Hidden in Plain Sight - How Entrepreneurs can Find Waldo through Small Business Processes

Using Small Business Processes to Find Money & Build Sustainability in a Depressed Economy
HIDDEN IN PLAIN SIGHT

© Copyright 2010 - 2011. Alicia Butler Pierre. All Rights Reserved.
Equilibria, Inc. | www.eqbsystems.com | info@eqbsystems.com | @EquilibriaInc
Purpose
To demonstrate how and why business processes
are vital to scalable, sustainable growth –
even for small businesses!

What It Is & What It Is Not
Sequential steps required to
produce a desired result.
Exposes inefficiencies
Reveals bottlenecks
Represented in many ways
Performance Evaluation Tool
Training Tool
Creates Transparency
Can be time-intensive
Can be expensive depending on
the level of complexity.
Is a sign of business maturity.
Should be task dependent.
Is NOT a system
Is NOT just for Fortune 500
Is NOT an employee manual
w/policies
Is NOT a waste of time and money
Is NOT People Replacement Tool
Will NOT be done overnight
Is NOT people dependent

Anatomy of a Business Process
Cookbook = Operations Manual
Instructions = Process
Picture = Desired Output
Ingredients = Tools

The Challenge
What Does Scalability & Sustainability Look Like?
1. Know What Needs to Be Done.
2. Know Who is Supposed to Do What.
3. Know How to Do What Needs to Be Done.
4. Know What the Contingency Plan Is (Just in Case).
5. Ability to Profitably Replicate Your Model.
Main Office
Office 1
Office 2
Office 3
Office 4
Office 5
Office 6

What’s YourCompany’s “Waldo?”
=
 In this presentation, “Waldo” represents the source of a challenge
that you know is there, but you can’t quite find it or figure it out.
 You can use a business process to find that “Waldo.”
 The question to ask yourself is “Are You Ready to be Exposed?”

The EquilibriaStory: FindingWaldo
=
 Getting clients, but not retaining money.
 Taking too long to deliver services.
 Too many services.
 We knew Waldo was there, but we could not find him.
 Were we willing to face the truth?
 We needed to practice what we preached.

The IndustrialRevolution
Widget Production ● Factories ● Manufacturing Process

The FranchiseExpansion
Widget Customization ● Retail ● Manual

Mergers& Acquisitions
Widget-supporting Services ● Companywide Best Practices ● Metrics

Rise of the Small Business Enterprise
Small Business is Attractive
 Flexibility
 Technology Access
 Viable Suppliers
 Better Customer Service
However…
Small Businesses need to
prove scalability &
sustainability.
Processes are a
way to do that.

Warning!– The Rabbit Hole
Establish Boundaries Quickly

Evaluate Identify Assess Document Measure Store Improve

Why Does YourCompany
Need Documented
Processes?

How Will ProcessesHelp YourCompany Grow?
PROFIT & LOSS
STATEMENT
↑ Revenue
↓ Expenses
= ↑ Profitability
BALANCE SHEET
↑ Intangible Assets
↓ Liabilities
= ↑ Equity
CASH FLOW STMT
↑ Net Operation
↑ Net Investing
↑ Net Financing
= ↑ Net Cash Flow

ACCOUNTING DEPARTMENT
 Submit invoice to client
 Deposit checks
 Generate receipt in QuickBooks
 File receipts & bank statements
 File merchant account information
 File bank account information
 Enter bills into QuickBooks
 Pay bills
 Sign checks
Brainstorm List of
Tasks for Company
START
Group Like
Tasks into
Departments
Group Like
Departmental Tasks
into Processes
Accounts
Receivable
Process
Records
Management
Process
Accounts
Payable
Process

 QuickBooks User Manual
 Checks
 QuickBooks Software
 Invoice Template
 Monthly Deposit Report
 Password List
Take Inventory of
Existing Tools
Match Existing Tools to
Identified Processes
Accounts Receivable
Process
Accounts Payable
Process
Records Management
Process

Create List of
Processes per
Department
Prioritize Processes
Based on Needs
Assign to an
Administrator
Department Priority Processes Administrator
Accounting
1
Accounts
Receivable
CFO
2
Accounts
Payable
Bookkeeper
3
Records
Management
Bookkeeper

Develop a Style
Guide for Each
Type of Tool
Choose Optimal
Documentation
Tool
 Capture screenshots and
voice recording
- Camtasia
- AVS
- Zamzar
Web Apps
 Flowcharting Software
- MS Visio
- Orkut
- Free Web Apps
Software
Be mindful of copyright
Infringement.
The Process ShopTM
MS Office Online
- Checklists
- Databases
• SlideShare Presentations
Templates
 Digital Camera to Record.
 Social Media TV Channel
- Create Custom Channel
- Subscribe to others.
Video

Department Priority Processes KPI UOM Administrator
Accounting
1
Accounts
Receivable
on-time
collection
collected/
owe ratio, %
CFO
2
Accounts
Payable
late fees <amount, $ Bookkeeper
3
Records
Management
internal &
external
audits
deficiencies,
min. %
Bookkeeper
Determine How to
Measure Process
Performance
Link to Performance
Evaluation
Conduct a Trial Run to
Test Feasibility

Key Components:
- Table of contents
- Flowchart of Process
- Procedural Format of Process
- Accompanying Tools
Choose Optimal
Storage Solution
ELECTRONIC/NETWORKSTORAGE PAPER /HARDCOPY STORAGE
THE “CLOUD”&SOCIAL MEDIA
 SlideShare
 Wiggio, BaseCamp
 Google Docs, DropBox, Box.net
 MS Sharepoint
 Wikis
 YouTube

Improve Processes
Six SigmaLean Sigma
Process
Automation
END

1. Evaluate. Looking in the mirror. Growth = licensing IP.
2. Identify. ~30 total processes. Service Delivery top priority.
3. Assess. Leverage existing MS Office applications for automation.
4. Document. Converted sequential steps to software.
5. Measure. Mapped & timed process to expose bottlenecks.
6. Store. Combo of remote data backup, cloud & external hard drive.
7. Improve. Changed target client & virtual service delivery.
© Copyright 2010-2011. Alicia Butler Pierre. All Rights Reserved.
The Equilibria Story: HowWe Found Waldo

RECOMMENDATIONS
1. Ask your clients/customers and
employees for feedback. LISTEN.
2. Seek methodical, detail-oriented thinkers
to document processes.
3. Request original copies of processes from
third-party consultants.
4. Ask someone outside of a particular dept.
to review a process for validity and
accuracy.
5. Consider the sensitive nature of the
information recorded.
6. Remember, just because you write the
process does not mean that everyone
will understand it.

Determine the purpose behind your processes
Begin with the end in mind
Take an inventory of existing tools
Integrate existing tools into processes
Document, secure and maintain
JUST GET STARTED! Templates = Head Start

Download a
complementary
Accounts Receivable
Process & Flowchart
from. The Process
ShopTM. Click here.
1
Request a complementary
30 minute phone
consultation & learn 3 things
you can do to immediately
improve back office
operational efficiency.
2
Recommend, Like or
Share The Process
ShopTM with your social
networks and receive an
additional 10% off any
product or service.
3

THANK YOU
This presentation was originally shown in 2010 at the Fast Trac Growth Venture
class through Georgia State University’s Small Business Development Center.
Thank you to Tim Fulton for facilitating the leading and follow up discussion to the
presentation and to Georgia Power for providing the presentation facilities. And
most importantly, thank you to all the entrepreneurs who build the foundation of
the American economy.
Note: This presentation is changed and re-formatted with each class so feel free to
bookmark this page and check again in a few months for possible updates.

IMAGE CREDITS
Waldo images: http://findwaldo.com/
Slide 3: Money: http://30goalsby30.wordpress.com/2011/08/07/18-save-a-pre-determined-amount-of-
money/
Slide 4: Scroll
https://teams.cokecce.com/sites/VendingWholesaleTeam/ops/Strategic%20Initiatives/Forms/AllItems.aspx?
RootFolder=%2Fsites%2FVendingWholesaleTeam%2Fops%2FStrategic%20Initiatives%2FIntelligent%20Vendin
g%20System%2FProcess%20Documentation%2FIVS%20Fulfillment%20Tasks
Slide 5: Recipe Card: http://www.razzledazzlerecipes.com/artistcafe/recipecards/brown-recipe-card.htm
Slide 13: http://www.lightinghomes.net/gallery/company.html
Slide 14: Child Entrepreneur: http://www.cosmoloan.com/investments/10-inspirational-child-
entrepreneurs.html
Slide 15: Alice in Wonderland: http://tuningintoscifitv.com/wp-content/uploads/2009/11/Alice_04.JPG

Hidden in Plain Sight - How Entrepreneurs can Find Waldo through Small Business Processes

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