Christian Business Coaching Expert Gives the Advanced Stages of a Business
Christian business coaching expert Tim Redmond will now reveal what a business looks like after they’ve established the processes everything is working well and the business is in the advanced stage. In order to get to this point the business has already established all of the key processes which include marketing, sales, delivery of product or service, operational excellence, establishment of KPIs in every key department with accountability being held on those KPIs, and the proper tracking of the accounting and information systems. Christian business coaching
When a company has established scalable systems and processes in each of these key areas which also include hiring inspiring and firing process, they are ready to move on to the advanced stage of their business. This gives the business owner financial freedom and time freedom that his heart so longs for. So many times when the business owner starts a business they do so to gain financial freedom and time freedom. However as the business grows, so does the business dependency grows upon the life and time demands of the business owner. Power to Create. It turns into owning a business to a business owning the business owner. This does not have to be. This can be avoided simply by establishing the systems that Christian business coaching expert Tim Redmond sets up and perfects with the business owner and his or her team.
In order to set up the business properly, there has to be massive and clear delineation of all of the processes, procedures, and checklists. This allows for new employees to be trained and held accountable very quickly. It also sets up a system that identifies poor performers and those that do not conform to the culture of the company. You get the business running where it is not dependent on the business owner. Tim Redmond agrees with the quote that Warren Buffett said many years ago. Power to Create he said, I tried to buy stock in businesses that are so wonderful that an idiot can run them because sooner or later, one will. Christian business coaching
When you get to a point where your business is running and growing and correcting itself without the business owner’s direct involvement, that provides the owner with a number of options from which to decide. Looking back, the business has gone through what Elon Mosque refers to as the top part of starting a business which is like eating glass. They paid the price to make sound decisions in a timely basis. They’ve attracted the right employees and train them well. The business systems that are set up holds even the top performing employees to a high level of accountability. Which by the way, top performers like accountability because it brings out the very best in them. It also identifies those lower slope performers that really don’t fit into the company culture nor the pace at which the company grows.
There are a number of options that the business owner now has. He or she can number one decide to sell the business and get a very good price for that business. Why? Because the business systems can run without reliance on the business owner being there. This is very attractive to investors who are constantly looking for businesses that they can invest in and make a great rate of return. Was very important to these investors is the operations of the company is not dependent upon the investors time running the operations. The more independent company becomes from the business owner, the more valuable it becomes to outside investors. Christian business coaching
Another option that the business owner has when the businesses in the advanced stage of established, duplicatable, and scalable systems and processes is that he or she can continue to grow the company and increases both its topline and bottom-line numbers. If the business owner really enjoys the business, and enjoys the interaction with the employees and the customers and the vendors, then why should the business owner sell the company? There are many business owners that bring their business to an advanced stage and then get a very attractive offer. When they should offer, they’re quick to sell the company and later regret it. They didn’t realize how much they enjoyed interacting with their employees, customers, and vendors. If you are a business owner that enjoys your business, don’t be so quick to sell it when you get it to the advanced stage.
The last option that this article will discuss of those business owners that brought their business to an advanced degree of progress is moving from a business owner position to a business investor. What does that look like? Is the business owner taking a passive position of rarely coming into the office and interacting with the people in the business. The business is able to provide them plenty of profits and gives them the security and comfort of knowing that the businesses been run well in their absence. Power to Create With this option, it is assumed that you have a powerful and effective leadership team in place that is no longer reliant on your day to day input. you got the entire company built on processes, systems, checklists, and procedures and not built on individual people. In addition, you have created a number of controls they keep your team accountable on a daily and weekly basis to make sure they’re getting the right things done in the right way at the right time. Christian business coaching Power to Create
In any event, when you get your business to this advanced stage where it is run by an experienced leadership team committed to the processes that you’ve created to cause the business to maintain high profitability, it puts you in a wonderful position of being able to choose how you want to approach your future. If you would like to know the specific steps on how to move your company to this advanced stage, please contact Christian business coaching expert Tim Redmond at 918-361-3047 and he will provide you the guidance that you need. Power to Create