“Tell the world what you intend to do, but first show it.”
~ Napoleon Hill
There are several reasons why you’d want to build systems and processes in your business. The main ones are:
- Precision and consistency. By having set business processes for how tasks should be completed, you will get consistent quality results.
- Time and money savings. When employees know precisely how to do something and do it the same way each time, they eventually become much better and faster at performing the task. This saves time and money, and gives you a competitive advantage.
- Scalability. When you have set processes for completing tasks, it’s much easier to hire and train new employees and grow your business.
- Free your time and build business value. Developing and implementing systems allows your business to run without you. This frees up your time to focus on building your business further (and taking time off) and makes your business more attractive and valuable to potential acquirers (because it’s not dependent on you and the acquirer can see how the business could continue to scale and provide value).
Each of these are compelling reasons to build systems and processes in your business, and is why building systems is one of the pillars of an 8-figure business.
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: What present-day tradition, that is a favorite among most companies’ employees, originated in the U.S. Navy in the 1920s where it was a slang term for a scheduled entertainment period?
Previous Question: The symbol of what world currency is derived from the Latin word for scales/balance?
Previous Answer: The British pound.
The symbol derives from capital “L”, standing for libra, the basic Roman unit of weight, which is in turn derived from the Latin word for scales or a balance.
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