Business Core Principles + Business Coach

Business Coach Teaches The Core Principles Of A Thriving Company

Business Coach Teaches About The Core Principles Of A Successful Business

Business Coach Story Time:

Life before systems was not pleasant for me and I still feel occasional discomfort when I walk into a certain Barnes & Noble. Picture this. The year was 2002, I was 21 years old and I was selling as many deals as I wanted. www.DJConnection.com was the talk of the town in the event entertainment and wedding industries arena and because I personally DJ’d, handled the sales, maintained the equipment, trained the DJs, met with the customers and handled the accounting, things were rocking. I was focused, committed and simply unwilling to compromise. As things grew, I began delegating responsibilities without having the discipline needed to first create systems, checklists, processes, and workflows. I delegated the training of our DJs to a guy who didn’t care about the business like I did and who didn’t have any systems to use as a reference, a standard, a best-practice or a guardrail. Thus, we started destroying people’s weddings one by one for a good three weeks in a row before I started hearing the feedback and immediately began both training the DJs again and creating training systems, checklists and processes.

Unfortunately, I really screwed up the wedding of the lady who managed the Barnes & Noble in Tulsa because I did not properly train the man who was training our DJs. The DJ went to her wedding and played the wrong song for her first dance, forgot to play her requests and changed the agenda for her entire wedding on the fly because he thought it would go better if he did it his way. If you haven’t figured this out by now, I’m an avid reader. But now, every time I would go into that Barnes & Noble, I would try to avoid eye contact with this lady. One time I did have to checkout at her register and I attempted to apologize. Some seven years after the incident occurred, she was still upset about it and gave me yet another piece of her mind and essentially told me that I was a horrible person for ruining her wedding. She said all this while I was at the bookstore being accompanied by my five-year-old daughter. Now nearly 15 years since that incident, I think that she really should have told me “You ruined my wedding because you didn’t have the discipline needed to build systems, file naming systems, checklists, processes, and workflows that were scalable and would have allowed an idiot to run those systems! Go make a system, you jerk!”

“I try to buy stock in businesses that are so wonderful that an idiot can run them because sooner or later, one will.” -Warren Buffett (The self-made billionaire and founder of Berkshire Hathaway. Buffett is the chairman, CEO and largest shareholder of Berkshire Hathaway, and is consistently ranked among the world’s wealthiest people.)

Business Coach Teaches The 12 Core Tasks of Your Operations Team and Systems

Determine your company’s overall OPERATIONS TEAM SYSTEMS SCORE in the following 12 areas by rating your business on a scale of 1 to 10 with 10 being the highest.  

Business coach teaches how to deliver on the promises made by your marketing and sales team.

  1. Creates a linear workflow that clearly documents the steps that your teammates need to take turn a customer’s order into a customer’s product or service and a customer’s thank you as a result of you wowing them.
  2. Provides office space for your team.
  3. Provides a phone system for your team that is capable of recording calls.
  4. Provides a universal place for your team to save digital files.
  5. Provides a universal nomenclature system for your team to save files so that you can always find digital documents.
  6. Provides the tools, resources, and equipment your staff needs to do the job right.
  7. Provides the website(s) needed for your company to make a great first impression for your ideal and likely buyers.
  8. Provides a quality customer service experience for your customers.
  9. Provides a system WOW and high-promoter-causing interaction for every customer.
  10. Systemic purchasing controls in place.
  11. Systemic cost controls in place.

Business Coach Teaches The Booming Business Foundational Principle #3 – Accounting and Finance

This foundational principle is very important to the success of your business venture because people such as you and I need to exchange currency, money, coin, or Bitcoin for the products and services we both need and want. And at the end of the month if we don’t have any money left, we lose the business game. Game over. The accounting and finance aspect of your business requires an investment of time so you can maintain a proactive perspective and overall approach to the handling of the money end of your business. YOU SHOULD VIEW THE ACCOUNTING AND FINANCE ASPECT OF YOUR BUSINESS AS A COMPASS AND NOT A REAR VIEW MIRROR.

This area of your business includes everything related to filing with the government, tracking money, collecting money, distributing money, paying your team, and strategically directing the cash flow of money both in and out of your business. This aspect of your business should include processes for the following areas of your business.  How do you stack up? 

Business Caoch Teaches The 13 Core Tasks of Your Accounting and Finance Team and Systems

Determine your company’s overall ACCOUNTING AND FINANCE TEAM SYSTEMS SCORE by rating your business in the following 13 areas on a scale of 1 to 10 with 10 being the highest. This scoring system can be found at Thrive15.com.

  1. A system is in place to verify that your team members are paid on time.
  2. A system is in place to verify that your team members are paid accurately.
  3. A system is in place to verify that your vendors are paid on time.
  4. A system is in place to verify that your investors are paid on time.
  5. A system is in place to verify that all incoming deposits are placed into the company bank accounts.
  6. A system is in place to verify your weekly account balance.
  7. A system is in place to verify how much in tax is owed weekly.
  8. A system is in place to verify the accuracy of your profit and loss statement.
  9. A system is in place for cross-referencing your weekly budget against your weekly expenses.
  10. A system is in place for managing your potential risk and insurance needs.
  11. A system is in place for cash flow management.
  12. A system is in place for tax filing and planning.
  13. A system is in place to communicate with investors to keep them updated.
December 8th, 2017

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