Can Processes Improve Your Company’s Value?
Ask yourself (or your management team) these questions.
The short answer is yes. Focusing on improving your processes is a great way to refine how you and your team operate for greatest profitability and effectiveness. Most landscaping companies have defined processes for achieving their goals of getting and keeping clients and employees and making money. They may be written, embedded in software or “in someone’s head” and passed down informally. Most of them evolve and improve over time from “that’s how we do it here”. In many cases, you may have evaluated and updated the technology available and updated your processes along with the application. Each process is ultimately “owned” by someone. Ideally, there are goals set, reports (dashboards are often used) showing progress and opportunities identified to make improvements on an ongoing basis.
To assess how your company measures up in terms of process improvements, ask these questions about each of your top 5 most important processes:
- Who owns this process? Who are the parties working on this process?
- How well is it being performed? Are results meeting or exceeding goals?
- When was the last time it was reviewed for improvements?
- How much/many resources are we spending on this process?
And for the portfolio of your most important processes.
- Is an improvement in this process causing a conflict for another process/team?
- Are we spending resources to improve our most valuable processes?
- Do we know how to measure success when we undertake a process of improvement?
Wait, how do you define your top 5 most important processes? Read next week’s blog for the answer.
How often do you check on your company’s processes for profitability? How about your Key Performance Indicators? Are you using them to adjust for better results? Thinking about how your company can maximize its value? We’d be happy to have a confidential complimentary conversation with you about these or any other exit/sales/buying issues.
You can reach me via email: [email protected] or on my cell phone a: 224-688-8838.
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