Companies which are seeking support from investors need to be able to show an awareness of the need to build systems and processes within the business, to ensure that the Leadership Team is receiving key information in real-time.
The main systems are:
Position and consistency: The business will achieve consistent quality results by implementing business processes detailing how tasks should be completed.
Save time and money: If the team members have been trained to know how to do something and to do it in the same way each time, eventually they will become much better and faster at performing the task. This saves time and money and should give the business a competitive advantage.
Assists scalability: With the difficult operating conditions that businesses are now confronting, when you have set systems, it is a lot easier to hire new staff, on-board and train them in “this is how we do it here” approach - rather than leaving them to develop their own system.
Leadership team benefit: The implementation of “system processes” throughout a business assists the Leadership Team because they are not having to spend as much time in direct supervision and they can concentrate on other business development activities.
A summary of some of the systems that could be implemented include: