The most important systems a business can have and those things that are highly valued by high performers are policies, procedures and plans – the three P’s. The optimal performer will want to know why the company exists, what the vision is, agreed goals and strategies, and will need policies and procedures which enable them to do a great job. They will want to see operational plans and strategic plans so they can really understand the direction your taking. The three P’s are vital tools to build any business and without them your business is not saleable and hence not that valuable, because it relies completely on you.
Policy and Procedure manuals can be hard copy or electronic, they can be made available through an 'intranet' or simply stored in a binder on site.
The most important thing about a policy and procedure manual is that it is maintained. That means constant updating as things change in the organisation.
I have created many electronic induction programs based on policy and procedure manuals. They are a fabulous way of introducing a new employee to the business. They also get the employee up and running really quickly.
You can link in some training elements into a policy and procedure manual by incorporating customer service scripts, expectations and information that the employee will find useful.
Policies and Procedures Manual Success Story:
Recently I started a new employee at a medical practice and she was super keen to get straight into her work. I asked her to sit down at the computer and start reading through the policies and procedures manual. She thought this was quite mad and attempted to start to answer the phone and get on with the job. I let her know that this company was no ordinary medical company and that it was best to start with the PP manual. After much convincing she started to read through it. She couldn't believe how much she learnt - not only through the policies and procedures but also through the tips, scripts and expectations. She was up and running by midday and was able to answer all manner of complex enquiries with a confidence that often takes many weeks to acquire in a new position.
http://www.incitesolutions.com.au
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@Emily, have you checked out your local Chamber of Commerce? They might be able to you help you. Plus, it’s always good to network.
Otherwise, I suggest looking at BizTrader.com. It's an online global marketplace where you can buy and sell business. There's a wide selection, making it a good place to find a small business on the Internet. You can also use it to find a lender, broker, etc.
Good luck!
Hi Emily, It's great that you are thinking of owning a busines in the future. The type of business you want to run will largely influence your business structure with regards to Franchise, Home based etc. My advice would be to do your research, no matter what the business. Think about how it will impact on your lifestyle, your reasons for wanting your own business, your skill set in running a business and what types of tasks you might need to outsource. Also, keep in mind that Franchises have everything pretty much mapped out, which can be great for many. However, I have a friend who had owned his own business and it thrived. He sold it and bought a franchise and never really enjoyed receiving his orders from above. Franchises can be really particular about what you offer and the way that you offer it.
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