Hello Chasers,
In Chapter 8 of my book – ‘Chasing the Dream – How to Grow a Business in These Amazing Times’, I highlight how the fourth way to grow a business is designed to give you an insight into the increase in your business that could be achieved by improving the processes within your business – the way you do what you do, whether it’s serving customers, providing products or services, and so on.
This is what we mean when we talk about creating systems in your business – having a standard way of dealing with and handling all areas of your business documented so that another Team member can do this for you.
To understand the strength gained by improving processes, consider that each time you do you are more likely to have a customer come back and spend more. And you’re also more likely to generate new customers via referrals.
Creating systems and processes is the last but definitely not the least way to grow your business.
It’s this step that ties it all together.
Without it, it is very UNLIKELY that your business would achieve any of the first three ways to grow their business, which if you can’t recall are:
- Increase the number of customers of the type you want;
- Increase the number of times your customers come back; and
- Increase the average transaction value
Most business owners focus their marketing energy on winning new customers. However, looking after your existing customers and getting them to come back to your business more often is vital to the long-term health and profitability of your business. As is increasing your average sale!
To do all that, though, certain processes must exist within your business that creates a consistent efficient and pleasant experience for your customer and Team.
Building the processes within your business – for example, the way a customer is greeted in the store, the way the phone is answered, and training your team to understand the effects of this phenomenon – is required to take your business to the next level!
A business built with systems can operate without the owners being their everyday – just have a look at the 15-year-olds running McDonald’s!
Have a great day!
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