A lot of businesses fail because they can’t promise their customers they’ll always deliver what they say they will.
That’s why it’s important to implement systems across all aspects of your business to create consistency of experience.
Why is Consistency Important?
Customers should receive consistent messages no matter whom they interact with. When a business implements and follows proven processes and routines, the company is consistent in the eyes of customers and its team.
How do we achieve Consistency?
Consistency depends on developing disciplined behavioural habits in three critical areas:
- Financial Controls
Let’s briefly look at each area.
Instead of relying on workers alone, businesses need to rely on skilled workers who maximize outcomes by following proven processes.
- A process has clear documented steps.
- It has clear expectations of what the results of each step should look like so everyone knows when it’s time to move on to the next step, and what the entire process looks like when it’s complete.
So where to start? The first steps are to have an annual budget and cash flow 12 months out. This way you can schedule large payments, prepare for cash gaps and can see straight away what impact any significant investment or increase in costs may have on cash flow and profits. It will vastly reduce the number of financial surprises you experience in your business!
- Leadership creates passionate and focused people
- Management oversees processes so the team is competent and productive
When processes are in place, there’s something to manage. And while we don’t manage people, we can and should manage their accountability. Proper management balances processes and people, efficiency and humanity, without jeopardizing any single one. Good management is when managers are proactively helpful to the people they oversee.
Third, financial controls
A company’s financials tell its story.
Financials include income sttements, balance sheets, statements of cashflow and financial ratios, on a monthly, quarterly and an annual basis.
When you understand those figures, you know where the company has come from and where it’s headed. This provides an accurate picture of a company’s progress toward its financial goals.
Comapnaies that excel in these three disciplines will have a business that works, regardless of who is working in the business.
Learn what are the 5 Disciplines of Exponential Growth and how implementing and improving these Disciplines in your company will help you reach the untapped potential in your bsuiness and your team.