7 Important Systems to Building a Hugely Profitable Business

Business activities are becoming more and more systemized. If you intend to grow your startup company into one that will proudly post millions in profits after tax annually you had better start setting up the necessary systems to actualize that. No matter how small or big your business is there are about seven strategic systems you ought to institute in your business process. They should in fact form the basis of your firm’s business process;

1) Production of Goods/Services: You should develop a proven system of producing the product or service that you intend to sell to customers. Without a process to repeatedly create quality products or services your business will definitely find it difficult taking off at full speed. Your production system shall ensure consistency of quality, ease of operations, and exploit continually lower costs of producing. In other words you must continue to refine your product/service development process.

2) Personnel System; Unless you run a one man business you will need an effective personnel system detailing what each staff is expected to do and the standard of work quality. Terms of work also are part of the personnel process. You don’t want a disgruntled worker suing your firm tomorrow for any flimsy excuse.

3) Accounting System; I have heard many business writers propose that the main cause of failure of most small businesses is their inability to manage cash flow effectively. If you are going to be making profits you must have efficient accounting system and procedures to help you keep track of every penny (revenue and expense). You could have an in-house accountant or hire one periodically to organize your accounts.

4) Lead Generation System; I’ve reserved the fun but difficult part for last. You are going to need continuous flow of customers to your business. Whether they are existing customers coming to make repurchases or new ones coming to buy for the first time, it is important that you develop a proven system that will ensure a continuous flow of qualified prospects into your business. The lead generation process will clearly direct prospective customers to take particular actions e.g. calling your office numbers, downloading a free report, ordering a free video course, coming into your place of business.

5) Lead Conversion; When you get a stream of prospects trooping into your business you will need to convert a good percentage of those to real customers will buy your products and services. Your lead conversion process may involve a series of steps depending on the nature of your business but on a general basis should start with collection of vital information of all prospects who indicate interest in your offering. It is essential that no prospect leaves your business without having obtained at least his/her contact information for future efforts at conversion.

6) Delivery System; Step by step system should be put in place to fulfill orders and deliver products/services on time. Few things irritate a customer as having to wait more than necessary for ordered products or service to be delivered. It I important to quickly and efficiently deliver with consistently high quality

7) Customer Service; Business with a particular customer doesn’t end with the sales. You must have ways for follow up service. There must be established procedures for handling customer complaints/needs, keeping customers in regular contact and getting recommendations from satisfied customers for use in future marketing efforts. The business must also regularly reach out to satisfied customers with information on new products and services they may be interested in buying.

About the author

Chuks

View all posts

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.