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Using Small Business Processes to Find Money & Build Sustainability in a Depressed Economy
HIDDEN IN PLAIN SIGHT
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
DEBUNKING
THE MYTH
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
ARE YOU READY
TO BE EXPOSED?
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
BUSINESS PROCESSEVOLUTION
The IndustrialRevolution
Widget Production ● Factories ● Manufacturing Process
© Copyright 2010 - 2011. Alicia Butler Pier...
The FranchiseExpansion
Widget Customization ● Retail ● Manual
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Re...
Mergers& Acquisitions
Widget-supporting Services ● Companywide Best Practices ● Metrics
© Copyright 2010 - 2011. Alicia Bu...
Rise of the Small Business Enterprise
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc....
THE DEVIL IS
IN THE DETAILS
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystem...
THE TRUTHSHALL
SET YOU FREE
1. Evaluate. Looking in the mirror. Growth = licensing IP.
2. Identify. ~30 total processes. Service Delivery top priority...
© Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems....
© Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems....
© Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems....
THANK YOU
This presentation was originally shown in 2010 at the Fast Trac Growth Venture
class through Georgia State Unive...
IMAGE CREDITS
Waldo images: http://findwaldo.com/
Slide 3: Money: http://30goalsby30.wordpress.com/2011/08/07/18-save-a-pr...
Hidden in Plain Sight - How Entrepreneurs can Find Waldo through Small Business Processes
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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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Hidden in Plain Sight - How Entrepreneurs can Find Waldo through Small Business Processes

  1. 1. Using Small Business Processes to Find Money & Build Sustainability in a Depressed Economy HIDDEN IN PLAIN SIGHT
  2. 2. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Purpose To demonstrate how and why business processes are vital to scalable, sustainable growth – even for small businesses!
  3. 3. DEBUNKING THE MYTH
  4. 4. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc What It Is & What It Is Not Sequential steps required to produce a desired result. Exposes inefficiencies Reveals bottlenecks Represented in many ways Performance Evaluation Tool Training Tool Creates Transparency Can be time-intensive Can be expensive depending on the level of complexity. Is a sign of business maturity. Should be task dependent. Is NOT a system Is NOT just for Fortune 500 Is NOT an employee manual w/policies Is NOT a waste of time and money Is NOT People Replacement Tool Will NOT be done overnight Is NOT people dependent
  5. 5. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Anatomy of a Business Process Cookbook = Operations Manual Instructions = Process Picture = Desired Output Ingredients = Tools
  6. 6. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc The Challenge What Does Scalability & Sustainability Look Like? 1. Know What Needs to Be Done. 2. Know Who is Supposed to Do What. 3. Know How to Do What Needs to Be Done. 4. Know What the Contingency Plan Is (Just in Case). 5. Ability to Profitably Replicate Your Model. Main Office Office 1 Office 2 Office 3 Office 4 Office 5 Office 6
  7. 7. ARE YOU READY TO BE EXPOSED?
  8. 8. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc What’s YourCompany’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?”
  9. 9. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc The EquilibriaStory: FindingWaldo =  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.
  10. 10. BUSINESS PROCESSEVOLUTION
  11. 11. The IndustrialRevolution Widget Production ● Factories ● Manufacturing Process © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
  12. 12. The FranchiseExpansion Widget Customization ● Retail ● Manual © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
  13. 13. Mergers& Acquisitions Widget-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. Rise of the Small Business Enterprise © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Small Business is Attractive  Flexibility  Technology Access  Viable Suppliers  Better Customer Service However… Small Businesses need to prove scalability & sustainability. Processes are a way to do that.
  15. 15. THE DEVIL IS IN THE DETAILS
  16. 16. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Warning!– The Rabbit Hole Establish Boundaries Quickly
  17. 17. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Evaluate Identify Assess Document Measure Store Improve
  18. 18. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Evaluate Identify Assess Document Measure Store Improve Why Does YourCompany Need Documented Processes?
  19. 19. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Evaluate Identify Assess Document Measure Store Improve How Will ProcessesHelp YourCompany Grow? PROFIT & LOSS STATEMENT ↑ Revenue ↓ Expenses = ↑ Profitability BALANCE SHEET ↑ Intangible Assets ↓ Liabilities = ↑ Equity CASH FLOW STMT ↑ Net Operation ↑ Net Investing ↑ Net Financing = ↑ Net Cash Flow
  20. 20. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Evaluate Identify Assess Document Measure Store Improve ACCOUNTING DEPARTMENT  Submit invoice to client  Deposit checks  Generate receipt in QuickBooks  File receipts & bank statements  File merchant account information  File bank account information  Enter bills into QuickBooks  Pay bills  Sign checks Brainstorm List of Tasks for Company START Group Like Tasks into Departments Group Like Departmental Tasks into Processes Accounts Receivable Process Records Management Process Accounts Payable Process
  21. 21. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Evaluate Identify Assess Document Measure Store Improve  QuickBooks User Manual  Checks  QuickBooks Software  Invoice Template  Monthly Deposit Report  Password List Take Inventory of Existing Tools Match Existing Tools to Identified Processes Accounts Receivable Process Accounts Payable Process Records Management Process
  22. 22. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Evaluate Identify Assess Document Measure Store Improve Create List of Processes per Department Prioritize Processes Based on Needs Assign to an Administrator Department Priority Processes Administrator Accounting 1 Accounts Receivable CFO 2 Accounts Payable Bookkeeper 3 Records Management Bookkeeper
  23. 23. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Evaluate Identify Assess Document Measure Store Improve Develop a Style Guide for Each Type of Tool Choose Optimal Documentation Tool  Capture screenshots and voice recording - Camtasia - AVS - Zamzar Web Apps  Flowcharting Software - MS Visio - Orkut - Free Web Apps Software Be mindful of copyright Infringement. The Process ShopTM MS Office Online - Checklists - Databases • SlideShare Presentations Templates  Digital Camera to Record.  Social Media TV Channel - Create Custom Channel - Subscribe to others. Video
  24. 24. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Evaluate Identify Assess Document Measure Store Improve Department Priority Processes KPI UOM Administrator Accounting 1 Accounts Receivable on-time collection collected/ owe ratio, % CFO 2 Accounts Payable late fees <amount, $ Bookkeeper 3 Records Management internal & external audits deficiencies, min. % Bookkeeper Determine How to Measure Process Performance Link to Performance Evaluation Conduct a Trial Run to Test Feasibility
  25. 25. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Evaluate Identify Assess Document Measure Store Improve Key Components: - Table of contents - Flowchart of Process - Procedural Format of Process - Accompanying Tools Choose Optimal Storage Solution ELECTRONIC/NETWORKSTORAGE PAPER /HARDCOPY STORAGE THE “CLOUD”&SOCIAL MEDIA  SlideShare  Wiggio, BaseCamp  Google Docs, DropBox, Box.net  MS Sharepoint  Wikis  YouTube
  26. 26. © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Evaluate Identify Assess Document Measure Store Improve Improve Processes Six SigmaLean Sigma Process Automation END
  27. 27. THE TRUTHSHALL SET YOU FREE
  28. 28. 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 © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc The Equilibria Story: HowWe Found Waldo Evaluate Identify Assess Document Measure Store Improve
  29. 29. © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc 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.
  30. 30. © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc 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
  31. 31. © Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc Download a complementary Accounts Receivable Process & Flowchart from. The Process ShopTM. Click here. 1 Request a complementary 30 minute phone consultation & learn 3 things you can do to immediately improve back office operational efficiency. 2 Recommend, Like or Share The Process ShopTM with your social networks and receive an additional 10% off any product or service. 3
  32. 32. 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
  33. 33. 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%2FVendingWholesaleTeam%2Fops%2FStrategic%20Initiatives%2FIntelligent%20Vendin g%20System%2FProcess%20Documentation%2FIVS%20Fulfillment%20Tasks Slide 5: Recipe Card: http://www.razzledazzlerecipes.com/artistcafe/recipecards/brown-recipe-card.htm Slide 13: http://www.lightinghomes.net/gallery/company.html 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 © Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved. Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc

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