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Traction Inc.

01 May Why Less Can Be More When It Comes To Business Structure

Posted at 07:30:00 by Chris Hallberg

business structure

Some of the best business advice I can give is when putting together your business structure, it’s important to understand the steps of execution to create a flawless plan. There are many steps involved, and when done correctly, you will have created a lasting foundation for your entity. When starting out, it’s best to condense the components of your business to the fundamental parts to have a better understanding of what you want, need, and where you plan to go. Here are a few other key steps:

Company Vision

Your vision has to be clear and focused. Define your goals and limit the vision to what you care about the most. This helps establish and refine the brand to point you in the right direction.

Metrics and Key Performance Indicators

Document and track your processes to evaluate the numbers that will give you a complete assessment of your business and where you will have to make improvements. Know and understand what you do and why you are different from your competitors.

People

Be careful when hiring employees. It’s important to hire the people that believe in, and are willing to help achieve the company vision. Be sure these people possess the skills you need or can be trained. Employees who are in positions that are well suited for their KSAs will help your company run efficiently and speed up productivity. Employees also work better when they know they have a strong support system in place. Support your employees and they will support you.

Problem-Solving

When problems arise, make sure to address the root of the problem, and move forward from there. Symptoms that result from the problem will be alleviated once the root has been addressed and eliminated.

Processes

When determining your processes within the organization, stay focused. It’s best to include only those vital steps that produce the results you desire. Keeping things simple will help the team stay focused on what’s important, which ties back into the company’s overall vision.

Gaining Traction

Gaining traction is a key component within your business structure. Define your priorities for the quarter, conduct team meetings with a clear focus in order to complete the tasks, and move forward.

These steps will assist in keeping your business structure simple, yet productive to attain the results you desire. Having a plan in place that works is key in making sure you are focused and are including the components that will keep your company on task. Keeping the company vision at the forefront of your operations will assist in creating a foundation for lasting success. Using theEntrepreneurial Operating System (EOS) can assist in building a business structure that works.

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Topics: Business Advice