In episode 113 of Financially Simple, Justin takes a look at Operations and Systems within a Business.

The Operations of a Business will effectively run the Business. How well those Operations Systems work, will determine how well the Business runs and its value growth. Justin looks at Operations Management and Operations Systems, and what Business Owners should consider to make these processes work for them.

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ARTICLE TRANSCRIPT: BLOG: Build Business Operational Systems for Maximum Value Growth

 

TIME INDEX:

01:24 - Operations Department vs. Operations Systems

01:57 - Ant Farm Operations

04:05 - Definition of Operations

04:28 - The Big “O”: Operations Management

05:47 - What the Operations Department Oversees

09:25 - The Little “o”: Operations Systems

11:29 - 10 Tips About Operations

11:56 - 1: Operations Include both People & Processes

12:35 - 2: People is Often the Largest Cost in an Organization

12:51 - 3: Most People Want to Do Good Work

13:26 - 4: There Are Very Few Quick Fixes in the Operations of Established Businesses

14:16 - 5: Operations is Not Rocket Science

14:55 - 6: Small Wins Build Motivation, Large Wins Improve ROI

15:17 - 7: Needing Help isn’t Always a Lack of Ability

16:19 - 8: Hidden Issues are Often Out of the Sight of the Owner or Management

17:18 - 9: Mitigation vs. Perfection

18:53 - 10: The Problem With Operating Systems is Usually a Weak Management System

19:31 - Closing

 

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Operations Management Definition

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BIO:

Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute’s Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast’s hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

 

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