Is Your Company Growing Fast Enough for You
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Are you frustrated by the lack of growth in your firm, or the
effort required to squeeze any up-tick in performance? Are
inadequate policies and procedures a root cause? To find out, take
this simple self assessment to see if this may be inhibiting real
growth at your company.
Q. Can you take an extended vacation without the company falling
A. If you answered no then you have a job and not a business. A
business must have a system of standard operating procedures to
ensure the work gets done correctly, even in your absence.
Q. Can your company handle a ramp-up in sales and
A. Hidden inefficiencies are often revealed when sales and
production increase. If low turns on accounts receivable and
inventory, long sales or production cycles starve your cash flow,
then something is wrong. Your policies and procedures should
document cycle times for your critical operating metrics.
Q. Can you effectively add more people to your organization?
A. Hiring people is simple compared to ensuring they know what
to do and have the resources to accomplish their job. Policies and
procedures provide the framework for a management system to oversee
new employees and communicate who does what by when.
Q. Does opening a new branch office, plant or facility create
A. Expanding your operations to new locations will test the
limits of your policies and procedures. Did you know that
franchises are four times more likely to survive than a start-up
primarily because they have a well defined operations manual? Are
you running your business like franchises run theirs?
Q. Is your family happy with your work life?ȍA. If your
business demands too many hours, too much stress, and too little
quality time with your family and friends, then you should do
something about it. A well defined system of standard operating
procedures can allow you take a vacation without worry, increase
sales with ease, add people to fill demand, and open new offices
without trouble. Then your family will be the happiest on the
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Article Published/Sorted/Amended on Scopulus 2006-06-08 23:34:47 in Business Articles