A summary of things you should know about System Busters according to Philip Beyer: Introduction In this episode Philip Beyer takes a deep dive into his book, System Busters whereRead More
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]]>In this episode Philip Beyer takes a deep dive into his book, System Busters where he shares a tactical guide for eliminating typical business problems and making a business run better.
In his book Beyer provides a handful of case studies and success stories of business systems that are shared in a common sense fashion so you can implement the same effective strategies. The goal of the book is to teach you how to effectively systematize any business, how to overcome business struggles, and how to improve your strengths as a business owner.
This book is perfect for entrepreneurs who are fairly new to business, but are struggling when it comes to growing the business, meeting deadlines, finding time for personal life, and eliminating interruptions.
There are a lot of consultants and theories on business systems out there but I actually built and applied business systems from the ground up, measuring their results, and sustaining them for over 20 years. This book shares how we did it step by step in simple terms using true stories as examples. After reading our book I believe anyone can systematize and bring order to their business so that they don’t have to constantly be on site in order for their business to grow and prosper.
You can start at the beginning and read all the way through or you can jump in and out as needed.
If you ever want to get away from day to day operations and you want to own the business, not just have a job, you need a written operations manual for the business. Systems, systems, systems!
Chapters 1, 2, and 3 are about where to start, making the decision to systematize your business, and the why and beginning to mission. The small business administration says that over 50% of businesses fail in the first year. In 95% of those who make it past the first year fail in the first 5 years and the reason they fail is not for lack of sales, it’s due to burnout and miss management. In the first chapter I share my epiphany on systematizing my business, my decision making process, my commitment to change, and to do whatever it takes to bring my business to order. I go into detail how that journey began and what set me on that path. I talk about the obstacles and the pitfalls to look for and the people to avoid.
Chapters four and five are about writing it down and working on your business, not in your business. Most business owners are afraid to leave their office because they fear things will fall apart. If you want people to do things the way you would do them you need to write it down step by step and you’ll only have to write it down once. In this chapter I tell the story about a system that I implemented and how it freed up six hours a day for me which was when our business really started to grow. It took around 90 days to write and implement that system but it changed my life.
Chapters six and seven we discuss what systems are and the importance of being committed to them. I talk about how systems intersect and integrate, the mindset of the anti-system solution, and what most businesses use in place of this system.
Chapter nine – How to build systems and your operations manual, where do you start? We discuss when to build or not to build your system, we give stories on how building systems transformed our company, and the building block of a system.
Chapter ten through fourteen are about types of systems that empower employees and give people the tools they need to do a job as you would like it done. I show how to build various types of checklist systems, daily routines, quality and service controls. I share sales and marketing systems, how to build them, and true stories about their success. I talk about how to implement automatic marketing using the power of systems from your operations manual.
Chapter fifteen is about our software System 100. I have one page talking about how this journey led me to build software to automate what is normally manual systems in a company. With this software now we can help other companies systematize in a matter of months, not years.
Chapter sixteen through eighteen is about encountering opposition from employees, how to deal with it, and I use real true stories. I talk about how to not delegate your vision to someone else until you’ve completed the mission.
In chapter twenty I get into Total Quality Management and ISO systems and explain what they are and how not to be intimidated by them but to embrace them.
Chapter twenty-one is closing the circle and I recap how all these systems come together step by step.
NOTE: That was just a summary. To get the full deep dive, play the audio clip at 05:14
“A great system is a great tool to help people do a great job.” – Philip Beyer
I was born and raised in Louisiana and I moved to Nashville Tennessee in 1981. I’ve been self-employed since the age of 24. I am the owner and president of two Nashville base businesses, a commercial printing company called Beyer Printing, and a software company called System 100. I’m the father of three grown sons who work with me in our companies, the husband of a beautiful wife who is my editor and chief of our blogs, website content and this book.
I started Beyer printing in 1988 and after five years of steady growth I found myself in chaos working long, bogged down in daily operations, and no time for personal life. I found myself making good money but not having the free time with it. A friend gave me a book to read on business and systems. From there I was able to change our systems, free up a lot of my time, and eventually help other business do the same. That journey led me to writing System Busters.
The E-Myth Revisited by Michael Gerber
Buy System Busters by Philip Beyer on Amazon today
Visit System100.com to learn more about Philip and his company content
Download the full transcript here (coming soon)
Listen on iTunes, Stitcher , and SoundCloud
Related books:
Scaling Up by Verne Harnish
How To Ruin a Business Without Really Trying by MJ Gottlieb
How to Get Unstuck by Barry Moltz
Relevant advice and tips:
4 Common Reasons Why Startup Companies Fail
What did you like and not like about this episode? Fill out this one minute survey here.
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]]>Top Financial Mistakes Entrepreneurs Make When Creating a New Business Managing to keep the cash flowing is one of the biggest concerns for every new entrepreneur. And what makes itRead More
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]]>Top Financial Mistakes Entrepreneurs Make When Creating a New Business
Managing to keep the cash flowing is one of the biggest concerns for every new entrepreneur. And what makes it even more difficult is their unawareness of the pitfalls along their path. Creating a new business is a big task, and keeping the cash flowing is part of the responsibility.
Forbes states that “There are almost 28 million small businesses in the US and over 22 million are self employed with no additional payroll or employees (these are called non-employers)”. The question is – how many of them will survive in the long run?
Even if you have a winning idea, a superb product or an excellent service, you need to pay attention to your finances to transform it into a successful endeavor. And while you have to focus on the dos, you also need to be careful about the don’ts.
In order to make your transformation flawless, let’s take a look at the top financial mistakes entrepreneurs make at the start.
Mistake 1: Biting off more than you can chew. You need to dream big when you start out as an entrepreneur. But if your dreams don’t fit your budget, you are in for some big trouble. Keep your head in the clouds and your feet on the ground.
Suppose you sell handmade gifts online. Do you really need to have a physical store? No. Yes, it can add to your business. But if you are hard pressed for money (that you invariably are at the start), isn’t it a better idea to make it a home-based business initially?
Mistake 2: Underestimate expenses. Just like a business plan, you need to have a financial plan at the beginning. But it’s a little different. While you need to stick to your business plan, you need to tweak your financial plan a little.
What do you need to do? Just double whatever you have set as expenses! Many businesses fail because they underestimate just how much they will need to keep things running. Doubling the figures gives you a cushion to fall back on even at the last minute.
Mistake 3: Falling prey to the allure of new. A new office furnished with modern pieces and showcasing the latest gadgets may look and feel nice. But unless you need to meet clients at your office regularly, it’s just a waste.
As a new entrepreneur, you need to focus on how you can save money. Instead, of new furniture, opt for used ones. They will be good, and come cheap too. If possible, let go the idea of an office entirely or maybe get an office suite instead of the entire deal.
Mistake 4: Employing individuals. Everyone feels high and mighty when they are in a position to employ others. But consider your decision a hundred times before you do it. It is one of most expensive choices you may make, and it can quickly become a cause of concern.
Instead of full-time employees, opt for contractual professionals for your business. They may have a higher hourly rate, but you won’t be burdened with them once the contract runs out. And as they are experts, you save time and money on training and supervision too.
Mistake 5: Not having an exit plan. A new entrepreneur needs to aim for success and prepare for failure. While you need to put in every ounce of your time, money and effort into your endeavor, make sure you have a safety net in case anything goes wrong.
It’s best to keep aside an emergency fund that will come in useful if your business doesn’t break even in the time frame you have set. It’s imperative that you don’t break into this fund to try to save your failing business. This will see you through until your next venture.
Be wary of these top financial mistakes entrepreneurs make and you will be able to better manage your finances, right from the start.
If you are looking for great books that provide insights into the financial management of a new business, I recommend the following 5 reads:
Business in Blue Jeans by Susan Baroncini-Moe – Listen to my interview with Susan here
The Financially Savvy Entrepreneur by Emily Chase Smith – Listen to my interview with Emily here
The Millionaire Master Plan by Roger James Hamilton – Listen to my interview with Roger here
Think and Grow Rich by Napoleon Hill – Listen to my interview with Don Green here
How To Get Unstuck by Barry Moltz – Listen to my interview with Barry here
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]]>5 Mistakes Entrepreneurs Make With Marketing and Branding Marketing, when done correctly, is considered as an investment to a business. Since entrepreneurs can’t splurge huge amounts of money on theRead More
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]]>5 Mistakes Entrepreneurs Make With Marketing and Branding
Marketing, when done correctly, is considered as an investment to a business. Since entrepreneurs can’t splurge huge amounts of money on the promotion of their products and services like larger brands, they need to be very particular about their marketing plan to ensure that not a single marketing dollar gets wasted. A great marketing plan can bolster the market reputation of a business and can help it win the trust of its targeted audience eventually, whereas a bad marketing plan can hurt its business prospect in more than one way.
Building a brand image is never easy. It takes years to build a solid brand but it takes just a few seconds to ruin it. Don’t believe us? Well then, try posting something nasty via your company’s social profile and you will see how the reputation of your company comes crumbling down [safety notice – don’t try this at home/office].
The thing is that most entrepreneurs have no idea about promoting their brand and for that reason, they try different things only to find themselves in deep trouble at the end. Sometimes they prioritize product development over marketing and branding and sometimes, they just ignore the concept of branding altogether. Here are some 5 mistakes entrepreneurs make with marketing and branding:
You Have no Idea About Your Targeted Audience
Imagine a scenario that you are selling anti-aging products and you are targeting mainly teenage boys. The probable outcome of this bizarre marketing initiative is easy to predict – a big Disaster. You need to realize the truth that you simply can’t target everybody around. You need to identify your targeted audience first before even thinking about marketing products. Culture, age, sex, geographical locations etc all play pivotal role while choosing your targeted audience.
You Don’t Care About What People Are Saying About Your Brand
Some business owners tend to remain oblivious to the fact that people might be discussing about their brand right now on different social media sites. You may never know that an irate customer might be venting his anger by spitting venom about your brand on Facebook or Twitter and if you don’t intervene right now or don’t redress his problem, things might go out of your hand. You need to keep a hawk eye on different social media channels otherwise a small issue can get snowballed into a major crisis.
You Are Trying to Be Everywhere
Some business owners are of the opinion that they should be active on social media channels. Now, there are over hundreds of social networking sites available and that means, there is no way you can be active on all of them. Try to identify those platforms that draw large number of your targeted audience and be active on those platforms. Limit the number of official social account to 4 or 5.
You are Trying to Do Everything By Yourself
Some business owners try to do everything all by themselves. It is good to keep eyes on everything but it will drain all your energy at the end of the day. Moreover, sometimes it is good to appoint a professional rather than doing all by yourself and messing things up miserably.
Your Business Does not Have a Website
You gotta be kidding, right? Why would a business not have an official website in the digital world today? To boost the brand presence of your business on the web, your business needs to have a website. There is no way around it. You need to invest some marketing dollars on design, hosting and content. Make the website live as soon as possible otherwise all your attempts to bolster the brand presence of your business will fall flat on the ground.
If you are looking for some great books that provide insights into marketing and branding, I recommend the following 5 reads:
Guerrilla Marketing in 30 Days by Jay Conrad Levinson and Al Lautenslager – Listen to my interview with Al here
Business in Blue Jeans by Susan Baroncini-Moe – Listen to my interview with Susan here
Startup Mixology by Frank Gruber – Listen to my interview with Frank here
Everyday Entrepreneurs by Ken Horn – Listen to my interview with Ken here
How To Get Unstuck by Barry J Moltz – Listen to my interview with Barry here
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]]>A summary of things you should know about How To Get Unstuck according to Barry Moltz Introduction In this episode Berry Moltz shares his book, How To Get Unstuck, whereRead More
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]]>In this episode Berry Moltz shares his book, How To Get Unstuck, where he helps entrepreneurs identify the top pain points they are stuck on. His book takes you through the major areas where entrepreneurs tend to get stuck such as marketing, sales, management leadership, social media, and customer service.
This book is very much a direct, to the point, book. I point out the problems and give you the answers to fix it.
I suggest the reader look at the table of contents and find their answers that way.
The most important and difficult part to change is letting go of what you’re currently doing today and trying something new. And you need to focus on just one change at a time.
The book revolves around six major areas where people typically get stuck. The first one is sales and marketing. The second is management leadership. The third one is money. The four one is proactivity. The fifth one is social media and the sixth is customer service. Typically people are stuck more in one area than another. They treat their business like it’s a job, they are so desperate to earn money to support their family or pay for their employee’s and they end up saying yes to anything customers want. And as a result their business just drips along and the solution is that you have got to decide what business your company really is and try to stick to that niche.
The second problem is when people start a successful business once, they sometimes think they can do it again and again with no problem. The solution here is to hire people that are complementary to you and willing to collaborate with you and always not tell you just what you want to hear.
The third area where people get stuck is this idea that they let todays emergencies dictate their plan. They are addicted to multitasking and constantly let other people interrupt their day. The way to solve this problem is before you end work you need to think about two things that you want to get done the next day. That way the next day will be productive and not just busy. When you get in the office do those two things first that way the rest of your day will be productive.
The fourth area where people get stuck is that they never take a vacation from work. They have this fear of falling behind and technology pushing us and they measure their success by being busy and productive. You must take time during your day and week to recharge and leave technology behind.
The fifth area where people get stuck is that they think that being successful in business is all about taking dangerous risks instead of calculated actions. They end up wasting resources by jumping in without testing the waters. The key here is to take patient interim steps.
The sixth area where people get stuck is when their customers can’t find them when they are ready to buy. You must figure out where your customers are shopping for what they are buying. People also hate sells and are afraid of rejection and the word no. This is where a good content marketing strategy, staying with customers over a period of time, really works out. These are just a few of the 25 areas where people tend to get stuck.
“Don’t confuse the idea with being busy, with being productive.” – Berry J. Moltz
I work with small businesses to get people unstuck and had three businesses the last 20 years. The first business went out of business, the second business I was kicked out by my two partners and the third business I was lucky enough to sell in July of 1999 and paid back the bank the 1.3 million I owed them.
There are a lot of books out there that focus on one specific area where they help start entrepreneurs get their company off the ground. What happens is a lot of people start a business and after two or three years the business isn’t where they thought it would be and that’s typically because they are stuck in one of five areas. I identify the top 25 things that are going through their minds where they are stuck and show them how to get unstuck.
Growing a Business by Paul Hawken
Buy How To Get Unstuck by Barry Moltz on Amazon today
Visit BarryMoltz.com to learn more about Barry and his book
Follow Barry Moltz on Twitter
Download the full transcript here
Listen on iTunes, Stitcher , and SoundCloud
Related books: The Toilet Paper Entrepreneur: The tell-it-like-it-is guide to cleaning up in business, even if you are at the end of your roll by Mike Michalowicz | Body of Work: Finding the Thread That Ties Your Story Together by Pamela Slim | People Tools for Business by Alan Fox
Relevant advice and tips: 5 Mistakes Entrepreneurs Make With Marketing and Branding
What did you like and not like about this episode? Fill out this one minute survey here.
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