Small Business Strategy: Systems, Controls, and Accountability
Posted by Chris Nesbitt on Fri, Nov 18, 2011
By: Chris Nesbitt, Client Advisory Director at Huntington Copper
In order for a small business to succeed in the long-term, it must have a strategy for success. A successful small business strategy will have to ensure not only that it makes money, but that it can grow as well. Key components of any small business strategy are systems, controls and accountability.
Not Having to Reinvent the Wheel
Your small business strategy should implement systems. Systems provide a systematic, predictable approach to common tasks or problems. They help to cut down the amount of time required to do those tasks by offering a previously worked-out infrastructure. One of the simplest systems to incorporate are email templates. They can range from thank you emails to reminders of upcoming meetings; email templates can save you time by not requiring you to reinvent the wheel.
More complicated systems can include company policies and guidelines, sales and marketing procedures, customer-complaint procedures, or accounting systems. Whatever the system need, a successful small business strategy ensures that the system works regardless of who is implementing it. Not making it dependent on a specific person's skillset will free your time up and allow for greater autonomy.
Controlling the System
In allowing systems to take on a greater leading role in how your small business employees act in given situations, it's equally vital to implement effective controls. The primary small business strategy for control has been usage of managers. But a more effective, and less heavy-handed, method is via a company's culture. Successful businesses often instill dedication in their employee case by offering a company culture they want to belong to. Google, Southwest and Zappos are great examples where employees dedicate their time and creativity to the company beyond what is asked of them because they buy into the culture and company mission.
Stay True to Your Business With Accountability
While these are all things that can ensure a business is successful, they won't be able to help you unless you actually implement them. Being flexible is important, but a small business strategy reliant on simply "winging it" whenever a new issue crops up won't get the business very far. Ensuring these methods are implemented requires accountability. Business advisors and coaches can help you stay on track. Consult with a business coach or mentor and be accountable. It'll help you not only stay on task, but your business flourish as well.