MUST-HAVE PROCESSES THAT WILL HAVE AN IMMEDIATE POSITIVE IMPACT ON YOUR BUSINESS
Remember our friend Mr. Jacobs from the last article? You know, the business owner who looked organized and successful from the outside, but was overworked, stressed, and caused a bottleneck in any sort of progress?
Well, hold onto your hats, ladies & gentlemen, because Mr. Jacobs has undergone a transformation so dramatic, it's like he swallowed a business efficiency pill. His once chaotic shop is now a model of efficiency that would impress even NASA.
So, how did he pull off this miracle? What sorcery did he employ to turn his business from a three-ring circus into a well-oiled machine? The secret, my friends, lies in the magical realm of standardized processes. But here's the kicker – the hardest part is simply getting started. It's like trying to get off the couch after a streaming binge – you know you should, but it feels impossible.
- What daily, weekly, or monthly tasks make you want to pull your hair out?
- Which tasks would be easier if you had a set of instructions? (think Ikea furniture, but less frustrating)
- What repetitive tasks do you LOATHE that could be automated? (because life's too short for mind-numbing repetition)
- What projects do you dread because they're as messy as a toddler's art project?
Go ahead, jot these down. Use your favorite software (you know mine, wink wink, check out ClickUp), or go old school with pen and paper. No judgment here.
Alex Tuck, Founder & Managing Principal of Tuck Consulting Group, knows the power of standardizing processes better than most. He's like the Marie Kondo of business operations, but instead of asking if things spark joy, he asks if they spark efficiency.
"Every quarter, our operations team comes together to identify 5-8 major objectives and key results (OKRs) to tackle. At least one of those OKRs is dedicated to operational excellence - documenting, simplifying, and automating our biggest pain points."
Ready to dive in? Great! Let's tackle the three most common processes that entrepreneurs and operations managers wish they had standardized and documented. Think of this as your cheat sheet for efficiency and organization. Exciting, right?
- Sales pipeline management
- New client onboarding
- Project management
1. Sales Pipeline Management (Or: How to Close Leads Like a Boss)
Sales pipeline management is like being the traffic controller for your business opportunities. It's about guiding those precious leads on a scavenger hunt from "Who are you?" to "Where do I sign?" without losing them along the way.
Imagine getting in your car and driving, without a map (or GPS) or destination in mind. How can you answer "are we there yet?" without directions or a goal? That's what managing sales without a standardized pipeline feels like. Standardization brings light to the darkness, showing you exactly where each opportunity stands, what needs to happen next, and metrics to track progress towards quotas.
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- Map out your sales journey: Define the steps from cold lead to paying customer.
- Set up your pipeline stages: Break down your sales process into distinct phases. Think of it as the lifecycle of a butterfly, but replace "caterpillar" with "prospect" and "butterfly" with "customer."
- Plan your moves: For each stage, outline specific activities. For example, in the prospecting stage, activities might include cold calling or sending intro emails.
- Embrace the CRM: Implement Customer Relationship Management (CRM) software to store all of the information you need regarding the deal. Use the tool to record touch points, meetings notes, [some can] generate quotes, store templated emails, automate repetitive tasks, and more.
- Keep score: Track key metrics like conversion rates and sales velocity. It's like keeping a scorecard, but instead of golf, you're winning at business.
- Review and tweak: Regularly analyze your pipeline data. Use these insights to refine your approach.
- Follow up like a pro: Maintain consistent communication with leads. Remember the CRM? You can schedule reminders for follow up calls or automate emails.
- Seal the deal: Guide ready leads through the closing process.
Why bother with all this? A streamlined sales pipeline is like having a crystal ball for your business. It helps you forecast revenue, allocate resources smartly, and make data-driven decisions. Plus, it keeps your sales team focused on what they do best – selling – rather than drowning in a sea of post-it notes and forgotten follow-ups. And the best part? Your sales process becomes so smooth, clients practically sell themselves. Well, almost.
2. New Client Onboarding (Or: How to Make Your Clients Feel Like VIPs)
Now that your new sales process is a lead-closing machine, you've landed several high-ticket clients. Confetti! Champagne! But now what? A solid onboarding process is like laying out the red carpet for your clients. It sets the stage for a beautiful working relationship – think "The Notebook," but for business.
Why is this so important? First impressions matter. Imagine buying a fancy new car, and the dealership just tosses you the keys, says, "Good luck!", and never looks back. You'd feel about as special as a participation trophy. A great onboarding process sets the tone for a long and happy relationship. Clients will feel valued and understood from day one.
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- Roll out the welcome wagon: Send a personalized email that's warmer than fresh-baked cookies. Schedule a kick-off meeting to outline their goals and objectives.
- Play 20 questions: Provide a questionnaire to gather all the details about their needs and business background. 💡Or better yet, send the questionnaire for the client to look through, but complete it together during the kick-off meeting. Because who likes being assigned homework before the first day of school?
- Set goals and expectations: Work with your client to define specific goals, milestones, and expectations for your project or engagement.
- Plan times and roles: Develop a clear timeline and make sure everyone knows their role – no "I thought you were handling that" moments allowed.
- Show them the ropes: Provide training on your products or services.
- Check in regularly: Schedule catch-ups to monitor progress and address any hiccups.
- Wrap it up with a bow: Once onboarding is complete, do a final review and transition them to regular support.
The impact? It's like sprinkling magic dust on your client relationships. A smooth onboarding process leads to happier clients who feel valued and understood from day one. They're more likely to stick around, sing your praises to others, and spend more money with you. Plus, your team will thank you for the clarity and consistency, reducing those "Um, what do I do now?" moments to practically zero.
3. Project Management (Or: How to Wrangle Chaos into Submission)
If you're in a B2B services industry, or provide custom tailored products, Client Onboarding is the just tip of the iceberg. Now you're tasked with creating top-notch deliverables with white-glove attention to detail. Project management is the art of coordinating a toddler flash mob while juggling flaming torches. It's about turning the wild west of tasks and deadlines into a Zen garden of productivity.
Imagine orchestrating a symphony where each musician is playing from a different sheet of music - chaos, right? Standardized project management is like giving everyone the same sheet music, a metronome, and a conductor. It brings harmony to the potential cacophony of tasks, deadlines, and team dynamics.
Want to really nerd out? Check out our in-depth article "Does My Startup Really Need a Project Management System?"
- Assess the Current Situation: The project manager (or business owner, operations manager, janitor, whoever is up for the challenge) will first dive into the current organization, team, and project(s). This detective work helps uncover the reasons behind the chaos, spot any issues, and gather insights from team members to see things from their unique perspectives.
- Define Clear Goals and Objectives: Setting crystal-clear goals is key for getting everyone on the same page, both at the company and project levels. Once goals are in place, they become the ultimate test for prioritizing projects and tasks. Teams and stakeholders can work together to establish goals that are specific, measurable, achievable, relevant, and time-bound (SMART), ensuring everyone knows what they're aiming for.
- Establish Clear Roles and Responsibilities: Each project requires a cast of characters, so make sure to clearly outline who does what. By defining roles and responsibilities for each team member, you create a roadmap for success, minimizing confusion and avoiding any "who's on first" moments.
- Create a Comprehensive Project Plan: Think of a project plan as your team's treasure map, guiding them through deliverables, milestones, deadlines, and resource allocation. The Project Manager becomes the maestro, working closely with the team to break down the project into bite-sized tasks and create a detailed plan with all the bells and whistles - dependencies, priorities, and timelines - making sure everyone is on the same page.
- Develop & Implement Standardized Operating Procedures (SOPs): Use the project plan as a blueprint for creating SOPs that can be reused for future projects and save you time and headaches down the road.*️⃣
- Leverage Technology: Project Management software becomes your trusty sidekick, keeping everything organized, promoting collaboration, and tracking progress. Don't forget to use document sharing platforms and communication tools to streamline workflows and keep everyone in the loop.
- Improve Communication and Collaboration: Communication is the glue that holds everything together. Encourage open channels for team members to share progress, voice concerns, and ask for help. Regular team meetings, whether in person or virtually, along with the right tools, will foster collaboration and bring transparency to the team
The impact of implementing a standardized project management system is nothing short of transformational. It's like giving your organization a productivity superpower. Miscommunication is a thing of the past, reducing those "I thought you were doing that" moments to extinction. Resources are allocated with the precision of a master chef measuring ingredients. And perhaps most importantly, your team's stress levels drop faster than a skydiver without a parachute (but with much happier results). You'll find projects completing on time, on budget, and with fewer gray hairs all around. It's not quite magic, but it's pretty damn close.
Now, before you pat yourself on the back and consider your job done, remember this: processes are living, breathing entities that need regular check-ups. Think of them as your business's fitness routine – you wouldn't expect to do one set of push-ups and be fit for life, would you? The same goes for your processes. The secret sauce to long-term success is continuous improvement. Every six months (or sooner if you're feeling particularly ambitious), put your processes under the microscope and ask the following questions:
- Are they still serving you well?
- Has technology evolved to offer better solutions?
- What is working well that we can expand on?
- Has the team discovered pain points or bottle necks that need to be improved?
Implementing these three processes – sales pipeline management, client onboarding, and project management – is like giving your business a triple shot of espresso. But don't just take my word for it. Let's talk numbers, because who doesn't love a good statistic?
Studies show that businesses implementing standardized processes see some seriously impressive results:
- Companies with a formal sales process have a growth rate 18% higher than those without. 3
- When 3 specific sales pipeline practices are dialed in, revenue growth is 28%. 3
- Businesses with well-utilized CRM systems experience a 300% improvement in lead conversion rates. 2
- 75% of consumers expect companies to provide a consistent experience wherever it is (social media, website, in-person, mobile) they interact with the product/service and at every point of customer onboarding. 3
- 80% of B2B companies expect businesses to interact with them in real time. 3
- A 1% increase in customer retention is associated with up to a 12% increase in a company's valuation over a 5-year period 4
- The use of project management software improves team communication by 52%. 5
- Companies using standardized project management practices see an average 21% increase in profit margins. 6
- Having systems and processes in place reduce failed projects by 31%, deliver 30% of projects under budget, result in a 21% improvement in productivity, and deliver 19% of projects ahead of schedule. 7
- https://hbr.org/2015/01/companies-with-a-formal-sales-process-generate-more-revenue
- https://www.dataaxleusa.com/blog/customer-relationship-management-statistics/
- https://a.sfdcstatic.com/content/dam/www/ocms/assets/pdf/service-cloud/state-of-connected-customer.pdf
- https://www.nextmatter.com/blog/the-good-the-bad-and-the-ugly-of-customer-onboarding-5-immediate-steps-toward-getting-it-right
- https://www.project.co/project-management-statistics/
- https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3135535/
- https://www.pmi.org/business-solutions/white-papers/value-project-management