In Real Estate, the three most important words are Location, Location, Location.
In Business, it's Process, Process, Process!
If you do anything more than once and it’s important to your business, then it is essential to have well-defined processes that are continuously improved.
Yes, Sales are critical - and we need to follow best practices. Yes, Operations are critical – so we need reproducible processes. Yes, Finance is critical – so we must have aligned processes. Hiring great people is absolutely critical – so we need a shared process.
Successful businesses have strong and aligned processes from Hiring to Sales to Delivery to Revenue Recognition.
ALL business activity happens via a process. If that process is important to the business value delivery stream, then you must invest in its maturity. So, it is necessary to determine who:
Owns the process;
Documents the process;
Trains resources on the process;
Ensures accountability to process expectations;
Monitors the process; and
Improves it.
That's my 8020 Framework. What's yours?
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