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Growing Your Company . . . Delegate or Perish!. About SCORE. Successful and experienced business owners and executives acting as volunteers Free ongoing mentoring: One-on-one E-mail Signup on our website – Mentoring Tab Seminars, workshops and Meetup Group

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slide1

Growing Your Company . . .

Delegate or Perish!

about score
About SCORE
  • Successful and experienced business owners and executives acting as volunteers
  • Free ongoing mentoring:
      • One-on-one
      • E-mail
      • Signup on our website – Mentoring Tab
  • Seminars, workshops and Meetup Group
  • Resources for small business: manasota.score.org

Douglas S. Cavanaugh

introductions your expectations
Introductions . . . Your Expectations?
  • Introduce yourself
  • What business are you in?
  • What are your expectations for the meeting today?
  • Record . . .

End of the meeting feedback:

Expectation

Gaps

Outcome

slide4

Key Business Processes

Customers – Impacted by All Functions in Your Business

What should you delegate?

How can you measure performance?

Marketing

Sales

Customer Service

Service Delivery

Purchasing / Manufacturing

Distribution

Finance

Business Owners / Management - responsible for Business Performance

delegate to grow your business
Delegate to Grow Your Business

Benefits of Delegation:

  • Creates culture of accountability for employees
  • Employees gain skills/confidence
  • Employee satisfaction increases
  • Business builds employee strength to handle key tasks
  • Reduce employee turnover / related costs
  • Free owner’s time to work ON the business
strategic and operational tasks
Strategic and Operational Tasks
  • How is your time currently allocated?
  • Do you spend all your time working on Operational Tasks IN the business?
  • Do you spend any time working ON the business doing Strategic Activities?
  • Should you delegate and / or organize YOUR time better?
strategic vs operational tasks

Large Business

mostly separated

Small Business

overlap / shared

Strategic vs. Operational Tasks

Cruise Line Management vs. Ship Captain Analogy

Strategic

Operational

Not performed on ship

Performed on ship

Advertising

Bookings

Competition

Crew Hiring

Customs

Destinations

Entertainment Booking

Menu Planning

Port of Calls

Safety

Ship Registrations

Training

Accommodations

Baggage Handling

Crew Evaluations

Dining Room Service

Evacuation

Meal Preparation

Navigation

Room Service

Passenger Safety

Passenger Satisfaction

Refueling

Weather Changes

strategic on the business examples
Strategic (ON the business) Examples
  • Conceptualize: (Vision) Product & Service, Customers, Costs, etc.
  • Organize: (Structure) Who will do what and when?
  • Implement: (Process) Space, Hiring, Professional Support
  • Motivate: (Commitments) Clear statements of what needs to be done
  • Analyze:(Information) Market Opportunities
  • Adapt: (Changes For Survival) Anticipate continual change
operational in the business examples
Operational (IN the business) Examples

Customer Relationships Products, Services and Support

Time Management Running Business and Resolving Problems

Price and Cost Controls Competition & Supplier / Vendors

Employee Relations Satisfaction & Turnover

Record Keeping Input / Reporting for Operational Measurements

better balance exercise 1
Better Balance- Exercise 1

List 5 Strategic things to want to do more and how you will accomplish the change

Prioritize 1(now) – 5 (within 6 months)

List 5 Operational things to want to do less. . .

Prioritize 1(now) – 5 (within 6 months)

10 minutes – then open discussion

better balance exercise 11
Better Balance – Exercise 1

Work for 10 minutes

effective delegation and time management
Effective Delegation and Time Management

Time Management Tips

Find what works for you

  • Choose organization/scheduling system
  • Use tech tools
  • Group tasks
  • Focus on most profitable tasks
  • Eliminate unnecessary meetings and processes
  • Get rest and relaxation
  • Delegate

John Christakos, Maurice Blanks & Charlie Lazor

employee training and development
Employee Training and Development
  • Skills Inventory
  • What skills do your employees have?
  • What skills do they need for their
  • current jobs?
  • What skills do they need in order to grow with your company?
  • What are they interested in learning?
  • Exercise 1 – Improve your employee’s skills

Theresa Alfaro Daytner

employee training and development1
Employee Training and Development

Cross-Training Your StaffBenefits:

  • No outside assistance needed
  • Do more with less
  • Enhance employee skills
  • Uninterrupted workflow
  • Employees share knowledge

Methods:

  • Rotation
  • Job shadowing
  • Group training sessions
employee training and development2
Employee Training and Development

Outside Employee Enrichment ProgramsWhere to get mentoring, training and education?

  • Online
  • Industry/professional associations
  • Colleges and universities
  • Adult education/continuing education
  • Training companies/consultants
  • Business coaches
  • State Economic Development Department
  • Chamber of Commerce
  • American Express OPEN Forum
attaining peak performance
Attaining Peak Performance

Creating a Culture of Accountability

attaining peak performance1
Attaining Peak Performance
  • Employee Performance Measurement
  • No surprises – address issues when they occur
  • Regular appraisals (quarterly work best, but at least annually)
  • Objective performance standards
  • Processes and results
  • Involve managers
  • Employee feedback
  • 360-degree feedback

John Blancher

key performance indicators kpis
Key Performance Indicators (KPIs)
  • KPIs should be used to show the performance of activities that generate value
  • Chose which KPIs you want to measure and follow carefully
  • KPIs can be very useful, but too many can be distracting
  • Implement simple tracking methods using spreadsheets
  • Setup trend graphs or tables so you can track progress and see changes in performance
  • Later, you may find software packages which provide KPIs and built-in dashboards to display the data
kpi cautions
KPI Cautions
  • KPIs are great for measuring key activities and performance
  • Need to understand the source of the data and what the KPI is really telling you
  • KPIs are a valuable resource, but they don’t replace the need to understand how to read and use your company’s financial statements
measuring operational activities
Measuring Operational Activities

If it can be measured, it can be managed

Measure those activities with the greatest impact - for example:

% of deliveries on time

% hours that are billable hours

% Product meeting quality specs

Manufacturing cycle time

% Travel time between service calls

% Raw material orders received on time

% Scrap / defects

Overdue receivables

non financial key performance indicators exercise 2
Non-Financial Key Performance Indicators – Exercise 2

Using the Worksheet in your folder, fill in the existing NON-FINANCIAL measurements (KPIs) that you use for your business

What value does each brings to you?

Think about areas that you think need improvement, but perhaps you don’t have good methods to measure performance.

List new KPIs, based on the workshop discussion, that would be valuable to you to improve operations. How will you measure it?

non financial key performance indicators exercise 21
Non Financial Key Performance Indicators – Exercise 2

10 minutes to work and then discussion

assessing your business
Assessing Your Business

The SCORE Business Needs Assessment, it is in your packet. Download at: http://tinyurl.com/8j7fkgw

It will help you assess the current state of your business in 5 key areas:

  • Management
  • Marketing
  • Sales
  • Finance
  • Operations

Decide what additional sessions to attend

Develop a customized business improvement plan

slide24

Help Us, Help You

Please fill out the evaluation form

Your feedback is important to help us improve our programs!

references
References

Lean Manufacturing / Lean in the Office (initial reference)

http://en.wikipedia.org/wiki/Lean_manufacturing

The Superfactory Project

http://www.superfactory.com/index.html (free and $$ info)

Improving Performance book by Rummler and Brache

The Executive Guide to Operational Planning book by Morrisey / Below / Acomb

outside enrichment programs
Outside Enrichment Programs

Where to get external mentoring, training and education?

  • Online
  • Vendors
  • Industry/professional associations
  • Colleges and universities
  • Adult education/continuing education
  • Training companies/consultants
  • Business coaches
  • State Economic Development Department
  • Chamber of Commerce
  • American Express OPEN Forum
  • SCORE.org