Fractional Business Companion

Operating A Business: What Did I Come In Here To Do Again?

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Have you ever walked into a room and forgotten what you were there to do? All the time right? This is exactly what owning/operating a business is like. There can be so many moving parts, things to memorize, things to work on, and gaols to a business especially if you are a team; that you start to lose track of “what matters.” You forget a process, you forgot you needed to check that email and before you know it, you forgot to pick up what you need for dinner that night.

Everything starts with how you operate on a day-to-day basis in your business. How confident are you in your business operations? Do you feel like you understand them inside and out, or do you sometimes feel lost when trying to figure out what needs to be done? It’s okay if you don’t have all the answers – no one does! Owning a business is a learning process, including learning about your operations. That is why it can be helpful to reach out for help in understanding and developing your operations. As your business companion, we will discuss how you can start knowing your own business which can then help you not forget what you came here to do.

Creating A Business Macro & Micro Map

One way to understand your business operations is by creating a business map. This can be a macro map or a micro map, depending on how detailed you want. A macro map is a high-level overview of your business operations, while a micro map is a more in-depth look at specific operations. Creating a business map can help you see the big picture of your processes and how they all fit together. It can also help you identify areas that need improvement or additional attention.

If you’re unsure where to start, try creating a high-level overview of your business operations first. I use the free tool ClickUp to create macro/micro maps for myself and other clients. They offer a whiteboard feature that can be collaborative.

This can be a useful starting point for understanding the different moving parts of your business. Once you have a good understanding of the overall operations, you can start drilling down into specific areas.

What Can Go In a Macro Map?

When creating a macro map, here are some starting points you can add to them:

  1. Roles of your team (or the hats you wear as a solopreneur)
  2. Cost of your Roles and Operations
  3. The pipeline of your operations from the point of sale to deliverable.

Roles of Your Team

When creating a business map, one of the most important things to include is the roles of your team. This includes everyone who helps make your business run – from those who handle sales and marketing to those who work in operations and accounting. By understanding each team member’s different roles and responsibilities, you can create a more streamlined and efficient base of operations.

What Are the Typical Business Roles?

There are many different types of business roles, but some of the most common ones are:

  • CEO/Owner: The person in charge of overall operations and strategy.
  • Marketing Manager: Oversees all marketing activities and initiatives.
  • Sales Manager: Manages all sales operations and staff.
  • Operations Manager: Oversees all operational activities and processes.
  • Accounts Manager: Manages all financial and accounting operations.

Determining Your Salaries, Expenses, and Hourly Rates

When it comes to operations, one of the most important things to know is how much everything costs. This includes your salaries, expenses, and hourly rates. By understanding the cost of each operation, you can make more informed decisions about how to run your business. The best way to go about this is to research how much the average person in that role makes or typically how much that operational piece should cost. You can do a few Google searches or use a website like Glass Door.

The Pipeline of your Business

It’s also important to understand the pipeline of your operations. Most of the time we know this in our heads or as a collective team, but often not they are not written down somewhere. You would be surprised what answers you find when simply writing them down. By understanding the different stages of the pipeline, you can identify areas where improvements or changes need to be made.

Some of the most common ones are:

  • Marketing Pipeline: The process from generating leads to converting them into customers.
  • Sales Pipeline: The process from identifying potential customers to closing the sale.
  • Operations Pipeline: The process from receiving an order to delivering the product/service.
  • Accounting Pipeline: The process from recording financial transactions to issuing invoices/billing customers.

If you aren’t sure of these pipelines then it’s best to do a business process Audit.

Conducting A Business Process Audit

Another way to get to know your business operations is by conducting a business process audit. This is an in-depth look at how your business actually runs on a day-to-day basis. It involves observing and documenting every step of your operations, from start to finish. This can be a daunting task, and sometimes hard to do alone, and helps to have a business companion or hired consultant.

If this is something you need help with, reach out! I would be more than happy to help you get a better understanding of your operations and how to streamline them for maximum efficiency.

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