Some of the most important processes any new business owner should focus on are not only business operations, but how will their success be measured and who will be responsible for their successful completion.  Anywhere from who will answer the phone, respond to emails, to which person is responsible for managing the financials.  There are so many key aspects to managing a business. It is not only which activities, but how will they be accomplished.  Throughout my career I had my share of failures due to ineffective business operations.  Unfortunately I continue to advise people who lose their business because they had the wrong people managing key functions.   Business operations are all the activities involved in the day to day functions of a business conducted for the purpose of generating financial profits.  Business operations is the wheel that keeps the business moving on a daily basis.

Many business owners do not have the skills to operate each business function.   However, it is key that you have enough knowledge to know if your operations are being managed correctly. Once you have your Vision, your Marketing, and your Branding Plans, it is time to develop your business operations plan.  An operating model translates your strategic roadmap into operational capabilities. It serves as the foundation for execution and provides a clear guide for you and your management team. An operating model can be made up of the following core elements:

  • Culture and corporate values
  • Corporate governance
  • Repeatable Processes
  • Organizational structure
  • Performance management
  • Information Technology
  • Risk management
  • Finance

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