Podcast

2 – How to Create Business Systems | Tony Booth on Contracting Coachcast

3 Key Points:

  1. Build your business with systems.
  2. Start with the Leadership Foundation.
  3. Measure your baseline, create a system, test results and constantly improve the baseline.

Show Notes:

  • Jamie started his career in sales in 1997 and an entrepreneur since 2009.
  • The big challenge has always been finding people who would do the hard physical labor and operate a safe yet profitable business.
  • Jamie sometimes felt like a conduit for cash, money comes in but goes right back out again.
  • Jamie found that one of the most rewarding parts of owning his contracting business was seeing his customers have that “WOW” moment.
  • Another rewarding part of owning a contracting business was helping employees.
  • Jamie structured his business, so he could operate it after moving 1000 kms away.
  • In year two of owning his contracting business Jamie had a 20-foot fall at work, he almost died, and he needed 6-months to recover.
  • After that experience, Jamie asked 4 questions when building his business systems:
      • Will it produce predictable results?
      • Will the system operate independently of us?
      • Will the system scale in the future?
      • Would someone want to buy our business running this type of system?
  • Another AHA moment was when a competitor approached and asked Jamie to buy his business, but the competitor had no systems.
  • When Jamie sold his business the contractor that bought his business purchased it for the systems.
  • Systems smooth out your cash flow and helps take the stress out of running the business.
  • Residential estimate system helped Jamie close 90% of business despite at times having a higher price.
  • “When we broke the system we always regretted it.”
  • It takes time and patience to teach your team to follow systems.
  • Measure your existing baseline, create a system, test to see if it improved the result above the original baseline.
  • A building cannot be built without a foundation; a business cannot be built without the leadership foundation in place.
  • Jamie now offers a coaching program that teaches people how to build a great business.
  • This podcast interview was originally aired on Contracting Coachcast and aired on August 28, 2017. If you are a contractor I highly recommend listening to Tony Booth.

 


This episode sponsored by:

Screen2Fit by Pro.file

If you are hiring a new employee, we highly recommend that you use the Screen2Fit recruitment platform by Pro.File.

Process Street

I use Process Street to create systems in my business and I highly recommend that you use Process Street as well.


If you enjoyed this interview, then you will love my new book The Blueprint of a Great Business! This book is for self-employed people with service-based businesses that want to provide for their families and create freedom and flexibility in their lives.

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