Section 1: Why Create Standard Operating Procedures What Is a Standard Operating Procedure? A Standard Operating Procedure is a set of instructions used to train and onboard your employees to complete a task. Standard Operating Procedures are the foundation of building a business that can thrive without you which gives you the freedom to work…

Businesses strive to achieve customer or client loyalty in numerous ways. This might be accomplished through: BrandingExceptional customer serviceHigh-quality products or servicesCompetitive pricingLoyalty programsSpecial salesEfficient operationsUser-friendly websitesStress-free access when trying to reach the businessFlexible payment plansCustomer feedback and suggestionsHonestyHassle-free problem solvingInquiries handled promptlyKnowledgeable and caring employeesPersonalized serviceBeing reliableFlexible and adaptableKnowing and understanding customer needsHaving a…

Businesses are always trying to figure out exactly how to price their products or services. Many factors are taken into consideration…supply and demand, fixed costs, competition, quality, projected gross profit as well as a unique value proposition. In addition to these factors, businesses sell benefits and solutions to customer problems. It then places a value…

Adding some recurring revenue to your business is arguably the fastest way to grow your company’s value. Recurring revenue is so crucial that it is one of the most heavily weighted drivers in our algorithm over at The Value Builder System. Investors pay a premium for certainty, which is one reason businesses with recurring revenue are so much…

If we’ve learned anything from the last 18 months, it’s that the world is much more uncertain than we could ever have imagined. The COVID-19 pandemic has forced businesses around the world to reimagine what their offering looks like in these crazy times, with many of them scrambling to pivot their organization in order to…

Why not? There is no reason to reinvent the wheel when the wheel has already been invented and works well. With the multitude of successful businesses located in any city or globally on the Internet, small businesses and SMEs have almost unlimited mentoring without even asking.  Successful businesses, CEOs, and owners frequently possess the same…

The benefits of journaling daily are well documented – journaling reduces stress, increases happiness, helps the journal writer connect to their emotions, etc. With that in mind, I decided to journal. I’ve tried every journal out there – The Gratitude Journal, The 5-Second Journal, The Freedom Journal – none of them worked for me. I’m…

When we think about the traditional conception of what business strategy is, we often think of it as a noun. It’s a plan that we create, that lives in some formal document, and is supposed to act as the codification of the direction in which the company is planning to go. There’s this idea that…

Small business or large, rural area or big city, retail or service…one element is so often missing…effective marketing! There can never be enough written or said about marketing and, especially, effective marketing. Businesses cannot grow without effective marketing, yet this is frequently missing for small businesses. Effort might be put into operations but without effective…

Owning and operating a small business is tough. Everyone knows that especially owners and managers. A business might be in the startup phase or the growth stage. Regardless of where a business is in its life cycle, the principals involved in a small business spend a significant amount of their time managing daily operations from…

12 Steps to Lead Your Team Back on Track It is inevitable. Every organization is going to face a significant crisis once or twice a year and a flurry of minor obstacles. This is why having a crisis management strategy is crucial. A major executive gets hired away by a competitor. Your supply costs skyrocket….

A business can have either (1) employees who are committed to help the business achieve its goals or (2) employees who have no real commitment to their employer and see their job as just a means to an end…a paycheck. Engagement You’ve probably heard the following story or a variation of it. A man came…