Hidden in Plain Sight - How Entrepreneurs can Find Waldo through Small Business Processes

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This presentation is designed to show how and why business processes are vital to the sustainability, scalability and success of growing small businesses.

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  • We will use our story to tell you how we found Waldo.
  • Recipe card. SHOW HANDOUT.Specific instructions.How long to chill and/or bake.How to mix ingredients.Picture for comparisonList of tools needed.
  • In order to compete and seem viable to do business with, you have to prove sustainability and scalability. What is your proven formula? Processes are a way to do that.
  • I will use my own story to build the case for documenting a business process. First, we will go through the background of processes, define what they are and what they are not, look at its anatomy and then go through the methodology for documenting them.
  • I will use my own story to build the case for documenting a business process. First, we will go through the background of processes, define what they are and what they are not, look at its anatomy and then go through the methodology for documenting them.
  • Companies like Ford, Monsanto and ExxonMobil come to mind. Production on a manufacturer level.
  • Companies like Starbucks, McDonald’s and Baskin Robbins come to mind. We are still talking about products. Direct interaction with the customer. Still a B2C environment. The idea of “cloning” the system.
  • Vendors, suppliers and consultants are key in companies becoming bigger through mergers and acquisitions. As services became more important to support these mammoth organizations, so also did the need for business processes.
  • Vendors, suppliers and consultants are key in companies becoming bigger through mergers and acquisitions. Business processes level the playing field.They make service-based businesses tangible with a “product” that proves a revenue-generation model and the operational activity to support it.Small size makes us viable suppliers for outsourcing as these big companies optimize.
  • Take advantage of downtime. It is the perfect time to work on processes.
  • Shown linearly, but it is actual a continuous cycle.
  • External hard drives, remote data backup, Sharepoint network…. What you choose depends on the amount of collaboration you are looking for. Storage vs. collaboration and constant access. Always establish privacy restrictions.
  • Mention the sampling of the Process Shop. Free business templates.
  • We also conduct $500.00 business infrastructure diagnostics where we provide a holistic look at your back office operations. - If
  • We also conduct $500.00 business infrastructure diagnostics where we provide a holistic look at your back office operations. - If
  • Hidden in Plain Sight - How Entrepreneurs can Find Waldo through Small Business Processes

    1. 1. HIDDEN IN PLAIN SIGHTUsing Small Business Processes to Find Money & Build Sustainability in a Depressed Economy
    2. 2. PurposeTo demonstrate how and why business processes are vital to scalable, sustainable growth – even for small businesses! © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    3. 3. DEBUNKING THE MYTH
    4. 4. What It Is & What It Is Not → Sequential steps required to→ Is NOT a system produce a desired result.→ Is NOT just for Fortune 500 → Exposes inefficiencies→ Is NOT an employee manual → Reveals bottlenecks w/policies → Represented in many ways→ Is NOT a waste of time and → Performance Evaluation Tool money → Training Tool→ Is NOT People Replacement → Creates Transparency Tool → Can be time-intensive→ Will NOT be done overnight → Can be expensive depending on→ Is NOT people dependent the level of complexity. → Is a sign of business maturity. → Should be task dependent. © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    5. 5. Anatomy of a Business Process Ingredients = Tools Instructions = Process Picture = Desired Output Cookbook = Operations Manual © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved.Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    6. 6. The ChallengeWhat Does Scalability & Sustainability Look Like? Office 1 1. Know What Needs to Be Done. Office Office 2. Know Who is Supposed to Do 7 2 What. Main 3. Know How to Do What Needs toOffice Office Office Be Done. 6 3 4. Know What the Contingency Plan Is (Just in Case). Office Office 5 4 5. Ability to Profitably Replicate Your Model. © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    7. 7. ARE YOU READY TO BE EXPOSED?
    8. 8. What’s Your Company’s “Waldo?” =? • In this presentation, “Waldo” represents the source of a challenge that you know is there, but you can’t quite find it or figure it out. • You can use a business process to find that “Waldo.” • The question to ask yourself is “Are You Ready to be Exposed?” © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    9. 9. The Equilibria Story: Finding Waldo = • Getting clients, but not retaining money. • Taking too long to deliver services. • Too many services. • We knew Waldo was there, but we could not find him. • Were we willing to face the truth? • We needed to practice what we preached. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    10. 10. BUSINESS PROCESS EVOLUTION
    11. 11. Business Process Evolution The Industrial Revolutionwidget production  factories  manufacturing process © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    12. 12. Business Process Evolution Franchise Expansion widget customization  retail  manualshttp://www.stopcorporateabuse.org/targeting-low-income-communities © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    13. 13. Business Process Evolution Mergers & Acquisitionswidget-supporting services  companywide best practices  metrics © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    14. 14. Business Process Revolution Rise of the Small Business EnterpriseSmall Business is Attractive However…• Flexibility Small Businesses need• Technology Access to prove scalability &• Viable Suppliers sustainability.• Better Customer Service Processes are a way to do that. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    15. 15. THE DEVIL IS IN THE DETAILS
    16. 16. Warning! – The Rabbit HoleEstablish boundaries quickly. © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    17. 17. 7 Step Method Business Processes provide direction & aAssessEvaluate Identify Document Measure Store Improve platform for consistent work output © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    18. 18. Evaluate Identify Assess Document Measure Store Improve Why Does Your Company Need Documented Processes? © Copyright 2010-2011 Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    19. 19. Evaluate Identify Assess Document Measure Store ImproveHow Will Processes Help Your Company Grow? Profit & Loss Balance Sheet Statement Cash Flow Stmt ↑ Intangible ↑ Net Operation ↑ Revenue Assets ↑ Net Investing ↓ Expenses ↓ Liabilities ↑ Net Financing = ↑ Profitability = ↑ Net Cash Flow = ↑ Equity © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    20. 20. Evaluate Identify Assess Document Measure Store Improve START ACCOUNTING DEPARTMENT Brainstorm List Accounts  Submit invoice to client of Tasks for  Deposit checks Receivable Company  Generate receipt in QuickBooks Process  File receipts & bank statements Records  File merchant account information Management Group Like  File bank account information Process Tasks into  Enter bills into QuickBooks Accounts  Pay bills Departments  Sign checks Payable Process Group Like Departmental Tasks into Processes © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    21. 21. Evaluate Identify Assess Document Measure Store Improve Accounts Receivable Accounts Payable Take Inventory of Process Process Existing Tools Records Management Process Match Existing Tools to Identified  QuickBooks User Manual  Checks Processes  QuickBooks Software  Invoice Template  Monthly Deposit Report  Password List © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    22. 22. Evaluate Identify Assess Document Measure Store Improve Create List of Prioritize Assign to an Processes per Processes Based Administrator Department on NeedsDepartment Priority Processes Administrator 1 Accounts CFO Receivable 2 Accounts BookkeeperAccounting Payable 3 Records Bookkeeper Management © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    23. 23. Evaluate Identify Assess Document Measure Store Improve Web Apps Capture screenshots and voice recording Choose Optimal - Camtasia Documentation - AVS Software Tool - Zamzar  Flowcharting Software - MS Visio - Orkut Develop a StyleTemplates - Free Web Apps Guide for EachThe Process ShopTMMS Office Online Type of Tool - Checklists Video - Databases  Digital Camera to Record.• SlideShare Presentations  Social Media TV Channel - Create Custom Channel Be mindful of copyright - Subscribe to others. Infringement. © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    24. 24. Evaluate Identify Assess Document Measure Store Improve Conduct a Trial Determine How to Link to Run to Test Measure Process Performance Feasibility Performance EvaluationDepartment Priority Processes KPI UOM Administrator 1 Accounts on-time collected/ CFO Receivable collection owe ratio, % 2 Accounts late fees <amount, $ BookkeeperAccounting Payable 3 Records internal & deficiencies, Bookkeeper Management external min. % audits © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    25. 25. Evaluate Identify Assess Document Measure Store ImproveELECTRONIC/NETWORK STORAGE PAPER/HARDCOPY STORAGE Choose Optimal Storage Solution THE “CLOUD” & SOCIAL MEDIA SlideShare  Wiggio, BaseCamp  Google Docs, DropBox, Box.net Key Components: MS Sharepoint -Table of contents  Wikis - Flowchart of Process  YouTube - Procedural Format of Process - Accompanying Tools © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    26. 26. Evaluate Identify Assess Document Measure Store Improve Process Improve Processes Automation Lean Sigma Six Sigma END © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    27. 27. THE TRUTH SHALL SET YOU FREE
    28. 28. © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved.Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    29. 29. The Equilibria Story: How We Found WaldoEvaluate Identify Assess Document Measure Store Improve 1. Evaluate. Looking in the mirror. Growth = licensing IP. 2. Identify. ~30 total processes. Service Delivery top priority. 3. Assess. Leverage existing MS Office applications for automation. 4. Document. Converted sequential steps to software. 5. Measure. Mapped & timed process to expose bottlenecks 6. Store. Combo of remote data backup, cloud & external hard drive. 7. Improve. Changed target client & virtual service delivery. © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    30. 30. Recommendations 1. Ask your clients/customers and employees for feedback. LISTEN. 2. Seek methodical, detail-oriented thinkers to document processes. 3. Request original copies of processes from third-party consultants 4. Ask someone outside of a particular dept. to review a process for validity and accuracy 5. Consider the sensitive nature of the information recorded 6.Remember, just because you write the process does not mean that everyone will understand it © Copyright 2010-2011 Alicia Butler Pierre. All Rights Reserved.Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    31. 31. Recap Determine the purpose behind your processes Begin with the end in mind Take an inventory of existing tools Integrate existing tools into processes Document, secure and maintain JUST GET STARTED! Templates = head start. © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved.Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    32. 32. 1. Download a 2. Request a 3. Recommend, Like or complementary 30 Share The Process complementary minute phone Accounts Receivable consultation & ShopTM with your Process & Flowchart learn 3 things you social networks and can do to receive an from. The Process immediately ShopTM. Click here. additional 10% off improve back office operational any product or efficiency. service. © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    33. 33. THANK YOU This presentation was originally shown in 2010 at the Fast Trac Growth Venture class through Georgia State University’s Small Business Development Center . Thank you to Tim Fulton for facilitating the leading and follow up discussion to the presentation and to Georgia Power for providing the presentation facilities. And most importantly, thank you to all the entrepreneurs who build the foundation of the American economy. Note: this presentation is changed and re-formatted with each class so feel free to bookmark this page and check again in a few months for possible updates. © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved.Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
    34. 34. Image Credits• Waldo images: http://findwaldo.com/• Slide 3: money: http://30goalsby30.wordpress.com/2011/08/07/18-save-a-pre-determined-amount-of-money/• Slide 4: Scroll https://teams.cokecce.com/sites/VendingWholesaleTeam/ops/Strategic%20Initiatives/Forms/AllItems.aspx?RootFolder=%2Fsites%2FV endingWholesaleTeam%2Fops%2FStrategic%20Initiatives%2FIntelligent%20Vending%20System%2FProcess%20Documentation%2FIVS %20Fulfillment%20Tasks• Slide 5: recipe card: http://www.razzledazzlerecipes.com/artistcafe/recipecards/brown-recipe-card.htm• Slide 14: Child entrepreneur: http://www.cosmoloan.com/investments/10-inspirational-child-entrepreneurs.html• Slide 15: Alice in Wonderland: http://tuningintoscifitv.com/wp-content/uploads/2009/11/Alice_04.JPG

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