Inside the owner are three people; the entrepreneur, the manager and the technician. I found it to be amusing; however true, the analogy of the fat and skinny guy, one of the many sides of your personality should not attempt to make choices for the other. However if a person could find the comfortable mix, it could bring a harmonious balance to the surface. It is important to understand each of the facets of the owner; the Entrepreneur who continually dreams for the vision of the company, the Manager who manages the system and operations for the survival and success of the business and lastly, the Technician who will be the one to actually understand the process and want to do things.
In order to bring these things together the owner must be a visionary and not limit themselves to being the technician, but finding the perfect balance of all three to continue growing their business.
Like life, a business grows in phases; infancy, adolescence, and maturity. However, as mentioned in the book, most mature business start out with that style of business plan and operate accordingly. Many of the smaller business never make it to the maturity stage due to a lack of vision, and limited availability to dare to dream. It is a temptation, as a small business owner, to shrink back into the “small” or infant stage when things become unmanageable. Then there are the adolescent businesses that will either grow until they burst or just shut the doors. The mature company is the model that can outlast them all and continue to thrive.
One of the things to consider is the Turn-Key Revolution which provides us with the ultimately balanced model of a business that works. In this philosophy, it is believed that the true product of a business is not what it sells but how it sells it. It is best to create a business that is systems-dependent, rather than people dependent. The plan is systems driven, and systems are operated by people, rather than the people running the business. The system transforms a business into a machine or an organism driven by its parts working together towards a realized objective. Once the owner has learned the system, he is then given the key to their own business. The entrepreneur is the medium through which the vision takes form in the real world, to the manager, it provides order, predictability that is so important to their life, and to the technician, it is a place where he is free to do what they love, technical work and for the small business owner, it provides the means through which all three personalities can be fulfilled in a balance while creating a business that works. I particularly appreciate his point that “your business is NOT your life, but only part of it, and it should not rule it, but be managed appropriately”.
The model will provide consistent value to your customers, employees, suppliers, and lenders beyond their expectation and can be operated by people with low skill level. It will be a place that stands out as a place of superior order. The model should be documented in Operations Manuals and provide uniformity in service to customers and utilize uniform color, dress, and facilities. It is imperative to train the employees within the system, in order to increase productivity and provide the best customer experience as expected. To successfully develop a serious business you need a process, a practice, by which to obtain that information and, once obtained, a method with which to put that information to use in your business and make it productive for not only you but others who may want to re-create your business.
Also mentioned is Business Development Process. The foundation of this process is innovation, quantification, and orchestration. Innovation is thought of as creativity; however, the difference between the two is; thinking about getting things done in the world and actually getting things done. It is important to recognize that it is not the product that demands innovation, but the systems which it’s sold. This process does not have to be expensive to be effective. Some of the most powerful innovations required little more than a change of a few words, a gesture or a color of clothing. To make the innovation meaningful it must always take the customer’s point of view, and it must make things easier for you and your staff in the operations sector. This is where individuality is established with your client base. Mentioned also is quantification, a measurement in numbers. These numbers enable you to determine the precise value of your innovation. The idea is if you find something that works, do it every time, be consistent, and when it ceases to be effective, change it. This will be an ongoing process through the life of your business.
Business development program is composed of seven steps; (1) The primary aim - what do I value most? What kind of life do I want? What do I want my life to look and feel like? Who do I wish to be? You could say that this it is the vision necessary to bring your business to life and your life to business, providing you with purpose and energy. (2) Strategic objective - a very clear statement of what your business has to ultimately do for you to achieve the primary aim. It can be said that it is simply a list of standards, such as money, and the size of the vision or is an opportunity worth pursuing. (3) Organizational strategy – beginning with an organizational chart regardless of the size of the company. Avoid organizing around personalities. (4) Organizing you management strategy, (5) Developing your people strategy, (6) Developing your marketing strategy, and (7) Developing your systems strategy.
As you can clearly see, the message is repetitive. However, I have been told by many wise men that the key to perfection is repetition. I would have to agree that if you say something multiple times, the point will be enforced and clear to all who hear the message. The message I receive loud and clear is simply to plan a business so that it does NOT need you to continue operating. Remember the customer is always your first concern, and plan, plan, plan. Plan the system so that no matter what type of business you develop, it can be a prototype for any other like it and can succeed without your presence, and you will be able to live an enriched life without being a slave to your business, and yet allowing it to provide the type of lifestyle you wish to pursue.