In today’s Coffee…
Transforming Your Business
485 words, total reading time about 2-1/2 minutes
What would a transformation of your business look like? Would it be just money, like, making $100,000 more than you make today? Or would it be multidimensional…
Many small businesses are “owner-centric”, i.e., the owner is pretty much in the middle of every important event – meeting with prospects, doing proposals, presenting proposals (and then re-doing them), managing employees, writing checks. Things can get chaotic and, if there is success, even more chaotic as business activity ramps up. This leaves the owner with little time to actually run the business; the business ends up running the owner. The only apparent solution is to work harder, leaving even less time for personal fun and family.
Processes for getting things done in a small business tend to “evolve” over time, often depending largely on who happens to be working there as the process develops. Because the processes are more personality-based than strategic, they are often not scalable as the business grows. The outcomes are less systematic and efficient than they should be. “There must be a better way”, thinks the owner.
Few small business owners know much about the financial workings of their business. They can balance a checkbook, sure. They occasionally look at their P&L; rarely, if ever, at their balance sheet. Financial management revolves around the bank balance and if there’s not enough there the owner might even miss a paycheck. Even their CPA is not a big help – s/he knows taxes but has no idea about the economics of a CI business. The owner doesn’t want to figure this all out. Is there a professional who can?
How much to pay employees is a constant challenge. This tech’s been here three years, but a potential new hire wants more. Maybe the owner’s been told a project manager is needed; what exactly do they do and how much should they get paid? Uh-oh, the bookkeeper has threatened to quit unless s/he gets a raise. What’s right? What can the business afford? Do I bring in my spouse to do the books?
Process. Organization. Economics. These are the common challenges we see among CI companies, even those with more than $5M in annual revenues. But they can be addressed and overcome. That’s a process in itself, one that we’ve become very good at in our 15 years helping CI business owners transform themselves to business managers.
You might start by checking out the helpful management webinars we’ve posted on our website (click on the Bi4Ci Channel link on the homepage at www.bi4ci.com). Here, you can see a proven Bi4Ci business process in action, learn how to manage labor productivity, and much more.
You can email us about arranging a Transformation Assessment (only $297). You can call us – Steve in St Louis at 314-328-1250, Paul in San Diego at 859-492-9801.
We’ve helped hundreds of business owners over the years. We can probably help you, too.