Implementing Systems to Transform Your Firm with Josh Fonger
Oct 30, 2023
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Guest Josh Fonger helps businesses standardize and optimize their work to revolutionize little pieces of their business. They discuss the problem of being too busy and not having systems in place, the importance of systematic strategies, and how implementing systems can increase efficiency and reduce workload. They also highlight the challenges of business growth and the power of implementing systems for long-term strategy and growth in accounting firms.
Implementing systems can revolutionize little pieces of a business, leading to overall transformation.
Recognizing the breaking point and implementing systems can overcome growth challenges and optimize efficiency.
Deep dives
The importance of developing systems in business
The podcast episode discusses the significance of having systems in place to run a successful business. It emphasizes that busy entrepreneurs who are ready for a change should focus on developing and documenting the systems of their business. The speaker shares insights from the book 'Work the System' by Sam Carpenter. By implementing systems, businesses can become more productive, effective, and profitable. The episode highlights the need to prioritize strategic objectives, principles, and procedures, and to delegate tasks to optimize efficiency.
Identifying bottlenecks and overcoming growth obstacles
The podcast explores how businesses often reach a plateau point where growth becomes challenging due to the owner being the bottleneck. This bottleneck can occur regardless of the company's size and tends to affect smaller, private companies. The episode emphasizes the importance of recognizing this breaking point and implementing systems to overcome it. By developing and documenting systems, businesses can work towards becoming more efficient, increasing profits, and focusing on strategic growth instead of continuous firefighting.
Empowering employees and standardizing processes
The episode highlights the significance of empowering employees and standardizing processes to achieve better business outcomes. It suggests allowing team members to take ownership of specific systems and creating clear boundaries for client interactions. By setting up systems for onboarding, client communication, and other key processes, businesses can maximize efficiency and create a consistent client experience. The speaker emphasizes the need for consistency, predictability, and controlled client interactions to build lasting relationships and foster client satisfaction.
Implementing continuous improvement and measurement systems
The podcast episode emphasizes the importance of continuous improvement and measurement systems in business operations. It suggests regularly reviewing and refining systems to identify areas for optimization. By measuring key metrics, businesses can gain insights into their performance and identify opportunities for growth. The episode encourages businesses to adopt a mindset of continuous improvement and accountability, focusing on refining existing systems, enhancing quality, increasing productivity, and adapting to changing market demands.
“The systems of your business are already there. The work is already happening. We help you get better at the work by standardizing and optimizing it. We're going to revolutionize little pieces of your business one at a time, and that’s what make the difference.” – Josh Fonger
The finer details of this episode:
Focus on the problem of being too busy and not having systems in place to work on the business
Importance of putting the principles into practice and working with diverse clients
Goal of helping businesses become more productive and effective through systematic strategies
Importance of having a systems mindset, clear vision, and documented procedures