Key Components in a Business – Part 5
This one is probably my most favorite section. It’s what I do best; it’s what comes naturally. After all, everyone likes doing things that they are good at.
Process is all about the way you do business. If you can document clear ways on how you do business, consistently refine it, and communicate it to your team to execute, you are off to a great start.
You won’t be able to get to the next level in your business if your process is in your head and not in your people’s head. You must get it down. Winging it as you go won’t work long term.
If you lack processes now, you can probably get by, but eventually, when it comes time to replace you in the business, the business won’t be able to stay above water. If your goal is to replace yourself in the business and hire others to do the work you are doing now so you can focus on growth or other fun things, you must document your process.
Putting It All Together
I was the sole owner of a $1,500,000 business and little did I know the business lived and died based on my results. A year into the business I took a couple of weeks off. When I returned, I found unsettling news.
I had a good scorecard, but I realized our sales numbers and metrics were off. After thinking about it, I discovered that I never documented my sales process the way it needed to be documented.
As a result, I was the best salesperson we had. I knew how to build relationships with clients, give them value, explain why we were the best, and figure out a way to show them how our product will get them what they want, typical sales 101. I was also the best at handling every single customer objection as well. The problem was when I was not answering that phone; we were missing opportunities.
Once I realized that truth, I went to work. First, I recorded every single sales call that I made. Next, I wrote down every customer objection I heard. After I had that step completed, I then took those sales calls and objections to form my process. To document it, I wrote our “Sales 101 Guide.” It literally documented everything in the book regarding sales. It even included audios of me in live sales situations so when I trained other salespeople, they had real-life examples of me doing it.