Save Your Self Time, Energy and Money!

According to Robert Kiyosaki in his book, Retire Young, Retire Rich

"An Entrepreneur is someone who sees an opportunity, puts together a team, and builds a business that profits from the opportunity."

As an entrepreneur, you saw an opportunity or realized a gap in the market and felt you had something unique to offer. This gave you the confidence to set up shop. As an entrepreneur myself, it is our passion, self-belief and sheer determination that carries us through in the first few years of starting up. But as any business grows, its requirements tend to be entirely different than from the start up days.

I want to share a simple word that could turn your business into not only well oiled machine, but also one that can roar through periods of growth and change. The word is SYSTEM. System is an acronym that stands for: Save Your Self Time, Energy & Money!

Businesses have processes in place in all of the various aspects of their operations such as sales, marketing, finance, customer service, logistics, human resources, etc. Those processes were developed over time by necessity as the business grew.

A common tendency among entrepreneurs is the need to do everything themselves, sometimes overlooking the value of time lost in doing tasks that can be delegated to someone else. As an entrepreneur, are you doing tasks that are taking you away from the very thing you most wanted to do in your business? Do you have any systems in place that would allow your business to run on automatic while you pursued your passion?

Can you imagine what your business would look like if you focused on what you want to do instead of working the processes that were implemented as a "quick fix" for the moment. There are vast amounts of money lost because of poorly run processes that use all of the owners time and energy. There is a solution. It is simply having SYSTEMs. And I assure you that there is a huge difference between having a process in place (which businesses automatically have) and having systems.

Before you can implement a system it is necessary to understand the four different aspects involved in a system that will run properly.

1. Understanding the flow of processes in your business. This could be information flow or procedural flow. This is like charting how one procedure or act flows into the other to make up the whole "way of doing things".

Take time to see exactly how one aspect of your business is run. Chart out the steps you are currently taking in any activity. Many times the procedures that are in place are there because "that is just the way it has always been done". And many times we don’t know why.

2. Aim to reduce human error. A good system would tend to minimise human error. Find steps or areas that can be automated. Although human error can’t be fully eliminated, some parts of the system can be.

3. Controls. These are the managerial process that can be implemented to make sure the systems are running optimally.

4. Accountability. A good system has individuals accountable for different aspects of it. Everyone involved in the processes needs to be aware of who is accountable for each aspect. Too many times, things are left undone because of a "it’s not my job" attitude lets details slip through the cracks.

Taking the time to implement all four aspects of SYSTEMs would Save you Time, Energy & Money and let you run a more efficient business

Smriti Sareen

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