, but what if you had that level of efficiency in every aspect of your company? Things would run smoother, clients would have consistent interactions, and customer experience would remain consistent.
In fact, well-laid processes can even translate to larger changes as you pivot to evolve with a fluctuating economy or worldwide health crisis. During this time, well-established processes can be modified and the related business statistics can be tracked to see if the process needs to be modified further or if it is working well.
This brings us to documentation. It’s vital to document every step of the way so that a process can be replicated. We would go so far as to say that there is no process without documentation.
Any process documentation system needs to have three attributes:
It needs to be accessible to everyone who uses it.
An employee looking for a process for a particular situation should be able to find it.
3. Be Replicable
Not only does the process itself need to be something that can be replicated, but the way it is documented needs to be replicable. Your employees need to be able to document new processes and modify existing processes as your company further streamlines.
Capturing Missed Opportunities
Whether your business is evolving with changing times or growing stably, you need to be capturing every growth opportunity. This may be in the form of a new client, a new vendor, a better system, or any number of beneficial circumstances that can give you the edge.
The best way to do so is to create processes and systems that stabilize your current business model, then modify them to capture growth opportunities and to conform with changing circumstances.
Business Success Consulting Group is the process consultant expert you have been looking for. Contact us today to find out how we can streamline your business.