Systematise
[transitive verb]: To
make or arrange something into a system.
The
benefits
of documenting your business
Getting the business know-how from people’s heads on
to paper takes effort and money, so is it worth it? The evidence suggests
it’s a good investment. Download
PDF (260KB).
Value | Profitability
| Success | Efficiency | Continuity
| Investment | Time-saving
| Proven
If
you ever wanted or
needed to sell your business most serious buyers would regard a
documented business a superior proposition. In a competitive
market this would differentiate your business and would almost
certainly help persuade a buyer to choose yours.
Therefore documentation increases the value of
your business.
By documenting your business you start
to understand how it actually works
rather than how it seems to work. With this understanding you can then
start improving the efficiency of the processes. You start working ‘on’
rather than always ‘in’ your business.
Therefore documentation leads
to increased productivity and profitability.
For the new owner an operations manual
is an instant source of know-how and information. They can ‘turn the key’
on their first day which will directly increase the likelihood of the
business succeeding. Less trial and error and more production and output
from day one. It’s better to be busy being productive and creative than
fighting fires caused by poor procedures and wrong assumptions.
Therefore
documentation is an important element of business success.
They say that knowledge gives
confidence. When training new staff would it be of any value to have their
daily and weekly tasks already written down? They could refer to it
whenever they need the information. You want them to get off to a good,
positive start and for them to understand the important detail of their
job.
Therefore documentation saves time,
boosts confidence
and reduces
training costs.
Documenting your policies, processes,
practices and procedures will help your business run more independently.
Less micro-management of personnel is required because personnel can
perform their tasks autonomously and depend less on their manager. Employees can also initiate and implement improvements and therefore
documentation makes people more resourceful,
satisfied and productive.
Typically the most successful businesses
capture their processes and procedures, practice them and then
continuously improve them. They depend less on the skill of a select few
‘stars’ and instead hire people who are willing to learn the ways of
the business.
Therefore documentation is proven in the
business world.
Are you prepared for the situation where
a key employee is unexpectedly absent or leaves? Much valuable information
about the business is stored only in people’s heads. But if their
replacement could refer to the accumulated know-how they could carry
things on at the required quality level, and therefore maintain customer
service and business
continuity. Done thoughtfully the documentation
will contain the relevant knowledge of everyone in the business, which
would otherwise be forgotten or has walked out the door.
If your business was ever subject to an
audit good documentation would show that you are doing things
professionally and may reduce
the duration and inconvenience
of the audit. It would show the auditor who does
what, when and how in your business and where information is stored and
used. It would also help your cause when it comes time to borrow
for business growth.
Are you missing out on sales
opportunities because business information is not readily available?
Having the intellectual capital of your business available to all will
help you win tenders and make sales and secure the future of your
business.
Therefore documentation is an investment not a cost.
Contact
us today
for our
complimentary service.
