Systematize Your Business Activities Is Key To Success And Massive Growth:

Systematize your business activities, your business will be successful, generating steady, predictable sales and cash flow to the exact degree to which you develop systems that put as much of your business on autopilot as possible. A system is a step-by-step process from beginning to end that you use to ensure consistency and dependable performance in every area. Every new business or business activity requires tremendous time, effort, expense, and even genius to learn and develop for the first time. But once the system has been developed through trial and error, it can eventually be systematized to the point where the business activities can be carried out by ordinary people until the business activity is systematized. It exists largely in the mind of the individual who knows how to do it. As a result, it cannot be duplicated or replicated. If the person who knows how to do the job is not there, the business can eventually grind to a halt. Here are the systems you need in your business to grow it into a world-class business.

Number one lead generation. You need a proven system of marketing, advertising, and promotion that generates a steady stream of qualified leads, whether phoning your place of business, responding to your internet solicitations, or personally coming into your store to buy your product or service. Without this continuous and predictable stream of leads here, sales and revenues will dry up and your cash flow will slow to a trickle. Threatening the survival of your business.

Number two is Lead Conversion. You need a proven sales system to convert interested prospects into buying customers. This system begins with a sales script that every customer service, representative, and salesperson uses from the first contact with the prospect through to the completed sale. The use of a pre-planned sales script can triple your sales almost overnight by using a sales script. Each person who answers the phone calls on a customer or greets a customer walking in the door knows exactly what to say from the first greeting through to the final purchase. Your sales system will be developed as a result of trial and error. As you evaluate your sales process, you will find it. There are things that you do and say that are effective and others that are not. Over time, you will smooth out the rough spots in your sales process, machining and polishing the words and actions so that you turn interested prospects into buying customers over and over again.

Number three is the production of your product or service. You need a proven system from beginning to end for producing the product or service that you have sold to the customer. This proven system will ensure consistency of quality, ease of operation, the efficiency of activity, and continually lower costs of production and delivery as the system improves.

Number four is a Delivery System. You need a step-by-step system to fulfill orders and deliver the product or service to the customer in a timely fashion. This system enables you to get your product or service to the customer quickly and efficiently. With minimum delays and with a high level of quality.

Number five is a Service System and Customer Relationship Management (CRM) are both equally critical to a business\’s growth and success. You need written policies and procedures for follow up service to each of your customers, including established ways to handle customer needs and complaints to generate additional sales and to keep in regular customer contact to elicit referrals and recommendations from satisfied customers to new customers, and to alert your customers of new products and services that they may be interested in buying. Customer relationship management (CRM) is the combination of practices, strategies, and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle. The goal is to improve customer service relationships and assist in customer retention and drive sales growth. CRM systems compile customer data across different channels, or points of contact, between the customer and the company, which could include the company\’s website, telephone, live chat, direct mail, marketing materials, and social networks. CRM systems can also give customer-facing staff members detailed information on customers\’ personal information, purchase history, buying preferences, and concerns.

Why CRM benefits businesses
The use of CRM systems can benefit organizations ranging from small businesses to large corporations, through:

• Having customer information such as past purchases and interaction history easily accessible can help customer support representatives provide better and faster customer service.
• Collection of and access to customer data can help businesses identify trends and insights about their customers through reporting and visualization features.
• Automation of menial, but necessary, sales funnel and customer support tasks.

Components of CRM
At the most basic level, CRM software consolidates customer information and documents it into a single CRM database so business users can more easily access and manage it.
Over time, many additional functions have been added to CRM systems to make them more useful. Some of these functions include recording various customer interactions over email, phone, social media, or other channels; depending on system capabilities, automating various workflow automation processes, such as tasks, calendars, and alerts; and giving managers the ability to track performance and productivity based on information logged within the system.

• Marketing automation. CRM tools with marketing automation capabilities can automate repetitive tasks to enhance marketing efforts at different points in the lifecycle for lead generation. For example, as sales prospects come into the system, it might automatically send email marketing content, with the goal of turning a sales lead into a full-fledged customer.
• Sales force automation. Sales force automation tools track customer interactions and automate certain business functions of the sales cycle that are necessary to follow leads, obtain new customers and build customer loyalty.
• Contact center automation. Designed to reduce tedious aspects of a contact center agent\’s job, contact center automation might include pre-recorded audio that assists in customer problem-solving and information dissemination. Various software tools that integrate with the agent\’s desktop tools can handle customer requests in order to cut down on the length of calls and to simplify customer service processes. Automated contact center tools, such as chatbots, can improve customer user experiences.
• Geolocation technology, or location-based services. Some CRM systems include technology that can create geographic marketing campaigns based on customers\’ physical locations, sometimes integrating with popular location-based GPS (global positioning system) apps. Geolocation technology can also be used as a networking or contact management tool in order to find sales prospects based on a location.

CRM tools specifically for social media platforms help companies foster customer relationships and monitor customer sentiments around their brands.

• Workflow automation. CRM systems help businesses optimize processes by streamlining mundane workloads, enabling employees to focus on creative and more high-level tasks.
• Lead management. Sales leads can be tracked through CRM, enabling sales teams to input, track and analyze data for leads in one place.
• Human resource management (HRM). CRM systems help track employee information, such as contact information, performance reviews and benefits within a company. This enables the HR department to more effectively manage the internal workforce.
• Analytics. Analytics in CRM help create better customer satisfaction rates by analyzing user data and helping create targeted marketing campaigns.
• Artificial intelligence. AI technologies, such as Salesforce Einstein, have been built into CRM platforms to automate repetitive tasks, identify customer-buying patterns to predict future customer behaviors, and more.
• Project management. Some CRM systems include features to help users keep track of client project details such as objectives, strategic alignment, processes, risk management, and progress.
• Integration with other software. Many CRM systems can integrate with other software, such as call center and Enterprise Resource Planning (ERP) systems.

Number six is an Accounting System. You need smoothly functioning accounting systems that track every penny of revenue and expense coming into or moving out of the business. Fortunately, there are computer programs for small and large businesses that you can use to keep track of all financial flows in your business so that you always know your proper financial status. In a nutshell, basic accounting records and reveals cash flows and operations. It divides all business transactions into credits and debits. The definitions of these are somewhat counterintuitive in financial accounting: Debits increase asset or expense accounts and decrease liability or equity accounts.

The three components of accounting systems are identification, measurement, and communication. The three basic elements of all accounting systems support a standardized framework for recording and conveying information.

Accounting systems are primarily used for internal functions and to maintain compliance with external entities. Keep in mind that communication is not an independent element in the accounting system, it is a major component of identification and measurement. An effective accounting system will help you keep track of accounting concepts such as costs, inventory and invoices according to Business.com.

What is the Purpose of the Three Basic Accounting Elements?
Essentially, the three basic elements of all accounting systems provide a standardized framework to identify financial and economic factors and trends, to provide an empirically based standard measurement, for communicating the financial health and taxation of businesses and economies. For instance, management accounting identifies a particular period in time to analyze against another similar period in time.

By measuring the financial results of a particular period directly with a similar period, such as one month or one year, accountants are able to provide an analysis of the financial health of the company based on relevant empirical data. Communication is a constant component throughout the accounting system.

What is the Importance of Identifying Accounting Data?
The three basic elements of accounting assist management in identifying the most efficient use of capital resources, measuring the effects of the cost controls, and communicating the information throughout the organization. For example, cost accounting focuses on the costs associated with products, services, departments, and resources (raw material and labor). The accumulated economic date is gathered into usable data points and reports are drafted and communicated to management and external users for their decision-making process. By identifying and measuring costs, management can reallocate capital in an effort to improve efficiencies and reduce costs.

How Does Measurement Support an Accounting System?
The measurement component in financial accounting is based on a standardized analysis of the historical financial performance of an organization. The relevant financial data is identified and analyzed before being communicated to decision-makers using income, cash flow, and profit and loss statements.

The financial accounting system is designed to assess the financial health of the company for internal and the external decision-makers, such as external auditors and investors. Identifying information under this system requires an understanding of Generally Accepted Accounting Principles (GAAP) as well as the different accounting requirements of each state and federal taxing authority.

Why is Communication Important for an Accounting System?
A major way that accounting information is communicated is through documents. Primary accounting documents include journals, ledgers, balance sheets and financial statements according to The Balance Small Business. This is a very simple list of documents that are common to business accounting systems. Concise record keeping is critical to ensure compliance with entities such as the Internal Revenue Service. It is also very important to have accurate information for internal decision-making purposes.

Accounting systems and communication documents will depend on a few factors, such as whether the cash or accrual methods of accounting are in use. Accounting really measures the financial health of a business, so it is important that communication includes all relevant data regarding things such as profit, loss, expenses, accounts payable or receivable, payroll, inventory, and costs.

Number seven is for Hiring, Training, and Personnel.You need written systems that clearly describe each job and how has to be done. In addition, you need systems for training, development, and personnel relations.

Each person who works for you must know exactly what he or she is expected to do and to what standard of quality your employees must understand the terms and conditions of their jobs. What is deemed unsatisfactory performance? And what are the grounds for termination? They must know exactly what they are entitled to in terms of medical insurance, sick pay, vacation days, and other key elements of the work experience. And this should all be in writing. The way you develop systems is quite simple. You take a piece of paper and describe the job step by step from the first function to the last list, every task must be completed to do the job well. You then review the job description with the people who are doing it to debug the process and ensure that it is accurate. Once you\’ve developed a complete description of a particular job or activity, it should be so clear that a new person can learn the job by simply following the system until he or she has memorized it and can do it automatically. What is most important is that the details of the job are put down on paper, rather than left in the mind and memory of the individual doing that job. The most important word in systems development is the word replicability. Every job must be systematized and documented so that an ordinary person can replicate it by simply following the steps that you have written down.

The final part of number seven in business planning and setting up business systems is for you to determine measures, metrics, and scorecards for every job and for every part of every job which is part of the Human Resource Management of the company. These are often called key success measures or critical success indicators. These are numbers that you can attach to any activity to determine whether or not that activity has been carried out satisfactorily. We often refer to key result areas. Those specific results must be achieved by each person in his or her particular job. Attach to each key result area is a standard of performance, a measure that tells the individual and the superior exactly how well that job has been done in every business. There is a critical number that is the key to the success or failure of the enterprise.

“Jim Collins, in his book Good to Great, calls this the economic denominator. The economic denominator in a business is the number that most accurately measures and determines the success of that business.”