The Three P’s: Process And Policy Lead To Profit – Episode 1 – Part 3
Clay Clark and Jack Nadel continue their conversation about The Three P’s: Process and Policy Lead to Profit, in this segment of the ThriveTime Show business school. Clay asks Jack Nadel about when a business should start to develop their own policies and processes. In Nadel’s case, he began documenting his process from the very beginning of his business. He gives the example that when he would close a deal, he developed a process of calling the customer and confirming the details and also sending a letter to thank the clients for their business. As he continued to grow his business, since this process was established, he was able to train other people to replicate the process and follow the systems that Nadel had already put in place.
By creating a system that was easy to follow, it helped those doing the job after him to complete the tasks well. Nadel set the precedence and documented it, then consistently followed the same process to ensure that everyone involved was on the same page. The same should take place in your business. Document the way that you do things. Create a process that can be followed by everyone in your company. Then consistently follow those processes to ensure that there are no weaknesses in your workflow and that everyone stays on the same page.
Clay asks why more business owners do not take the time to create these processes in their own businesses. Nadel’s belief is that many are afraid. Afraid of handing over the responsibility of completing tasks to another person in their business. He lets loose the notable quotable, “Never fear to negotiate, but never negotiate out of fear.”
Do you need help creating these essential workflows and processes in your business? Contact one of the ThriveTime Show business coaches to start developing you business’s processes.