A little over three weeks ago I accepted a position as Chief Operating Officer in the IT Consulting Firm that I have been working at for the last 22 months. My role has been evolving over this time, where I have been a senior technical consultant, an account manager, and a senior business development manager.
Wrapping my arms around the operations of an existing company is very different from building operations in a start-up company. I have been immersed in getting the day-to-day operations smoothed out, while trying to unearth the logic behind certain historical processes – as we need to tighten up the belts, and get everything moving forward as a team.
My work style is very different from the previous management, and I have been meeting with clients to find out what they like and don’t like, in order to decide if I want to change things or not. My topic for April’s blogs, ironically, is “Processes for Success” – and I get the impression that somewhere my subconscious is laughing hysterically.
This is the type of opportunity that doesn’t come around often – a chance to make things better for the team and the clients, to establish a habit of success on the team, and to uncover all the things that are right about the business (because let’s face it – it is always easy to criticize ANYthing, it is harder to glean all the golden nuggets from things and I like the challenge). The business would not have survived since 1994 if it did not have “good bones”.
The biggest challenge I have at the moment, is our own infrastructure. So here are some lessons for you, if you are as smallish business, in case you find yourself growing, or have to turn the reins over to someone else so you can (God forbid) pursue other dreams:
- Document who is the authorized representative of your Company/Business for each of your accounts – cell phone, electric, bank, rental, local stores, alarm/security or suppliers.
- If you are the only designee, make sure you have an emergency contact – who the account knows can act on your behalf, in case.
- If you have an employee as a designee, then make sure you keep the accounts up to date, when that employee leaves (this prevents “accidental” or intentional issues).
- Keep copies of account information off-site (scan history and burn them to DVD and store them elsewhere – like a safety deposit box).
- Document any “exception” processing you do – like special pricing for specific clients, or memorized transactions in your accounting system.
None of these is totally debilitating individually, but they can be quite a hassle all together, and they keep you – the owner – tethered to your business. I know, I know – there is the trust issue, but there is always the chance that someone will act foolishly, if not opportunistically, and that is one of the reasons you should have Professional (aka Errors and Omissions) insurance. Most people are trustworthy. Those who are not, will find ways to do things no matter how securely you think you have everything protected.
So do yourself a favor, come up for air, and then take a look at your infrastructure. Start to help yourself help your business.