As an entrepreneur you are just getting started. You have massive ideas and little structure. You are constantly super busy and have little or no time for anything but trying new ideas. But, there reaches a point where you are ready to move from entrepreneur to small business owner.
Business is picking up; you have a pretty steady stream of customers and clients. It is vital that your “business” keeps up with demand. Systems need to be in place so that customer service doesn’t suffer because things have gotten out of hand.
Policies and procedures need to be in place so that you and your employees know how to handle every situation. Systems can guarantee that all sales are invoiced and that all invoices are collected. I have seen one of my accounting clients lose thousands of dollars because work was not invoiced properly. I finally had him put a system in place so that invoicing wasn’t missed.
The same can be said about purchasing as well. By having a procedure (i.e. using numbered purchased orders) you can tell if a vendor has invoiced correctly. It is also used as a double check to make sure the customer was invoiced as well.
Developing procedures and systems is an ongoing process because of changes in your business and your customers. But, having at least an outline of how things should flow can save you countless headaches down the road. You can concentrate on growing your business because you know the details are taking care of. You can go from ideas to success!