O5.001 (PROCESSES UNDER CONTROL) AN OVERVIEW - WILLIAM EASTMAN

Today is part 2 of a 5 part, 45 show series on the Technology of Business. It runs 5 days a week over the next 9 weeks and is structured by our approach to a Balanced Scorecard for measuring and managing the business.

A quick reminder for anyone unfamiliar with our methods:

F = (O + C + P)E

Financial Performance is the result of how well the Entrepreneur/Owner/Executive leads and manages Processes, Customer acquisition and retention, and has People invested in the future of the business.

The previous show we covered Financial Performance from the perspective of employee capitalism, this show is an overview what you need to build to deliver on promise and all of the corresponding support processes.

Here is how the Balanced Scorecards converts into our weekly programming:

• Finance Monday: Employee Capitalism
• Operations Tuesday: Processes Under Control
• Customer Wednesday: Inside The Customer
• People Thursday: People In The Game
• Owner Friday: ReIMAGINING The Business

INTRODUCTION
When I think of operations, something I spent a good part of my career doing - both processes and projects, the one thing that keeps coming back to me is the rule 'under control". The issue in every startup is its hard to detail how something is going to be done before doing it. Instead of building one-size fits all solutions, the smart move is to put together a series of rules that generally apply. It is only after having a track record of production and customer response that you can begin to bring everything under control.

The second thing that comes to my mind after all these years is the concept of the lowest cost producer. This has nothing to do with price, it is an internal obsession to do everything faster than the competition and right the first time every time. This will bring your costs down to where price becomes a weapon.

If I bring these two lessons from my 40 years as an operator, here are the key rules to achieve lowest cost producer regardless of business size:

• Metrics for Accountability (Operations)
• Focus on Skill Mastery (People)
• Pay For Performance (Finance)
• Drive Next Level Scorecards (Operations)

OBJECTIVES
Today's show is designed to lay the ground work for Part 2 of our 5 Part Series on the Technology of Business. We will tell the story of how the team at IBGR built product and support processes in the past and provide you with a road map to follow or intelligent deviate from. BTW - it is what we are currently doing.

WHAT YOU NEED TO KNOW

• O5.001 Series Overview (3MAY21)
• O5.002 Creating Your Balanced Scorecard (10MAY21)
• O5.003 Mapping Your Processes (17MAY21)
• O5.004 Burdening Everything With It Real Cost (24MAY21)
• O5.005  Fine Tuning Your Metrics (31MAy21)
• O5.006 Selecting The Right Charts (7JUN21)
• O5.007 Managing With Visual Metrics (14JUN21)
• O5.008 Continuous Improvement (21JUN21)
• O5.009 Next Level Scorcards (28JUN21)

WHAT YOU NEED TO DO
"The World of Business at Your Fingertips" 

1. Follow the Process Under Control Series all season.​
2. Join our private Facebook Group and go way beyond what is possible on radio
3. Get your business growth news everyday from IBGR.News​
4. DOWNLOAD the IBGR Growth App
5. RESEARCH anything related to Starting, growing, or Exiting a business on the IBGR Network