Once you have great people on board, how do you ensure they are actually working as a team and operating the way you want?
One solution is to sit next to them day in, day out, ensuring everything is running just the way you like it. However… no one starts a business to work longer and harder than they ever have before whilst not making any more money! Plus, you won’t be around forever, so this model has a major limitation on its future!
The best (and proven) solution is to set up organised systems so you can put the business into the capable hands of your team. If your team is running the business – without any loss of productivity – it is possible for you, the owner, to literally do what you want all day (golf included!), and still make the same amount of income.
Take a look at these few successful business owners who made sure their employees were working as a team and making money for the business:
● Henry Ford made money by systemizing production.
● Bill Gates become the richest man in America not by making computer software, but by inventing a system for selling software around the world without having to be physically involved in each of the transactions.
● The owners of NASCAR teams don’t drive the cars, they arrange a business model that maintains itself with the help of others, and then they make leadership decisions from a distance.
Taking inspiration from those examples, here are our 9 Steps to implement so that your team is running the business instead of you. Ultimately this process will help you create a shorter and more enjoyable path to personal and professional satisfaction and financial wealth.
Step 1: Define your vision
In one line, can you answer ‘why does your business exist’? What is the purpose of the business? Your Vision needs to be aspirational and always inspire your staff and get them to buy into it. One or two sentences is great.
Step 2: Define your mission
Your Mission is all about defining who you are as a business. Try to answer: What do we do? Who do we do it for? Why is your business special? What do you do differently? The mission will offer direction for future decision-making when needed.
Step 3: Define your culture
Having a strong and consistent culture in your workplace is critical for ongoing success. This ensures that not only do your team know what to do and how to do it, but that their behaviours are consistent and that they demonstrate a set of values in line with what you want from your business. Only once you define what culture you want can your staff truly begin working as a team.
Create culture statements that your team can benchmark their behaviour against. These are normally a set of words that are most important to you. For example, one of ours is ‘Integrity: We are ethical and honest and will do the right thing, even if it may be to the detriment of ourselves or our company. We are open and candid with our prospects and clients and always have their best interest in mind.’ We have 8 Culture Statements that you can view <here>.
Step 4: SMART Goals
Does the business have clear goals and does everyone in the business know what their goals are? Your goals must be SMART – Specific, Measurable, Achievable, a Result and Time-scaled.
You can’t work out where you want your business to go if you don’t know what you want the end result to be, so start with the end in mind. Think about your goals for the business and where it’s headed, and your goals will set the compass direction for your team. Ensure your team knows exactly what the goals are. For more information on SMART goals please contact us at ActionCOACH Sydney.
Step 5: Organisation Chart
Having an Organisation Chart in your business might sound obvious, but it is surprising how many businesses don’t have one in place. Is your Org Chart up to date and does everyone in your business know their reporting chain? Your Org Chart should make these reporting lines clear and they should also provide clarity around each person’s role in the company and what they’re accountable for. Plan with the future in mind, so feel free to have blank boxes within your org chart to inspire future positions.
Step 6: Position Commitments
Next, write a simple Position Commitment for every role in the business. A Position Commitment should articulate, in a single line, why that job exists. What key, overall outcome, does it need to achieve? List they key activities, processes and outcomes that that role is Accountable for. If no-one is accountable for it, there’s every chance it won’t get done!
Step 7: KPI’s and Accountability
Identify a handful of KPI’s for each position. What are the 4 to 6 things you can track or monitor (objectively) to know that a role is being done properly? Each role in your Org Chart will need its own set of KPI’s. Even better, define the rewards and consequences for KPIs being met or not.
Step 8: Procedures Manual
We are constantly surprised at how many businesses do not have procedures set out for their business. If the business knowledge is only in your head, what happens when you’re not there? This is a big risk for a lot of businesses.
Procedures help new employees settle into their roles more easily and give them a resource point so they don’t have to keep asking the same people repetitive questions when they are learning their role.
Putting these Procedures Manuals in place usually has the effect not only of making the business operate reliably – but also of improving the way it operates!
Step 9: Management Systems
Steps 1 to 8 are theoretically enough to ensure the business works perfectly: the team now understand what the business is all about (Steps 1 and 2), they’re behaving appropriately and consistently (Step 3), they have clear goals and plans (Step 4), everyone knows who’s accountable for what (Steps 5, 6 and 7) and they all know how to do it (Step 8). But, as the owner of the business (now sitting on your island soaking up the sun) you need to know that these steps are actually happening. Step 9, the implementation of Management Systems, is the glue that holds it all together.
There are several tracking systems that can help you manage the business even when you’re not there. Please contact us at ActionCOACH Sydney to discuss the best system for your unique needs.
At this point, not only will your team be operating the way you want without your day-to-day involvement, but you will have real confidence in the business as its own well-oiled machine. Setting up a business that can run without you frees you up to achieve so much in life or gives you the lifestyle you desire.
For more tips and guidance on working as a team, here’s a link to our eBook The 6 Keys to Creating a Winning Team or call us today on 02 9146 4439.