Entrepreneurs::Successful Business Practices

Use of Standards
I have found that the most successful companies use standards to control variability within the work place. By effectively documenting how the work is done and regularly auditing work to ensure standards are consistently used, business owners can confirm that the variability in output is minimized, allowing the organization to run more smoothly. This includes areas of the business focused on non-production items, such as finance and sales.

Adopting Visual Aids
Those organizations that use visual systems and signals are better able to control their businesses. They are also able to see quickly when something is not performing as expected. These visual systems allow for the collection of performance data on a real-time basis, and they provide an analytic perspective so that trends can easily be identified and improvements implemented.

Solving Problems
Finally, organizations that are more effective at designing systems and standards for solving problems perform better than those who use ad hoc methods for solving problems. By systematically identifying the root cause of and the probable solutions to the problem, employees report a higher level of job satisfaction, which results in lower turnover and higher employee morale.

Since conducting this research, I have used what I learned in my companies, resulting in a highly engaged, aligned and empowered workforce that produced improvements of 28 percent or more in just a few weeks. Ultimately, I have found that the survival of one’s business is directly related to the overall health of that business, and that the most important lesson is the journey, not the destination. Building a business is never easy, and building a world-class business is even harder. By applying what I’ve uncovered, I hope to build a successful future for my business, one lesson learned at a time.

By: John Stepleton
EO Portland
John Stepleton is the CEO and founder of Knowledge Fulcrum, a business that provides organizations with information, tools and resources that help them better inspire their people, align their efforts and empower their staff.
You can reach him at: moc.murcluf-egdelwonk|notelpets.nhoj#moc.murcluf-egdelwonk|notelpets.nhoj

Now On to: Strategies on How To Deal With Locations By: Michael Hung {EO Hong Kong}. How to get the best out of where you are.

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