E-Myth Part 3: Business Development Process

Business Development Process Systems

In Part 1 of the E-Myth series we learnt about a new way of thinking. We have to change the way we think as a business owner first, and then the business will follow. Your business is a perfect operating mirror of who you are. A reflection of YOU! If what you’re doing isn’t working the way you want, then it makes sense to try something else.

The E-Myth Part 2 covered the differences between The Entrepreneur (creates the Vision), The Manager (builds the Systems) and The Technician (produces the Product/Service).

In our third blog of the series, we are going to uncover Systemic Thinking and the Business Development System. 

Systemic Thinking

Creating effective systems requires systemic thinking. It is a way leaders in a business can analyse all aspects of the organisation. Behaviours, patterns, cycles and relationships – are they all running smoothly?

Systemic thinking is attention to detail, and developing processes and systems that help make an extraordinary business – a magnet for customers and employees alike. It allows you to build a business development system that eliminates frustrations, giving you the freedom to work on your business, rather than in it. 

The foundation of the Business Development System is three distinct yet thoroughly integrated activities through which your business can pursue its natural evolution. They are Innovation, Quantification, and Orchestration.

Innovation, Quantification, Orchestration

E-Myth Business Development Process
Innovation is how you do business, not just what you sell. It is the way your business is differentiated in the mind of your customer from all other businesses in the world.

Quantification is knowing the numbers and how well an innovation works. Without knowing the numbers, how can business owners make any decisions? Without quantifying the impact of doing business one way rather than another way, there’s absolutely no way to begin to build a business that works. Except by chance, by accident, by the seat of our pants. Is it any wonder why most businesses don’t work? 

Orchestration is the process by which you make certain that you do what works every single time. And that is what a system is. It’s an innovation that has been quantified to work better than anything else you’ve tried. It’s an innovation that’s been documented and standardized as an integral part of your business

Your Business Development Program

Think of your business as though it were a prototype. Imagine that someone will walk through your door with the intention of buying your business – but only if it works. And only if it works without a lot of work and without you to work it. 

Imagine yourself taking the potential buyer through your business, explaining each component and how it works with every other component. How you’ve innovated systems solutions to people problems, how you’ve quantified the results of those innovations, and how you’ve orchestrated the innovations so that they produce the same results every single time.

Your Business Development Program is a step-by-step process through which you convert your existing business – or one you’re about to create – into a perfectly organized model. It is the vehicle through which you create your Franchise prototype. 

The E-Myth breaks a business down into seven easily digestible components of Management. In our next and final E-Myth series blog, we take you through each of the 7 steps and how to implement these changes in your business. 

 

TED BONEL – STRATEGY & EXECUTION ADVISORS

Need assistance to help your team achieve your objectives to grow your business? Contact me at tedb@strategyandexecution.com.au to schedule a free 30-minute discovery meeting.

ABOUT STRATEGY & EXECUTION

We have been providing organisations and their leaders with facilitation support and executive education focused on strategy development and strategy execution for more than 20 years. Using business models such as Scaling Up, Exponential Organizations, E-Myth Mastery, Outthinker etc, we support organisations seeking to create or refine excellent strategies and execute them quickly and effectively.

Our expertise is based on a mixture of wide business experience, effective tools as well as a great deal of consulting and executive education. Our approach to working with clients is as unique as our specialist focus. We always seek to challenge our clients’ thinking – but equally are unafraid to roll up our sleeves and help execute the ideas we help generate. Learn more about us here or view our upcoming workshops and events.

If you are preparing for strategy development and/or a strategy implementation challenge and are committed to creating value for your organisation, we look forward to hearing from you. Contact us now