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“TEACH” Your Business to Work For You! – And Make Money in the Process

Have you ever heard yourself say…

“My business can’t operate or function without me.”

“I’ve got to be there, or else we would close down.”

“I’m the only one that knows what to do.”

“No one else can do it like I want it done.”

“My staff doesn’t know how.”

“Without me there, my business is doomed to fail.”

Most business owners, and even managers, have probably uttered these very same words, or some near equivalent.

I know I did.

In fact, many business owners and managers still feel that way about their business.

But what if things could be different?

Things CAN be different depending upon how you answer this question:

“How can I get my business to run without me?”

Any business can operate profitably …without you.

Just “TEACH IT” how!

How do you, the business owner or manager, “teach” your business to run and function profitably, whether you are there on the job or not? Have others been able to teach” their businesses to run without them, and yet still be profitable?

The answer is an emphatic, and exciting “YES”!

But how, you ask?

Your “Business Operating Systems” are the answer!

You must design and implement “Business Operating Systems” for running each area of your business.

What do I mean by “Business Operating Systems”?

Well, take a tip from the King of Hamburgers…McDonald’s.

Whether you love their burgers and fries or not, you should love the way McDonald’s has established a “system” for operating each franchise. McDonald’s has systematized its operations so that even a high school student can be “taught” to make hamburgers that taste the same way, every time, night or day, and no matter where in the country that particular McDonald’s franchise can be found.

It’s like running the business on autopilot…, whether the business owner or manager is there or not!

You see, McDonald’s trains their new recruits to follow its operating system. And despite what has been reported as nearly a 200% turn-over rate, McDonald’s franchises are still very profitable no matter where they are located because new employees can easily learn

to follow the company’s “Business Operating Systems” (and profitable ones they are).

Writing out the exact procedures that make up your “Business Operating Systems” in each area of your business is the CRITICAL step if you want to”teach” your business to work for YOU!

Why not follow a mastermind model of business success?

One of the great masterminds of business, Ray Kroc, followed this very same process with his hamburger-making operation. He designed “operating systems” that worked over and over, no matter who was cooking the hamburgers, who was at the cash register, and who was managing his hamburger business. As his operating systems improved, so did his sales, and his bottom-line profits! And as they say, “The rest is history.”

Why not follow this “systems” process as well?

Design your ideal “Business Operating Systems”. They’re a MUST if you want your business to grow like YOU want it to, and make money in the process.

Okay, let’s do it!

What are the steps you can you take right now to “teach” your business to work for you?

What must you do to develop your unique, custom-tailored “Business Operating Systems”…, ones that “teach” your business how to grow and make money in the process, just like YOU want, and whether you are there on the job or not?

The SECRET lies with your employing the process outlined as the “5 W’s PLUS!

To begin developing your unique, and custom-tailored Business Operating Systems, answer the questions that are derived from the “5 W’s PLUS“:

Who, What, Where, When, Why” PLUS “How”

Developing Your “Business Operating Systems”

The 5 W’s PLUS Process In A Nutshell

Begin the process of developing your very own “Business Operating Systems”, by asking:

1. Who is involved with each facet of your business?

2. What is involved with performing each facet of your business?

3. Where is each facet of your business performed? Where does the action take place?

4. When is the action performed?

5. Why is the action performed?

PLUS

How is the action performed for each facet of your business? Analyze HOW each facet of your business is presently functioning.

Now let’s apply the 5 W’s PLUS process in your business.

Let’s look at just one facet of your business…, your initial contact with your customers.

I call this stage of a business, its “Customer Contact System”.

Let’s try working through the process now.

Take out a sheet of paper. On the top, write out the words, “Customer Contact System”.

Now on the left side of the paper, write out the 5 Ws PLUS

*** Who, What, Where, When, Why, plus How ***

Now for your “Customer Contact System” that you currently employ in your business, write out answers on the right side of the paper to the 5 Ws PLUS.

HOW DOES FOLLOWING THE 5 W’s PLUS PROCESS BENEFIT YOU?”

As you write out your answers, you are starting to design an outline of what can become your very own “Customer Contact System”.

Now look at your “system” and see where in the process anything can be improved. What different actions, people, or timing can be changed to improve the operation of the “system”. Make whatever changes to the current operation of your “system” that are necessary so that that facet of your business now runs just like you want it too.

If you are careful to write out exactly what is being said, by whom, and at what time or stage of the operation the action is being taken (in other words, the 5 W’s PLUS) then you can thereafter instruct your staff to follow the steps written out. Soon, the steps become a “routine”…, an operating system. The more the “system” is followed in the typical circumstances that come in your business, the more your business starts to run on autopilot!

The more your business implements the “systems” approach, the more it will be operating in the manner that YOU always wanted, just like YOU have always wanted, and whether YOU are there on the job or not!

Follow this process for each facet of your business operations. For example, consider applying a “systems” approach to your Customer Generation, Marketing, Customer Service, Product or Service Delivery, Accounting, and even Collections.

As you work through this process, keep in mind how you ideally WANT your business to operate.

Write out your answers and clear instructions for your staff to follow.

It’s a great idea to get feedback from your staff as you go through this process. They may offer additional suggestions for operating your business in ways you may not have thought of.

Do this for every facet of your business.

The 5 W’s PLUS process can especially work wonders in your Sales department. Direct your sales staff on how specifically to increase sales by reciting pre-designed, powerful closings that have been proven to be the most persuasive with your customers to bring in the most sales!

You may be thinking, “But, this all sounds like it’s going to take some time to write out.”

Yes, this process could take a little time. But the end result will be financially well worth it.

And consider this. The development of your “Business Operating Systems” using the 5 W’s PLUS process will provide clarity about exactly how YOU want your business operations to run…, whether you are present there on the job, or not!

Your business WILL then be running on autopilot!

Does it still sound confusing or a little complicated?

Just remember that the process boils down to just following 6 specific steps.

And when you follow the 6 Steps for each area of your business, you will be forming the framework of your “Business Operating System” for that specific area of your business.

Are you ready to start the process now?

Okay, then here are those 6 steps to follow.

6 STEPS TO DEVELOPING YOUR

“BUSINESS OPERATING SYSTEMS”

1. Write out on a sheet of paper all of the various areas of operations that currently make up your business.

2. Ask Who, What, Where, When, Why, and How each facet of your business presently functions.

3. Write out your answers, and place them in a binder for future reference.

4. Carefully and strategically determine how you WANT each facet of your business to operate; that is, if it did so exactly as you wanted it to.

5. Next, you must take the time to write your answers to #4 above for each operating function of your business. The key is to write out these functions in a clear and explicit way so that your staff can read through the steps, and then easily follow them. As you complete this process, you are creating a “system” of operating your business, in the exact manner that you want.

6. Repeat Steps 1 – 5 above for all other remaining areas of your business. Your answers will soon develop into a “Business Operating System(TM)” for every area of your business where you follow this process.

That’s it. Just those 6 steps to apply as you follow the 5 W’s PLUS process.

Those are the 6 Steps how to “teach” your business to work for YOU!

You must design your very own “Business Operating Systemsfor your business.

When your staff starts to follow the exact procedures you have outlined in your “Business Operating Systems”, that’s when you can give everyone an “A” for their efforts… because that’s when you will have “taught” your business well.

That’s when you can really say that your business does “work” for YOU…, whether you are there on the job or not!

This article is an excerpt of the MasterMind Business Growth System, as authored by Business Growth Expert, Miguel Mendez, Jr.

Copyright 2008. Miguel Mendez, Jr. All rights reserved.

Retirement Investing – Use the Force Luke!

Retirement investing has one major question for everyone and I’d bet that if you ask 100 people the following question, you’ll receive close to 100 different answers.

What’s the question? Well, it’s not that hard.

It’s – “When is the right time to start investing?”

A simple question I’m sure you’d agree – but the answer can cost you a LOT of money – and the loss is purely down to how long you wait before you start saving!

Let me explain a little!

The honest fact is that nobody truly knows the right time to start investing for ‘random people’. So how do you know when it is your best time?

Well, to borrow a line from Star Wars, “Use the force Luke.”

Now the force in this answer isn’t some invisible cosmic energy, but instead is the investment force of compound interest.

First, it is very important to understand the difference between simple interest and compound interest. Simple interest can be figured by taking an initial investment that earns interest annually for a period of, for this exercise we will say, two years. After the first year you have your original investment plus the interest. In the second year you have the initial investment plus the interest for the second year, the interest from the first year is not added. Your interest is not being compounded so you are not earning interest on the interest that you have already earned.

This is what I’m talking about, this is the force. Compound interest is a force because you take that initial investment and earn interest in the first year, then in the second year you add the initial investment plus the interest from the first year and earn interest on the whole amount. The smart investor will always try to find a good situation with compound interest against a great situation with simple interest. With this knowledge it is time to see the difference between those who do use the force and those who do not use the force.

Bob starts saving at the age of 24 with a zero balance and contributes $200 monthly until retiring at the ripe old age of 65. By using an average annual rate of return of 12%, Bob can retire with $2,061,941.74. Bob will definitely be able to retire with comfort, the comfort of being a multi-millionaire!

Now let’s consider those who do not use the force.

Carl starts saving at the age of 40 and because dear old Carl is further in his life, we can assume that he started with an initial investment of $10,000 and contributes twice as much, $400 per month, with the same 12% average annual rate of return. Carl will retire at the same ripe old age of 65 that Bob did, but with a significantly smaller $886,803.53.

Now, that is definitely nothing to be ashamed of by any means and unless he has a very expensive habit such as buying first edition comic books – good old Carl is in for a happy retirement.

But it does demonstrate the importance of using the force!

Bob started younger, paid less, and used the force to the tune of almost three times as much money for retirement.

Now you have been empowered, you understand what the force is and how to use it. You understand the importance of starting early and earning on your money, then earning for your earnings.

Use the force! It’s no fluke Luke, I can assure you!