Consider These 9 Questions to Improve Your Business Processes and Operations
As we settle into 2022, we encourage you to reflect on your goals for this year and consider how you can improve upon both your business processes and operations.
Lately, we have been working with business owners who need an extra, unbiased set of eyes to review their business for improvements. In some cases, the business owner feels too comfortable and wants to ensure they are not blindly missing anything. As the saying goes, “We don’t know what we don’t know.” In other cases, the business owner is exhausted from being too involved in every process of the business. They simply lack the bandwidth at this point to address problems.
At Sebastian Lane Consulting, we help business owners see what is impeding their growth and make decisions that can ultimately change their business and life for the better. We do this by creating a proven & repeatable sales process that ensures your business will run smoothly and increases your time to focus on the overall vision and strategy. Then, we review your financial statements and business operations to determine how to increase your overall profits. Ultimately, we work with you to create a business that is both profitable and scalable.
If you feel too comfortable or are too caught up in the thick of your business, we encourage you to reflect on the questions below. And if you have any questions or concerns, please reach out. Our team is here to help you and your business succeed.
Here are some questions to consider:
1. Has your revenue increased, but profits plateaued?
We are seeing this a lot lately. The business is growing, but the expenses have as well. To the point that the profits have plateaued, and sometimes even decreased. In certain situations, this may be the temporary result of growing pains. But if you find yourself, like many others, making less money than you should, it may be time to have someone review your financial statements and business operations for improvements.
2. Is the wrong person in a key position?
Another common way to think about this question is, is the right person in the wrong seat? This is typically the case when a role was filled too early in the business. Perhaps your trusted business partner fell into a role that no longer fits their strengths. Consider what role is best suited for them and whether you need to hire or outsource for the open seat.
3. Are you not outsourcing where you can—and should?
If you are overworking yourself, you will not have the time to maintain your vision and strategize for your business. Consider what aspects of your business can be outsourced by an expert for cheaper and quicker than going through the hiring process.
4. Are you continually improving your client experience?
The underlying message of this question is, are you soliciting feedback from your clients about their experience and what else they want from your organization? You should constantly be improving upon your client experience to ensure higher satisfaction and increase the rate of referrals.
5. How effective is your current sales process?
Are there specific times in your sales process where your sales professionals tend to hit roadblocks? Or, an even more important question, have you ever written down your sales process? As sales process experts, we understand this question can be daunting. This is why we work with business owners to create proven & repeatable sales processes using their methodologies that empower their sales professionals.
6. Is your business scalable?
Or rather, would your business be able to run without you, no matter who is doing it? This goes together with your proven & repeatable sales process. If you want to grow your business, you need to figure out how to make it scalable.
7. Are you able to fully implement and execute your big ideas?
All too often, we see business owners have great ideas without the time to execute them. One of the best ways to increase your time is to delegate, outsource, and hire where needed.
8. Is your business undercapitalized?
If you have great ideas but lack the funds to implement them, there are a few options. You can seek out funding from private investors or loans from financial institutions. Or you can work with an advisor to see where the business can modify its expenses and increase its cash.
9. Should you, as the business owner, change your role in the company?
Or can you delegate more than you currently are? When running a business, it is easy to get caught up in the thick of it. We encourage you to take a step back and recognize where your strengths and weaknesses lie. Some of the most famous companies in the world involved a founder who changed roles or worked with a partner to help the business become what it is today.
We hope you found these questions thought-provoking and useful for your business. If you are interested in reviewing your business for opportunities for improvement, call Sebastian Lane Consulting at 443-534-6783 or email us at jesse@sebastianlaneconsulting.com to schedule your free consultation. Our team helps improve your processes and operations, so you achieve more independence while growing your business.