Create your own awesome maps

Even on the go

with our free apps for iPhone, iPad and Android

Get Started

Already have an account?
Log In

ViaVerio: How to Grow your Small Business by Mind Map: ViaVerio: How to
Grow your Small
Business
5.0 stars - 2 reviews range from 0 to 5

ViaVerio: How to Grow your Small Business

Step 2: Build Business Systems

Eliminate

Bottlenecks, Do your employees have to wait for your approval, Empower them to make decisions, Eliminate you as the bottleneck, Have them CC you on decisions

Reduce, If you can't eliminate all of it, how about just part of it?, "Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away" --Antoine de Saint-Exupery, Examples, Emails, Filter email by "unsubscribe", Meetings, Scrum has 15 minute meetings, Phone Calls, filter calls with Ring Central, Extensions for each person or dept., Assign number to the Caller ID to know what they are wanting before you answer., Screen Calls and answer anytime

Optimize, Might be hard to eliminate if you look to close. Look at the big picture and optimize the whole system., Are you duplicating effort that someone else is doing?

Eliminate Risks, Credit Risk, Visa/Mastercard/Amex are happy to do this for you, Don't be a creditor for your customers

Inventory, Inventory in service business is hours you're paying an employee that they're not working, Scale up with contractors when you need to, and scale down when you don't

Automate

Invoicing & Billing, Freshbooks, Automatic Invoices & Late Payment Reminders, Quickbooks Online, Automatic Sync with Banks, Expensify, No manual entry for expenses

Email, Autoresponders, MailChimp, aWeber, Constant Contact

Social Marketing, HootSuite, Timely

Timely info, Google Alerts, CNN Breaking News, Site is DOWN!!

Outsource

Why, Do stuff you don't have the skills to do..., Examples, Lawyer, Accountant, Everyone is comfortable with this. Many don't think of it as outsourcing., Do more work than you could do by yourself, Additional Resources, Build a "just in time" network, As you hire and fire virtual contractors, keep the good ones on "speed dial" on an as-needed basis., Do work faster than one person could do it, Timezone Arbitrage, 3 shifts - 24 hours a day, Do it cheaper than you could do it in house/in country, Offshoring, Leverage differences in global income levels to get quality workers for a fraction of USA wages

Who, Job Marketplaces, oDesk.com, Elance.com, New node, Agencies, Phone Answering Services, White Label Services

How, Make your operations repeatable and replacable, Define structures / process / proceedures, Document, Wiki, Google Sites, MediaWiki, Screencast, Jing / Camtasia, Video, Flip Video, Smartphone, cheap camcorder, Your role needs to be especially replacable, Create teams that work together and manage themselves., Set communication standards, Set role expectations and decision making levels., Who to report to, and when., How do I keep track of people on the other side of the world?, Video, Skype, Video, Screensharing, Chat, Video Status Reports, Jing, Project Management, Basecamp, Scrumdo, oDesk Time Tracker, Screenshot log every 4-5 minutes, ensures you get what you pay for.

Excuses, "I don't have the money to hire people, I can't afford to outsource what I do", Understandable concern, but not necessarily true., Eliminating or automating tasks would SAVE money., Hiring "just in time" contractors would save money by only using them when needed., Hiring contractors SAVES TIME and MONEY (no payroll, employment docs, insurance, computers, space, etc.), Take oDesk for example, pay with credit card, Hire and fire at will, EXTREMELY afforable rates, No 1099 to deal with., No overhead to pay, No paperwork or payroll work., Less bookkeeping cost., "What is your time worth?", "Only I can do it", You might do it better, but if you kept that mindset, you haven't built a business...you built yourself a job., Take it slowly, but plan to eventually take yourself out of the picture. Trust me, there will always be more for you to do., "The graveyards are full of indispensable men." - General Charles De Gaulle

Challenges, Communication, Culture, Timezones

Action, Hire a Virtual Assistant

Step 1 - Fire Yourself

Why?

What's this mean?, Your job as a business owner, Build business systems to run themselves, So that you can go build more business, AUTOMATE YOUR BUSINESS!!, This is REAL growth. Growth that turns into true value and PROFIT.

Get your time back, If you're too busy to work ON your business, you'll never grow

Stop working IN the business, and start working ON the business., Entreprenuer vs. Self Employed, Self Employed = a job

Start with Furlough Fridays

Take one day where you don't work IN the business

Spend that day working ON the business

Force yourself

Things will break and be difficult at first, You're learning the parts of the business where you're a bottleneck

You're not the only one that can do the work

List all your tasks and responabilities

Chose one to eliminate, automate, and/or outsource

1) Can I Eliminate this task completely or partially?

2) Is there a software program or service that automates the process?

3) Can another company or contractor do this for me?

Congratulations, you just built your first business system.

Step 3 - Grow the business

If I don't do it, WHAT THEN do I do?

BUILD YOUR BUSINESS of course!!!, Design more business systems., Add more services, Build more sales channels, then start automating those...and repeat., GROWTH...ah how sweet it is.

Add new services to offer

SEO, Website Optimization services, Analytics, etc.

Open new sales channels

Partner with synergistic companies, Partner with ecommerce platforms you know well.

Create new Marketing Campaigns

Guerrilla Marketing ideas

Callback to the previous Marketing Talk

Intro

The Entrepreneurial DILEMA

How do you find time to grow your business when you spend all your time working in the business

How many people in the audience are busy?

Why your business can't grow

Growth = more business

More business = more projects

More projects = more of your time

All your time on projects... who is going to build the business? = NO GROWTH

Work on Automating Your Business

This will enable you to grow

Matt & Brandon

Host of AMSB, Teach Entrepreneurs tools and techniques for making their business more efficient

Step 4 - Repeat

Think Monopoly...more properties and hotels, more income you make. More income let's you build more hotels...growing your empire. [use cycle graphic]