The Ops Authority

How can you measure the effectiveness of your business? And how do you create these measurements? In this episode, you’ll learn what a KPI is and how to establish KPIs for the most important areas in your small business. There’s no need to be overwhelmed by setting KPIs because I’ll show you how to do it in five easy steps. 

 

What is a KPI?

KPI is an ominous acronym that makes you feel like, “I’ll come back to that later.” A KPI is a Key Performance Indicator. It’s a measured value, which measures how effective your organization or business is in achieving its goals. 

 

KPIs are so great because they provide you and your team with feedback on exactly how you’re doing, they allow you to cast a vision, and they measure how you’re attaining what you set out to do.

How to Establish a KPI for Your Business

1. Start with your vision. What is the vision you have for your business? You’ll want to have a 6-12 month vision and a 3-year vision. Your vision should be big and defines success for you in the next 12 - 36 months. Put your vision on paper. Want to learn more about vision? Go here.
2. What is the goal this year that you’ll focus on that gets you closer to your vision?
3. Rank the seven strategic objectives. Then determine your top three to four.
4. Create a metric that ties back to your vision. For example, if visibility is one of your top strategic objectives, ask yourself, “What am I doing from a visibility perspective to help me reach my vision?” Every metric must tie back to a strategic objective.
5. Ask yourself these questions:
   1. “If I was to succeed with ______, what would the outcome be?
   2. “How will I measure this?”
   3. “Who’s responsible for it?”

 

 

You may pull a lot of metrics, but not all are worthy of being called a KPI. You should have between three and five KPIs. You may pull metrics for 30 areas, but you’ll have a limited number of KPIs.

 

You may need to pull data daily, weekly, monthly or quarterly to determine if you’re reaching your KPIs. 

 

Examples of KPIs for the Different Pillars

1. Financial Steadiness: revenue, profit, operating expenses, customer lifetime value
2. Visibility: conversion percentage, cost per lead, site visits, number of subscribers
3. Product Creation + Refinement: sales rate, average order value
4. Operational Excellence: ROI
5. Team Growth: task completion rate, on-time percentage, employee turnover
6. Customer Experience: net promoter score, retention rates

 

Previous Episodes Mentioned

Ep. 4: The Core of Business: Mission, Vision, Values

Ep. 5: The Seven Pillars to Your Business Strategy

Key Quotes from the Episode:

“KPIs are metrics that will measure how effective your business is achieving its goals.”

“Every KPI is a metric, but not every metric is a KPI.” 

 

Connect with Me:

Website

Private Facebook Community

Facebook Page

Instagram

 

This episode was originally published on theopsauthority.com/podcast/6

As a small business owner, you feel pulled in a thousand directions, right? Well, there are seven reasons for this because there are seven areas vying for your attention all day, every day. Keep in mind that in the corporate world, there's a C-level position for all seven of these areas.

So what are the seven areas clamoring for your attention? How can you prioritize them? What are the questions you need to ask yourself as you build, grow, or scale your business? Tune in to this episode where guest and certified DOO Andrea Layne and I break down the seven pillars of your business and what you can do next to make your business thrive.

The Seven Pillars to Your Business Strategy

There are seven areas in your business pulling for your attention. Let's break them down:

1. Financial Steadiness

This is not all about revenue, but establishing a solid financial foundation. Ask yourself these questions as you think through this pillar:

• Are my business expenses categorized each month?
• Do I look at my profit and loss statement?
• Am I saving for taxes?
• Do I know how much I need to bring home?
• When will I carve out time to get this done?

In the corporate world, the CFO would oversee these responsibilities.

2. Visibility

You may spend a lot of time here because you want people to be aware of your product, but don't spend so much time here that you neglect the other six pillars.

Think through these questions:

• Is my getting name out there?
• Do people know me?

In the corporate world, the CMO would oversee these responsibilities.

3. Product Creation and Refinement

This area is responsible for generating revenue. It's exciting to dream up new products and services, but you must also integrate and execute these ideas within the context of your mission. You'll also want to keep refining and improving your current products.

Ask yourself these questions as you think through this pillar:

• How will I strategically provide my product?
• How will I price it?
• How do I get it into the marketplace?

4. Operational Excellence

This is about people, systems, and software coming together so your business works effectively. This pillar involves automations and workflows. You get time back when you systematize.

Ask yourself these questions as you think through this pillar:

• What processes will I automate?
• How will my processes fit together to make my business run effectively and efficiently?
• What standard operating procedures can I put in place?
• How can you systematize my business?

You can't scale without systems. What do we mean by "scale?" There are three phases of business:

1. The building phase is your start-up phase.
2. The growing phase means you have established revenue and you're looking to increase profit margin. Think of the growing phase as addition.
3. The scaling phase brings in more team members to get products out faster. Think of the scaling phase as the multiplication.

In the corporate world, the COO would oversee these responsibilities.

5. Team Growth

Who do you need on your team to scale your business? You need human capital to run and grow your business because it helps you multiply yourself. In this phase you may lean on a VA, DOO, strategists, or a graphic designer.

Ask yourself these questions as you think through this pillar:

• Am I providing a succession plan for my team members?
• How can I retain the people most helping my business?
• Do I bring people on as independent contractors or employees?

In the corporate world, the CAO would oversee these responsibilities.

6. Customer Experience

This is about how you'll delight your customers. Customer Experience involves thinking through what your client will do once she's signed on. This pillar isn't about gifts, but more about communication and interacting with your customer throughout your relationship together.

Ask yourself these questions as you think through this pillar:

• How will I onboard?
• What's the process for contracts?
• How will I invoice my client?
• How will we communicate?
• What expectations do I need to set?
• What's the best way to build a relationship with this client?

In the corporate world, the "Director of Happiness" or "Director of Community" would oversee these responsibilities.

7. Growth + Development

This is about how your professional growth. Ask yourself these questions as you think through this pillar:

• What books, courses, paid groups, or masterminds will benefit me?
• What are my work boundaries, and am I articulating those to my family and clients?
• Do I need to stop learning and start doing?

Weekly Ops Activity

1. Spend 30 minutes and prioritize these seven pillars for yourself. Label them from 1 through 7.
2. Think about one task or project in each area that needs to be addressed.
3. Post your priority list in the FB group.

Note: In your business, you will spend most of your time on your top two to three pillars. Stay focused!

Key Quotes from the Episode:

• "Know that visibility is at the top for most businesses."
• "When you can make your operations more streamlined and more efficient, that's where you gain a lot of momentum." - Andrea Layne
• "You're going to scale by using human capital to create growth in your business."
• "So much of the customer experience comes down to clear communication."
• "The seven pillars don't go away. We just learn how to prioritize them better and outsource the weakest links."
• "What happens with too many distractions? We never meet our vision."

Connect with Andrea Layne

Andrea Layne is a business engineer who helps her clients take their vision and put smart strategies behind it so they can build a business to last. She started her career in 1999 in a Big Five Firm and serving as a business consultant, then IT project manager for Fortune 100 corporations over 11 years. This experience gave her a foundation and process for helping businesses run more effectively. She has always loved design and art, and in 2011, she decided it was time to pursue this passion.

Andrea built a high-end wedding floral design company serving the Tampa Bay market until 2017. While she adored "playing with flowers" all the time, she realized it was taking her away from her family more and more as it grew. So after 6 years, she knew it was time to pursue a different option. That's when Andrea came back to her roots as a consultant, but this time working with creative, service-oriented entrepreneurs to guide them to financial success with less overwhelm.

She knows big business.... she has strategized systems and engineered software for giant corporations. And she deeply knows small business, because Andrea has been there in the trenches.... making mistakes and having successes. She knows what it's like to battle profit margins, feel the weight of wearing all the hats, and worry if she could ever make enough to actually pay her bills through her creative passion.

Andrea took all that she learned on this life journey to create services so her clients can breakthrough the ceiling of stress in their business and finally achieve their goals with sustainable foundations.

Andrea completed the Director of Operations Certification in 2018.

To connect with Andrea Layne, visit her here:

Website

Instagram

Email: [email protected]

Connect with Me:

Website

Private Facebook Community

Facebook Page

Instagram

This episode was originally published on theopsauthority.com/podcast/5

As a small business owner, you feel pulled in a thousand directions, right? Well, there are seven reasons for this because there are seven areas vying for your attention all day, every day. Keep in mind that in the corporate world, there’s a C-level position for all seven of these areas. 

 

So what are the seven areas clamoring for your attention? How can you prioritize them? What are the questions you need to ask yourself as you build, grow, or scale your business? Tune in to this episode where guest and certified DOO Andrea Layne and I break down the seven pillars of your business and what you can do next to make your business thrive.

 

The Seven Pillars to Your Business Strategy 

There are seven areas in your business pulling for your attention. Let’s break them down:

 

1. Financial Steadiness

This is not all about revenue, but establishing a solid financial foundation. Ask yourself these questions as you think through this pillar:

• Are my business expenses categorized each month?
• Do I look at my profit and loss statement?
• Am I saving for taxes?
• Do I know how much I need to bring home?
• When will I carve out time to get this done?

 

In the corporate world, the CFO would oversee these responsibilities.

 2. Visibility

You may spend a lot of time here because you want people to be aware of your product, but don’t spend so much time here that you neglect the other six pillars. 

 

Think through these questions:

• Is my getting name out there?
• Do people know me?

 

In the corporate world, the CMO would oversee these responsibilities.

 

3. Product Creation and Refinement

This area is responsible for generating revenue. It’s exciting to dream up new products and services, but you must also integrate and execute these ideas within the context of your mission. You’ll also want to keep refining and improving your current products. 

 

Ask yourself these questions as you think through this pillar:

• How will I strategically provide my product?
• How will I price it?
• How do I get it into the marketplace?

 

4. Operational Excellence

This is about people, systems, and software coming together so your business works effectively. This pillar involves automations and workflows. You get time back when you systematize. 

 

Ask yourself these questions as you think through this pillar:

• What processes will I automate?
• How will my processes fit together to make my business run effectively and efficiently?
• What standard operating procedures can I put in place?
• How can you systematize my business?

 

You can’t scale without systems. What do we mean by “scale?” There are three phases of business:

1. The building phase is your start-up phase.
2. The growing phase means you have established revenue and you’re looking to increase profit margin. Think of the growing phase as addition.
3. The scaling phase brings in more team members to get products out faster. Think of the scaling phase as the multiplication.

 

In the corporate world, the COO would oversee these responsibilities.

 

5. Team Growth

Who do you need on your team to scale your business? You need human capital to run and grow your business because it helps you multiply yourself. In this phase you may lean on a VA, DOO, strategists, or a graphic designer. 

 

Ask yourself these questions as you think through this pillar:

• Am I providing a succession plan for my team members?
• How can I retain the people most helping my business?
• Do I bring people on as independent contractors or employees?

 

In the corporate world, the CAO would oversee these responsibilities.

  6. Customer Experience

This is about how you’ll delight your customers. Customer Experience involves thinking through what your client will do once she’s signed on. This pillar isn’t about gifts, but more about communication and interacting with your customer throughout your relationship together. 

 

Ask yourself these questions as you think through this pillar:

• How will I onboard?
• What’s the process for contracts?
• How will I invoice my client?
• How will we communicate?
• What expectations do I need to set?
• What’s the best way to build a relationship with this client?

 

In the corporate world, the “Director of Happiness” or “Director of Community” would oversee these responsibilities.

 

7. Growth + Development

This is about how your professional growth. Ask yourself these questions as you think through this pillar:

• What books, courses, paid groups, or masterminds will benefit me?
• What are my work boundaries, and am I articulating those to my family and clients?
• Do I need to stop learning and start doing?

 

Weekly Ops Activity

1. Spend 30 minutes and prioritize these seven pillars for yourself. Label them from 1 through 7.
2. Think about one task or project in each area that needs to be addressed. 
3. Post your priority list in the FB group.

 

Note: In your business, you will spend most of your time on your top two to three pillars. Stay focused!

 

Key Quotes from the Episode:

• “Know that visibility is at the top for most businesses.”
• “When you can make your operations more streamlined and more efficient, that’s where you gain a lot of momentum.” - Andrea Layne 
• “You’re going to scale by using human capital to create growth in your business.”
• “So much of the customer experience comes down to clear communication.”
• “The seven pillars don’t go away. We just learn how to prioritize them better and outsource the weakest links.”
• “What happens with too many distractions? We never meet our vision.”

 

Connect with Andrea Layne

Andrea Layne is a business engineer who helps her clients take their vision and put smart strategies behind it so they can build a business to last. She started her career in 1999 in a Big Five Firm and serving as a business consultant, then IT project manager for Fortune 100 corporations over 11 years. This experience gave her a foundation and process for helping businesses run more effectively. She has always loved design and art, and in 2011, she decided it was time to pursue this passion. 

 

Andrea built a high-end wedding floral design company serving the Tampa Bay market until 2017. While she adored "playing with flowers" all the time, she realized it was taking her away from her family more and more as it grew. So after 6 years, she knew it was time to pursue a different option. That's when Andrea came back to her roots as a consultant, but this time working with creative, service-oriented entrepreneurs to guide them to financial success with less overwhelm. 

 

She knows big business.... she has strategized systems and engineered software for giant corporations. And she deeply knows small business, because Andrea has been there in the trenches.... making mistakes and having successes. She knows what it's like to battle profit margins, feel the weight of wearing all the hats, and worry if she could ever make enough to actually pay her bills through her creative passion.

 

Andrea took all that she learned on this life journey to create services so her clients can breakthrough the ceiling of stress in their business and finally achieve their goals with sustainable foundations.

 

Andrea completed the Director of Operations Certification in 2018.

 

To connect with Andrea Layne, visit her here:

Website

Instagram

Email: [email protected]

 

Connect with Me:

Website

Private Facebook Community

Facebook Page

Instagram

 

This episode was originally published on theopsauthority.com/podcast/5

What's the difference between your mission statement and vision statement? Where do values fit in? Why is it so important to articulate these pieces?

The core of your business is your mission, vision, and values. You need to clearly identify and articulate what these are, especially as you bring on members for your team. Walk through the mission, vision, and values exercise with a free workbook I created just for you. Just go here to grab it.

Why Mission, Vision, and Values are Important to Your Business

Your business will change so quickly and you'll want to review these foundational pieces annually. If you have a team, sit down and do this exercise with them. Having a mission, vision, and values gives you a framework to refer back to as opportunities pop up.

Your Mission Statement

Define your mission statement, a.k.a. your declaration of purpose. Why is your business a business? The mission statement will be concise and specific so customers understand your purpose and how you provide value.

To test your mission statement, ask yourself, "Would my competitors use this exact same statement?"

Use these questions to craft your mission statement:

• What do I do?
• How do I do it?
• Who do I do it for?
• What value do I bring?
• Why do I exist as an organization?
• What do I provide for my customers?
• What will I be remembered for?
• What's my overall intention?
• What do I do well that nobody else does?

It all goes back to your declaration of purpose. Your mission should articulate who you're working with, what services you offer, and what your priorities are. Remember that your mission statement is actionable.

Your Vision Statement

Your vision statement is aspirational and dreamy. It's how your business would exist in its most successful state. The vision is a broad view of how your company will leave a big impact on your customers and the community you serve. If you were to meet all of your goals, what would your company be like in 5-10 years?

You don't have to have a solution. Just dream big.

Think about where your business is going in the future and what problems you expect to solve that you're not solving today. It could start with, "By 2025, my organization will …"

Vision statements are internal. You won't see it on your website or in sales copy. It doesn't need to be shared with those outside your organization.

Your Core Values

Describe what your organization believes in and how it behaves. Your values make up the moral compass for your company.

Use these questions to craft your core values:

• What are my guiding principles?
• What are my core beliefs?
• What do I stand for?
• What am I opposed to?
• What type of clients do I like to work with?

For me, I value candor, leadership, details, reliability, and honesty.

Don't skip over this step. As you hire, these core values will guide you to the right person.

Remember to get the free download to walk you through these exercises.

Weekly Ops Activity

Go to the Ops Insiders Community and attach a picture of you working through the free mission, vision, and values guide. Then expect a prize!

Not in our private group yet? Click here to join.

Key Quotes from the Episode:

"The vision helps drive your dreams."

"Your values tell the world what you're about."

"Regardless of the size of your business, your core values have to be stated."

Connect with Me:

Website

Private Facebook Community

Facebook Page

Instagram

This episode was originally published on theopsauthority.com/podcast/4

What’s the difference between your mission statement and vision statement? Where do values fit in? Why is it so important to articulate these pieces?

 

The core of your business is your mission, vision, and values. You need to clearly identify and articulate what these are, especially as you bring on members for your team. Walk through the mission, vision, and values exercise with a free workbook I created just for you. Just go here to grab it. 

 

Why Mission, Vision, and Values are Important to Your Business

Your business will change so quickly and you’ll want to review these foundational pieces annually. If you have a team, sit down and do this exercise with them. Having a mission, vision, and values gives you a framework to refer back to as opportunities pop up. 

 

Your Mission Statement

Define your mission statement, a.k.a. your declaration of purpose. Why is your business a business? The mission statement will be concise and specific so customers understand your purpose and how you provide value. 

 

To test your mission statement, ask yourself, “Would my competitors use this exact same statement?”

 

Use these questions to craft your mission statement:

• What do I do?
• How do I do it?
• Who do I do it for?
• What value do I bring?
• Why do I exist as an organization?
• What do I provide for my customers?
• What will I be remembered for?
• What’s my overall intention?
• What do I do well that nobody else does?

 

It all goes back to your declaration of purpose. Your mission should articulate who you’re working with, what services you offer, and what your priorities are. Remember that your mission statement is actionable.

 

Your Vision Statement 

Your vision statement is aspirational and dreamy. It’s how your business would exist in its most successful state. The vision is a broad view of how your company will leave a big impact on your customers and the community you serve. If you were to meet all of your goals, what would your company be like in 5-10 years?

 

You don’t have to have a solution. Just dream big.

 

Think about where your business is going in the future and what problems you expect to solve that you’re not solving today. It could start with, “By 2025, my organization will …” 

 

Vision statements are internal. You won’t see it on your website or in sales copy. It doesn’t need to be shared with those outside your organization.

 

Your Core Values

Describe what your organization believes in and how it behaves. Your values make up the moral compass for your company. 

Use these questions to craft your core values:

• What are my guiding principles?
• What are my core beliefs?
• What do I stand for?
• What am I opposed to?
• What type of clients do I like to work with?

 

For me, I value candor, leadership, details, reliability, and honesty. 

 

Don’t skip over this step. As you hire, these core values will guide you to the right person. 

 

Remember to get the free download to walk you through these exercises. 

Weekly Ops Activity

Go to the Ops Insiders Community and attach a picture of you working through the free mission, vision, and values guide. Then expect a prize!

 

Not in our private group yet? Click here to join.

 

Key Quotes from the Episode:

“The vision helps drive your dreams.” 

“Your values tell the world what you’re about.”

“Regardless of the size of your business, your core values have to be stated.” 

 

Connect with Me:

Website

Private Facebook Community

Facebook Page

Instagram

 

This episode was originally published on theopsauthority.com/podcast/4

What is a business foundation and how do you create one? How can you have a greater sense of what's going on in your business?

In this episode, I'll walk you through a business summary and strategic operations planning. If you've ever wondered how to be more organized and intentional about growing your business from the foundation up, then this episode is a must-listen.

Decades ago, starting a business including going to a physical bank with a written business plan, which was analyzed by a committee. In order to get funding for your business, a sound plan was essential.

A business plan is just as important today as it was decades ago. Why? When you have a business plan, you improve the trajectory of where your business is going and you have a must greater sense of what is and will happen in your future. You'll also be more organized.

The Essentials of Your Business Foundation 1. Business Summary

This involves some thinking time! Your business summary is your true foundation and the reason you're in business.

A business summary is comprised of six parts:

1. Mission - What do you do and who do you serve?
2. Vision - Where will your business be in five years? What does success look like?
3. Values - What characteristics and qualities are really important to you?
4. Boundaries - What limits will you set around your work day or vacations?
5. Avatar - Who is your ideal customer?
6. Competitors - Who sells a similar product and how are you different?

2. Future Accomplishments

What will you accomplish by this time next year? What does success look like for you in 12 months? Think about:

• Profit
• Revenue
• Clients
• Anecdotal feedback, i.e. your ideal testimonial

3. Your Financial Needs

How much do you need to bring in every month or quarter?

My husband and I sit down once a year and determine what I need to contribute to our household. We have three financial goals:

• The Good Number is what I need to contribute to cover the basics.
• The Better Number is just a step above from the the Good Number.
• The Best Number is a stretch goal that's off the charts, and may only be reached with something like a launch. The Best Number isn't something I'll reach each month.

4. What You Sell

What are your offers? If you're new in business, you may have quite a few products or services, but this should decrease over time.

Look at your offers then look at your Good Number. Determine how many products you need to sell to meet your Good Number.

These four pieces of your business foundation make up the backbone of your business. Now, let's move into my proprietary framework.

5. Strategic Planning

These seven pieces comprise strategic operations planning for your business:

1. Financial Steadiness
2. Product Development + Innovation
3. Scaling + Growing Your Team
4. Operational Efficiencies
5. Development + Growth
6. Visibility + Marketing
7. Customer + Client Experience

Look at all seven areas in your business then determine your priorities 1 through 7 because you only have so much time. HINT: Your financial steadiness is almost always the #1 priority.

6. What Does Success Look Like (KPIs)

Now you need to measure these priorities. Determine your key performance indicators (KPI) for these seven areas because you want to know if you're succeeding. What metric will you use to validate that you're doing well?

For example, let's say Visibility + Marketing is your #2 priority. You want more eyes on your business so your KPI may be how many views you need on your website each week to earn a profit. You may need 30,000 page views to earn $15,000. Or you may determine the number of people you need at the top of your sales funnel to reach a financial goal.

How are you tracking what you're doing so you can analyze data and then change course?

7. Your Annual Plan

The annual plan looks at your market. For example, if you sell paper planners, when does your audience start to think about planners? When is your prime selling cycle? Make notes from your competitors and see when they sell and promote.

You'll also want to think through when you want to take vacation time. For me, I'm less productive in summer and Christmas. Document what you're doing so you don't plan launches when you'd rather be with your family on vacation.

You also want to be intentional with your marketing schedule. Think about what your offers are and when you'll launch a new product.

Weekly Ops Activity

1. Go to theopsauthority.com/foundation to access the free Trello board
2. Complete your business foundation
3. Screenshot and share inside the Ops Insiders group!

Key Quotes from the Episode:

"A business plan is just as important today as it was decades ago."

"Everything hinges on mission, vision, and values."

"An uneducated owner is one that can easily be taken down very quickly."

Connect with Me:

Website

Private Facebook Community

Facebook Page

Instagram

This episode was originally published on theopsauthority.com/podcast/3

What is a business foundation and how do you create one? How can you have a greater sense of what’s going on in your business? 

 

In this episode, I’ll walk you through a business summary and strategic operations planning. If you’ve ever wondered how to be more organized and intentional about growing your business from the foundation up, then this episode is a must-listen.

 

Decades ago, starting a business including going to a physical bank with a written business plan, which was analyzed by a committee. In order to get funding for your business, a sound plan was essential. 

 

A business plan is just as important today as it was decades ago. Why? When you have a business plan, you improve the trajectory of where your business is going and you have a must greater sense of what is and will happen in your future. You’ll also be more organized. 

 

The Essentials of Your Business Foundation 1. Business Summary

This involves some thinking time! Your business summary is your true foundation and the reason you’re in business.

 

A business summary is comprised of six parts:

1. Mission - What do you do and who do you serve?
2. Vision - Where will your business be in five years? What does success look like? 
3. Values - What characteristics and qualities are really important to you? 
4. Boundaries - What limits will you set around your work day or vacations? 
5. Avatar - Who is your ideal customer?
6. Competitors - Who sells a similar product and how are you different?

 

2. Future Accomplishments

What will you accomplish by this time next year? What does success look like for you in 12 months? Think about:

 

• Profit
• Revenue
• Clients
• Anecdotal feedback, i.e. your ideal testimonial

 

3. Your Financial Needs

How much do you need to bring in every month or quarter? 

 

My husband and I sit down once a year and determine what I need to contribute to our household. We have three financial goals:

 

• The Good Number is what I need to contribute to cover the basics.
• The Better Number is just a step above from the the Good Number.
• The Best Number is a stretch goal that’s off the charts, and may only be reached with something like a launch. The Best Number isn’t something I’ll reach each month. 

 

4. What You Sell

What are your offers? If you’re new in business, you may have quite a few products or services, but this should decrease over time. 

 

Look at your offers then look at your Good Number. Determine how many products you need to sell to meet your Good Number. 

 

These four pieces of your business foundation make up the backbone of your business. Now, let’s move into my proprietary framework.

 

5. Strategic Planning

These seven pieces comprise strategic operations planning for your business:

1. Financial Steadiness
2. Product Development + Innovation
3. Scaling + Growing Your Team
4. Operational Efficiencies
5. Development + Growth
6. Visibility + Marketing
7. Customer + Client Experience

 

Look at all seven areas in your business then determine your priorities 1 through 7 because you only have so much time. HINT: Your financial steadiness is almost always the #1 priority. 

 

6. What Does Success Look Like (KPIs)

Now you need to measure these priorities. Determine your key performance indicators (KPI) for these seven areas because you want to know if you’re succeeding. What metric will you use to validate that you’re doing well?

 

For example, let’s say Visibility + Marketing is your #2 priority. You want more eyes on your business so your KPI may be how many views you need on your website each week to earn a profit. You may need 30,000 page views to earn $15,000. Or you may determine the number of people you need at the top of your sales funnel to reach a financial goal.

 

How are you tracking what you’re doing so you can analyze data and then change course?

 

7. Your Annual Plan 

The annual plan looks at your market. For example, if you sell paper planners, when does your audience start to think about planners? When is your prime selling cycle? Make notes from your competitors and see when they sell and promote.

 

You’ll also want to think through when you want to take vacation time. For me, I’m less productive in summer and Christmas. Document what you’re doing so you don’t plan launches when you’d rather be with your family on vacation.

 

You also want to be intentional with your marketing schedule. Think about what your offers are and when you’ll launch a new product. 

Weekly Ops Activity

1. Go to theopsauthority.com/foundation to access the free Trello board
2. Complete your business foundation
3. Screenshot and share inside the Ops Insiders group!

 

Key Quotes from the Episode:

“A business plan is just as important today as it was decades ago.”

“Everything hinges on mission, vision, and values.”

“An uneducated owner is one that can easily be taken down very quickly.”

 

Connect with Me:

Website

Private Facebook Community

Facebook Page

Instagram

 

This episode was originally published on theopsauthority.com/podcast/3

What is a director of operations? What does this role do? And how do you go about finding one? In this episode, you'll learn all about the skills your Director of Operations (DOO) needs and what a DOO does not do. Plus, you'll get your weekly ops activity to keep your business moving forward.

Let's say you have a 2-year-old business. It's doing well and you're contributing to your family's finances. However, you're physically and emotionally exhausted. You are stressed out and in reaction mode. Everything you do is about task and nothing is being done to move your vision forward.

If this seems familiar, you're not alone. Actually, you are alone! You need strategic help because at some point, something has to give.

All About the Director of Operations Role

You need someone who can read your mind, anticipate your needs, loves your business like you do, and manages both your team and tasks. It's likely you need a DOO. A DOO leaves you to focus on strategy, develop new products, and gain visibility.

Skills Your DOO Needs

When you're ready for a DOO, here are the skills you'll look for:

• A project-management skill set, a.k.a. the ability to take a large project and break it down into smaller tasks
• Excellent people skills
• Solid people-management experience (he or she may have an HR background)
• Excellent leadership skills
• Ability to candidly and easily communicate
• Eye for quality
• Analytical mindset
• Ability to read financial statements
• Elevated thinking so he or she can be your chief strategic partner
• Naturally-curious mindset

A DOO should pay for herself in about 60 days.

A DOO is not:

• A subject-matter expert in your industry. She is an expert in operations.
• Implementing ideas because she's leading people to drive results.
• A "yes" person. Instead, she will hold you accountable to the boundaries and goals you've set.

What Working with a DOO Looks Like

You'll start with strategic mapping. This process includes sharing your vision, priorities, and objectives with your DOO. You'll set timeframes and Key Performance Indicators for your goals. This process will help you turn your dreams into reality and will give you more white space to dream because your ideas are well-documented and shared with another person.

After mapping out your strategy, you'll stay in touch with your DOO once a week or twice a month. This short meeting shares progress updates.

How to Find a DOO

I can place and match you with the right DOO for you when you go here.

You can also certify a current team member when you go here.

Weekly Ops Activity

Set a goal for your DOO hire date and post your answer inside our private Ops Insiders community.

If you haven't joined us yet, do so here.

Connect with Me:

Website

Private Facebook Community

Facebook Page

Instagram

Key Quotes from the Episode:

"Directors of operations maximize efficiency, productivity, and profit in your business."

"Bottom line: directors of operations cultivate stronger businesses for you."

This episode was originally published on https://theopsauthority.com/podcast/2

What is a director of operations? What does this role do? And how do you go about finding one? In this episode, you’ll learn all about the skills your Director of Operations (DOO) needs and what a DOO does not do. Plus, you’ll get your weekly ops activity to keep your business moving forward. 

 

Let’s say you have a 2-year-old business. It’s doing well and you’re contributing to your family’s finances. However, you’re physically and emotionally exhausted. You are stressed out and in reaction mode. Everything you do is about task and nothing is being done to move your vision forward. 

 

If this seems familiar, you’re not alone. Actually, you are alone! You need strategic help because at some point, something has to give. 

 

All About the Director of Operations Role

You need someone who can read your mind, anticipate your needs, loves your business like you do, and manages both your team and tasks. It’s likely you need a DOO. A DOO leaves you to focus on strategy, develop new products, and gain visibility. 

 

Skills Your DOO Needs

When you’re ready for a DOO, here are the skills you’ll look for:

• A project-management skill set, a.k.a. the ability to take a large project and break it down into smaller tasks
• Excellent people skills
• Solid people-management experience (he or she may have an HR background)
• Excellent leadership skills
• Ability to candidly and easily communicate
• Eye for quality
• Analytical mindset
• Ability to read financial statements
• Elevated thinking so he or she can be your chief strategic partner
• Naturally-curious mindset

 

A DOO should pay for herself in about 60 days.

 

A DOO is not:

• A subject-matter expert in your industry. She is an expert in operations.
• Implementing ideas because she’s leading people to drive results.
• A “yes” person. Instead, she will hold you accountable to the boundaries and goals you’ve set. 

 

What Working with a DOO Looks Like

You’ll start with strategic mapping. This process includes sharing your vision, priorities, and objectives with your DOO. You’ll set timeframes and Key Performance Indicators for your goals. This process will help you turn your dreams into reality and will give you more white space to dream because your ideas are well-documented and shared with another person.

 

After mapping out your strategy, you’ll stay in touch with your DOO once a week or twice a month. This short meeting shares progress updates.

 

How to Find a DOO

I can place and match you with the right DOO for you when you go here.

 

You can also certify a current team member when you go here.

 

Weekly Ops Activity

Set a goal for your DOO hire date and post your answer inside our private Ops Insiders community.

 

If you haven’t joined us yet, do so here. 

 

Connect with Me:

Website

Private Facebook Community

Facebook Page

Instagram

 

 

Key Quotes from the Episode:

“Directors of operations maximize efficiency, productivity, and profit in your business.”

 “Bottom line: directors of operations cultivate stronger businesses for you.”

 

This episode was originally published on  https://theopsauthority.com/podcast/2

As a small business owner, what do you need to know about business operations? Why are operations important to your business? What is the difference between front-office and back-office activities?

Welcome to the first episode of the Ops Authority Podcast! Throughout this podcast you'll learn about processes, people, systems, projects, and how they pertain to your business.

In this inaugural episode, you'll learn about the history of operations and why you need (or will need!) a director of operations in your business. You'll also get one practical action step you can take today to grow your business.

An Overview of Operations

Operations are the backside of your business and a huge part of our lives.

The History of Operations

Businesses practiced operations starting in 5000 BC. However, how we view operations in modern-day started in the early 1900s when people started looking for efficiency.

Henry Ford created the assembly line in 1915, which cut a 12-hour process down to a 2-hour process.

In WWII, business started looking at data and making forecasts about demand in regard to fabricating weapons.

In the 1960s, analytics and service really took shape, especially in the banking and investment industries.

In the 1980s, digital products emerged so processes and project management became very important.

Operations are Important to Businesses Today

Operations create efficiencies, streamline your work, and allow you to serve clients or sell your product while increasing profit.

Henry Ford believed it was important to take work to the man and not man to the work.

The Difference Between Front-Office and Back-Office Activities Front-office activities are the "CEO Zone:"

1. Strategy + Planning: What plan do you have in place to grow your business?
2. Products + Offers: What will you sell or offer?
3. Visibility: How will you be seen and heard? This aspect is comprised of marketing, messaging, branding, and PR.
4. Selling: If you don't sell, you don't have a business.

Back-office activities are the operations or support side of business, and include:

1. Human Resources, which includes payroll, hiring, culture, compensation.
2. Customer Service, which involves serving and engaging your clients.
3. Technology, meaning the automations and systems you have in place.
4. Marketing, which incorporates the design, copy, and photography of the Visibility piece.
5. Finance + Legal, which includes tax, accounting, financial planning, policies, risk management, agreements, contracts, and compliance.

Large companies have leaders over each of these areas, e.g. CIO, CFO, Chief Risk Management Officer, etc.

As your business grows so do the operations. When you're in a growth phase of your business, you may need a director of operations (DOO). This person is detail-oriented, process-driven, and has the innate ability to take your vision and lead the team.

How I Became Passionate about the DOO Role

I started my career in cardiac care. Not only did I love the totally procedural aspect of healthcare, but I also loved my patients. When my husband and I relocated from Colorado to Texas, I decided to start a new career in a role that incorporated the clinical side of my healthcare background with administration and leadership. I was promoted to chief of staff for the C-Suite team at my company.

However, after a change in leadership, I needed to decide whether to stay with this company and continue to work the long hours or be more present with our two children. I took the offered severance package and spent more time with our kids.

As I dove into the world of online business, I saw small business owners who needed help. And I knew what they needed: operations! Over the past several years, I supported almost 50 businesses.

I wasn't able to keep up with the demand, so I documented my proprietary Strategic Mapping process, and then I created a certification for women who wanted to do what I do.

Weekly Ops Activity

1. Create a list of all of the back-office activities in your business today.
2. Ask yourself who performs those roles.
3. Pick your top three areas where you would like help or support.
4. Go to theopsinsiders.com to share your answers and for a chance to win a prize.

Key Quotes from the Episode:

• "Operations hold people, processes, and the outcomes together."
• "We have to focus on lean structures so we can increase our profit margin."

Other Ways to Connect with Me:

Website

Facebook Page

Instagram

This episode was originally published on https://theopsauthority.com/podcast/1