3 Benefits of Building and Documenting Business Systems

If you're a business owner interested in scaling your business, consider establishing systems to take your company to the next level. You can accomplish this by taking a step back from your company and viewing it as a collection of separate systems. This approach will help you identify the current processes you have in place for various tasks. From there, you can alter and improve those systems to ensure you achieve the same outcome but in a faster, more profitable way.

At Summit Virtual CFO by Anders, we're big on documenting and revisiting our processes regularly to identify ways to make our established systems more efficient and effective. As a virtual CPA firm that offers companies outsourced CFO services, we rely on our processes to maintain a high-touch service model that keeps our clients coming back. Many benefits are associated with this method of systemizing a business, a few of which are detailed below.

• You can direct your energy toward other essential activities. Developing systems helps employees rely less on you to accomplish tasks because the documented processes you have established empower them to do it themselves from start to finish. Installing systems helps your team perform key activities effectively, allowing you to focus more on activities that don't involve the company's daily operations. For example, you may use your time to innovate by developing new product and service ideas instead.

• You can increase your company's profitability. Streamlining your systems and ensuring they're effective will help you continue delivering quality products and services just at a faster rate. The efficiency of your company's processes can easily translate into more revenue. For example, if you're a business that develops SEO content for other companies, you would closely examine your company's revenue-generating elements, such as the process of drafting an article. Then, you would document the steps involved in that process while paying close attention to factors, such as selecting the right keywords, to ensure each article helps boost your client's rank on major search engines. After documenting this information and tweaking it to ensure the process is as efficient as possible, you can put it into practice by producing several articles that help your client achieve their goal. By working efficiently and effectively while achieving results, you're more likely to attract and onboard more clients, which leads to more revenue.

• You can grow your team. It's not enough to have robust, well-documented processes in place. You also need a good team to run those systems by following those processes. Simply put, attracting talented employees who deliver great value is easier when you have higher profit margins because you have more money to pay them. By investing in developing systems, the increase in profits can help you land talent that will accelerate your business's growth. You can also use those documented systems to onboard new team members quickly and set them up for success.

Establishing and documenting systems can free up your time so that you can continue to innovate and focus on other ways to grow your company. Your business will also run more efficiently, allowing you to hire more employees as you take on more billable work. These results from systemizing your company indicate that you are running a successful business that's poised for consistent and continuous growth.

If you would like additional tips and help setting your business up for scalability and growth, you can schedule a consultation with one of our Virtual CFOs. We will outline different strategies we feel will help you meet your business goals.