“Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations.”
~ Steve Jobs
Today I’m going to continue with tips about building systems.
Over the last 2 days, I told you the first two steps of the process:
- Step #1: Look at your current business processes
- Step #2: Develop your business systems
Today, I will give you step #3 which is to test and redesign your system
When I develop a new system, I like to complete it myself a few times in order to test it.
Importantly, when doing this, I look at the most challenging and/or time consuming parts of the system and then brainstorm ways to improve it. Consider this: if you create a process that allows a task to be completed in 9 minutes instead of 11 minutes, and that task is done twice a day by two employees, that improvement will save your company 49 hours of labor each year.
Also look for routine things that can be automated, such as the payment processing. For instance, manually writing customer receipts might take a minute while an automated register could create a receipt in seconds.
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:
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…
Today’s Question: Appropriately, which company’s NYSE symbol is ‘BID’?
Previous Question: Which gas station(s) are remnants of John D. Rockefeller’s Standard Oil Company?
Previous Answer: Exxon/Mobil
Exxon and Mobil are remnants of John D. Rockefeller’s Standard Oil Company. These brand names and gas stations are still going strong.
Mr. Rockefeller knew the importance of a quality product and how it would go a long way.
It is impressive sometimes how long a business can operate when it continues to deliver over decades.
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