6/1/2021 Tip: 6 Key Benefits of Building Systems

Today’s Quote

“If you want to reach a goal, you must ‘see the reaching’ in your own mind before you actually arrive at your goal.”
~ Zig Ziglar

 

Today’s Tip

I’d like to really encourage you to build systems in your business. Below are the 6 key benefits to doing so:

  1. Creating the system forces you to think through the process and improve it.
  2. Having the system in place allows for improved and consistent performance.
  3. Having the system in place allows you to quickly integrate new hires into your business.
  4. Having the system in place allows you to easily come up with and implement new ideas.
  5. Having the system allows you (the entrepreneur/manager/owner/etc.) to 1) take more time off, and/or 2) spend more time on higher value-add activities.
  6. Having systems dramatically increases the equity value of your business.

While building business systems takes time and often does not immediately put cash in your pocket, the 6 key benefits above will pay for themselves over and over again and are definitely worth doing. So start systematizing your business today.

 

Today’s Resource

How to Build a $10 Million+ Company

What’s the difference between successful multi-millionaire entrepreneurs and the typical small business owner just struggling to get by?

Well, there are a LOT of differences, actually…

But I’ve summarized the main differences on this page:

How to Build a $10 Million+ Company <—- 

The really interesting part is that you don’t have to work yourself to death to grow a wildly successful, eight-figure business…

In fact, when you follow this formula, you can make much more by working less…

How to Build a $10 Million+ Company <—- 

 

Trivia

Today’s Question: If you have to name one person associated with the Bangladeshi micro-financing institution ‘Grameen Bank’, who would it be?

Previous Question: What type of “helpful” businesses operate on the basis of the Rochdale Principles that were formulated in 1844?

Answer: Cooperatives (also called “Co-ops”)

The implications of the Rochdale Principles, which state that co-operative societies must have an open and voluntary membership, are a focus of study in cooperative economics.  

Cooperatives are independent but work together to meet the needs of a specific community. How can you work with another company or individual to make a shared community better? 

Join our Tip of the Day

To get Growthink’s Tip of the Day delivered to your email inbox, enter your information below:

[for="inf_misc_Pleasegiveusabriefoverviewofyourbusinessandorcurrentchallenges"]
[for="inf_misc_Pleasegiveusabriefoverviewofyourbusinessandorcurrentchallenges"]
[for="inf_misc_Pleasegiveusabriefoverviewofyourbusinessandorcurrentchallenges"]
[for="inf_misc_Pleasegiveusabriefoverviewofyourbusinessandorcurrentchallenges"]
[for="inf_misc_Pleasegiveusabriefoverviewofyourbusinessandorcurrentchallenges"]
[for="inf_misc_Pleasegiveusabriefoverviewofyourbusinessandorcurrentchallenges"]