Time and Process

 

One of the ways to make a business grow is to make it more efficient.  One method for that is to look at the processes within your business and seeing where the most time (and potentially dollars) are spent.  By optimizing your business processes, you will improve your focus on those items that are most important to your business.

Even the smallest businesses have at least 3 processes:  Attracting Customers, Delivering Products and Services, and Administering the Business.  For most small businesses will spend the vast bulk of their time in the first of those two processes.  They are either landing business or delivering it.  Business Owners spend a lot of time on what they do in their business and the industry that they are in.  I am going to attack the other primary process of all business Attracting Customers.

Attracting Customers really consists of 3 sub-processes:  Marketing (turning the Audience into Prospects), Sales (turning the Prospects into Customers), and Customer Retention (receiving additional Revenue from Existing Customers).  Each of these is somewhat independent of the other but can be improved by ensuring that the processes line up.  But let me focus down simply on the Marketing sub-process.  Are you clear on the channels that you use to market your business and how you expect the audience-at-large to become Prospects?  About how many Prospects per month are you expecting from each Marketing channel?  What is the out-of-pocket cost is there for each prospect?  What is the time required to receive the prospect?  How often does each type of prospect become a customer?

When you examine the results of these questions, you can begin to put numbers on the business.  By doing that, you can direct your time (the most valuable resource that you have) towards Marketing channels that give the best results.  Those efforts can, in turn, be understood in metric terms (How many appointments do I need to set in a week?).  You can see how you can look at your business and understand how the things that you do every day can drive bottom-line results.  Those best activities become those things to focus on for the future.  Lesser activities can be outsourced, re-engineered, or eliminated.

Doing that in your business gives you a head start on doing the most important things in your business.

Have a great day!

Jim Sackman
Focal Point Business Coaching
Business Coaching, Leadership Training, Sales Training, Strategic Planning

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