hidden in plain sight - how entrepreneurs can find waldo through small business processes
TRANSCRIPT
Using Small Business Processes to Find Money & Build Sustainability in a Depressed Economy
HIDDEN IN PLAIN SIGHT
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Purpose
To demonstrate how and why business processes are vital to scalable, sustainable growth –
even for small businesses!
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
What It Is & What It Is Not
Sequential steps required to produce a desired result.Exposes inefficienciesReveals bottlenecksRepresented in many waysPerformance Evaluation ToolTraining ToolCreates TransparencyCan be time-intensiveCan be expensive depending on the level of complexity.Is a sign of business maturity.Should be task dependent.
Is NOT a systemIs NOT just for Fortune 500Is NOT an employee manual w/policiesIs NOT a waste of time and moneyIs NOT People Replacement Tool Will NOT be done overnightIs NOT people dependent
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Anatomy of a Business Process
Cookbook = Operations Manual
Instructions = Process
Picture = Desired Output
Ingredients = Tools
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
The ChallengeWhat Does Scalability & Sustainability Look Like?
1. Know What Needs to Be Done.2. Know Who is Supposed to Do What.3. Know How to Do What Needs to Be Done.4. Know What the Contingency Plan Is (Just in Case).5. Ability to Profitably Replicate Your Model.
Main Office
Office 1
Office 2
Office 3
Office 4
Office 5
Office 6
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
What’s Your Company’s “Waldo?”
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In this presentation, “Waldo” represents the source of a challenge that you know is there, but you can’t quite find it or figure it out.
You can use a business process to find that “Waldo.” The question to ask yourself is “Are You Ready to be Exposed?”
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
The Equilibria Story: Finding Waldo
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Getting clients, but not retaining money. Taking too long to deliver services. Too many services. We knew Waldo was there, but we could not find him. Were we willing to face the truth? We needed to practice what we preached.
The Industrial Revolution Widget Production ● Factories ● Manufacturing Process
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
The Franchise Expansion Widget Customization ● Retail ● Manual
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Mergers & AcquisitionsWidget-supporting Services ● Companywide Best Practices ● Metrics
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Rise of the Small Business Enterprise
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Small Business is Attractive Flexibility Technology Access Viable Suppliers Better Customer Service
However…Small Businesses need to prove scalability & sustainability.
Processes are a
way to do that.
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Warning! – The Rabbit HoleEstablish Boundaries Quickly
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Evaluate Identify Assess Document Measure Store Improve
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Evaluate Identify Assess Document Measure Store Improve
Why Does Your Company
Need Documented
Processes?
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Evaluate Identify Assess Document Measure Store Improve
How Will Processes Help Your Company Grow?
PROFIT & LOSS STATEMENT
↑ Revenue↓ Expenses
= ↑ Profitability
BALANCE SHEET
↑ Intangible Assets↓ Liabilities
= ↑ Equity
CASH FLOW STMT
↑ Net Operation↑ Net Investing↑ Net Financing
= ↑ Net Cash Flow
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Evaluate Identify Assess Document Measure Store Improve
ACCOUNTING DEPARTMENT
Submit invoice to client Deposit checks Generate receipt in QuickBooks File receipts & bank statements File merchant account information File bank account information Enter bills into QuickBooks Pay bills Sign checks
Brainstorm List of Tasks for Company
START
Group Like Tasks into
Departments
Group Like Departmental Tasks
into Processes
Accounts Receivable
Process
Records Management
Process
AccountsPayableProcess
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Evaluate Identify Assess Document Measure Store Improve
QuickBooks User Manual Checks QuickBooks Software Invoice Template Monthly Deposit Report Password List
Take Inventory of Existing Tools
Match Existing Tools to Identified Processes
Accounts ReceivableProcess
Accounts PayableProcess
Records ManagementProcess
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Evaluate Identify Assess Document Measure Store Improve
Create List of Processes per Department
Prioritize Processes Based on Needs
Assign to an Administrator
Department Priority Processes Administrator
Accounting
1Accounts
ReceivableCFO
2AccountsPayable
Bookkeeper
3Records
ManagementBookkeeper
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Evaluate Identify Assess Document Measure Store Improve
Develop a Style Guide for Each
Type of Tool
Choose Optimal Documentation
Tool
Capture screenshots and voice recording
- Camtasia- AVS- Zamzar
Web Apps
Flowcharting Software- MS Visio- Orkut- Free Web Apps
Software
Be mindful of copyrightInfringement.
The Process ShopTM
MS Office Online- Checklists- Databases
• SlideShare Presentations
Templates
Digital Camera to Record. Social Media TV Channel
- Create Custom Channel- Subscribe to others.
Video
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Evaluate Identify Assess Document Measure Store Improve
Department Priority Processes KPI UOM Administrator
Accounting
1Accounts Receivable
on-time collection
collected/owe ratio, %
CFO
2AccountsPayable
late fees <amount, $ Bookkeeper
3Records Management
internal & external audits
deficiencies, min. %
Bookkeeper
Determine How to Measure Process
Performance
Link to Performance Evaluation
Conduct a Trial Run to Test Feasibility
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Evaluate Identify Assess Document Measure Store Improve
Key Components:- Table of contents- Flowchart of Process- Procedural Format of Process- Accompanying Tools
Choose Optimal Storage Solution
ELECTRONIC/NETWORK STORAGE PAPER / HARDCOPY STORAGE
THE “CLOUD” & SOCIAL MEDIA
SlideShare Wiggio, BaseCamp Google Docs, DropBox, Box.net MS Sharepoint Wikis YouTube
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Evaluate Identify Assess Document Measure Store Improve
Improve Processes
Six SigmaLean Sigma
Process Automation
END
1. Evaluate. Looking in the mirror. Growth = licensing IP.
2. Identify. ~30 total processes. Service Delivery top priority.
3. Assess. Leverage existing MS Office applications for automation.
4. Document. Converted sequential steps to software.
5. Measure. Mapped & timed process to expose bottlenecks.
6. Store. Combo of remote data backup, cloud & external hard drive.
7. Improve. Changed target client & virtual service delivery.
© Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
The Equilibria Story: How We Found Waldo
Evaluate Identify Assess Document Measure Store Improve
© Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
RECOMMENDATIONS
1. Ask your clients/customers and employees for feedback. LISTEN.
2. Seek methodical, detail-oriented thinkers to document processes.
3. Request original copies of processes from third-party consultants.
4. Ask someone outside of a particular dept. to review a process for validity and accuracy.
5. Consider the sensitive nature of the information recorded.
6. Remember, just because you write the process does not mean that everyone will understand it.
© Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Determine the purpose behind your processes
Begin with the end in mind
Take an inventory of existing tools
Integrate existing tools into processes
Document, secure and maintain
JUST GET STARTED! Templates = Head Start
© Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
Download a complementary
Accounts Receivable Process & Flowchart from. The Process
ShopTM. Click here.
1Request a complementary
30 minute phoneconsultation & learn 3 things
you can do to immediately improve back office
operational efficiency.
2Recommend, Like or
Share The Process ShopTM with your social
networks and receive an additional 10% off any
product or service.
3
THANK YOUThis presentation was originally shown in 2010 at the Fast Trac Growth Venture
class through Georgia State University’s Small Business Development Center.
Thank you to Tim Fulton for facilitating the leading and follow up discussion to the presentation and to Georgia Power for providing the presentation facilities. And
most importantly, thank you to all the entrepreneurs who build the foundation of the American economy.
Note: This presentation is changed and re-formatted with each class so feel free to bookmark this page and check again in a few months for possible updates.
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc
IMAGE CREDITS
Waldo images: http://findwaldo.com/Slide 3: Money: http://30goalsby30.wordpress.com/2011/08/07/18-save-a-pre-determined-amount-of-money/Slide 4: Scroll https://teams.cokecce.com/sites/VendingWholesaleTeam/ops/Strategic%20Initiatives/Forms/AllItems.aspx?RootFolder=%2Fsites%2FVendingWholesaleTeam%2Fops%2FStrategic%20Initiatives%2FIntelligent%20Vending%20System%2FProcess%20Documentation%2FIVS%20Fulfillment%20TasksSlide 5: Recipe Card: http://www.razzledazzlerecipes.com/artistcafe/recipecards/brown-recipe-card.htmSlide 13: http://www.lightinghomes.net/gallery/company.htmlSlide 14: Child Entrepreneur: http://www.cosmoloan.com/investments/10-inspirational-child-entrepreneurs.htmlSlide 15: Alice in Wonderland: http://tuningintoscifitv.com/wp-content/uploads/2009/11/Alice_04.JPG
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | [email protected] | @EquilibriaInc