@tsludwig Great question. Besides the obvious - size of company, If you sit down and ignore WI and processes, you bang out key procedures in 10 hrs. Process take 20 hrs to get right in my experience, and WI you build as you go. I’d say a dedicated team of 1 per 10 roles can do 70% in 60 hr
@tsludwig The magic happens after you do this, armed with a better understanding, you’ll have so many streamline ideas. It’s hard to streamline what isn’t official, but this gives you a starting point to modify from. I also always institute immunity and growth engines immediately after
@tsludwig The hardest but best thing is to create a culture of collab after you implement this. If you set it up as a wiki, if becomes open source for the company, and it will grow way past what you document. I documented 1000 articles, we’re at 3000 now. It has taken a life of its own
Just shared a playbook with an older owner of a nat gas and water parts distributor in NY
Similar to one I used to grow cash, increase our multiple, and find a great buyer for 2 previous smbs
here is what I shared with him for his business 👇🏼
(As long as its typed, ill paste)
1. Write down how to do everything you do, knowledge-based or not. Write them using instructions as if you were delegating to someone with no experience.
This will help us bring new people as we grow.
Scale with fewer errors.
Package the business up for a buyer in 36 months.
2. repeat our model in more territories that are underserved.
These are easy to identify, and our service model will attract customers, with higher than industry retention.
Still going for me, so I'm sure this isn't a complete list.
First... 👇
2/7 Common Sense
Learning business basics. This is about all an MBA does for you. There are far faster and cheaper ways to acquire.
A few books, a few frameworks, a few conversations with owners and you are there.
Still, people pass common sense and end up in trouble
3/7 Psychology
As time passes you realize business basics aren't enough. You work with people, you sell to people, you buy from people. You need to understand people.
Once you get people, why they act, and learn to read them - you're performance will improve in all areas.
Listing agencies can help, but most likely won't. Your best strategy there is to set filters for industry and location for daily emails for all the major buy/sell business listing sites. If something is added in your realm, you'll see it and can email/call.
As someone that has constantly battled the demons of anxiety, performance, stress, self-worth, and the like, achieving peace can sometimes seem impossible. As I approach 35, here are 25+ things I have found to help live a peaceful life.
I should also add, I do not always do these all perfectly, but when I do - man it works.
1. Get a full night's rest
This can be hard for those looking to achieve, perform, build, and grow. Sometimes its not possible. But remember when pushing hard, that it isn't sustainable, so set future time aside to recover from the sleepness push you might be in the middle of.