A business is nothing more than a system of systems that creates value. And every business needs five basic systems, which I call the Five Foundations of Business:
- Marketing—Finding the quickest path to the sale.
- Management/Leadership—Identifying the destination, developing the path, and creating a team to accomplish it.
- Operations—Delivering the service.
- Finance—Managing the value created through superior marketing and operations.
- Systems/Controls—The grease and glue that keeps the other four Foundations moving smoothly and holds them together.
Getting these systems to work for you as efficiently as possible is the essence of creating a successful business. Once you have created and fine-tuned the systems, it becomes much easier to sell your product, create viral word-of-mouth, hire employees, lead and manage them, expand into new markets and additional sites, and to franchise. Plus, life is easier and more enjoyable when your business generates income for you and your lifestyle. Finally, the systems make it possible for you to create a business worth selling when you’re ready to retire or move on to your next venture. Of course, within those categories, how the specific systems that create widgets, tools, knick-knacks, food, services, or experiences will work depends entirely on you as the business owner.
If you decide to read Building Your Booming Business, take the time to review your systems. Where is the hand-off from one system to the next? What systems are missing or not performing as well as they could within each of these “Business Foundations?”
Why should you trust me? What makes the material in Building Your Booming Business worth the time to read and implement?
I have always had an entrepreneurial bent. At eleven years old, I used the drawing program on my dad’s IBM 286 to make a half-page flyer advertising that I was available to do a variety of odd jobs. Then I distributed about 100 of them throughout my neighborhood. I had a few calls over the next couple of weeks to mow lawns, babysit kids, and a number of similar tasks. Within a couple of weeks, I was bringing home about $150 a week. A year later, one of my customers, who was the general manager for a local lumberyard, asked me to give him a bid for regularly mowing about two acres of grass around the business. Once I sealed that deal, I was bringing in an additional $120 every ten days. In 1989, that was a lot of money, especially for a twelve-year-old. Don’t worry; I spent most of it irresponsibly.
Since then, I have run business organizations as large as 200 employees, increased revenues by 40 percent in less than three months, and have battled almost every operational obstacle imaginable. I even had to pull a department out of a financial disaster.
More importantly, I have successfully coached scores of other entrepreneurs, managers, and owners on how to be successful doing the same things I have done. Many of them have more than doubled the sizes and profits of their businesses, created more time for themselves, and even sold their businesses for profit.
Why would what I have to share in this book work for you? You’ve probably tried training programs and systems before. You’ve tried seminars, books, coaching, and spent lots of time trying to get your business to break barriers.
The reason I know that what I have to share can help you take your business to the next level is that I have actually implemented, either in my own business or in the businesses of my clients, every concept in this book, and I have seen great successes as a result. Even if you only use one of the strategies I offer, you can move your business forward, or you can apply all of them to make your business boom.
To get a copy of the introduction and the first page, check out http://BuildingYourBoomingBusiness.com
David Bryant Mitchell is the author of the upcoming book Building Your Booming Business. He is also business coach and consultant that works with business owners and managers to create momentum in their business with strategies and tactics that they can implement today. These strategies are based on the five foundations of business: Marketing, Leadership, Operations, Finance and Systems.