Dien Rice
October 1, 2022, 02:38 AM
Hi Mike,
My main comment here is to say that... If you want to sell a business, usually you have to "systemize" it...
The whole idea is to be able to take the business processes, and document them in a way so that anyone else can come in and do the job...
It's just like McDonald's (or any other franchise)... They have detailed documentation on exactly how long to fry the french fries, how many pickles to put on a Big Mac, and so on.
I was under the impression that systemizing a business meant writing lots of manuals... Until a very successful entrepreneur put me straight. He systemized his business mostly by making videos... The videos documented exactly how to do the various processes. And then he successfully sold his business... And retired at a young age!
Best wishes,
Dien
How to do business process mapping
Identify the process. Clearly define what is being mapped and what you hope to gain from it.
Gather information. Observe and study the steps involved, capturing who, what, when, where and how it's all occurring.
Interview participants and stakeholders.
Draw the maps and analyze them.
For more visit the site: https://errolallenconsulting.com/
My main comment here is to say that... If you want to sell a business, usually you have to "systemize" it...
The whole idea is to be able to take the business processes, and document them in a way so that anyone else can come in and do the job...
It's just like McDonald's (or any other franchise)... They have detailed documentation on exactly how long to fry the french fries, how many pickles to put on a Big Mac, and so on.
I was under the impression that systemizing a business meant writing lots of manuals... Until a very successful entrepreneur put me straight. He systemized his business mostly by making videos... The videos documented exactly how to do the various processes. And then he successfully sold his business... And retired at a young age!
Best wishes,
Dien
How to do business process mapping
Identify the process. Clearly define what is being mapped and what you hope to gain from it.
Gather information. Observe and study the steps involved, capturing who, what, when, where and how it's all occurring.
Interview participants and stakeholders.
Draw the maps and analyze them.
For more visit the site: https://errolallenconsulting.com/
