As I’ve discussed in earlier Insights articles, the Performance Culture System™ is about producing results by giving your team an idea worth working for and a clear understanding of what needs to be done. In other articles I’ve described how to develop an idea worth working for by firmly integrating the purpose of your business into your company culture. This article focuses on “How to Do It” in a meaningful way.
Many people start a business based on expertise they have and a desire for more control over their careers. Michael Gerber describes this person as a Technician in his book eMyth. A fatal assumption made by most Technicians is that if they understand the technical work of a business, they also understand how to build and maintain a profitable company. Unfortunately this causes many businesses to fail or never reach their full potential.
If you are a Technician, the process element of the Performance Culture System™ helps you overcome this common challenge by defining your way of doing business using the Value Chain approach. Your Value Chain describes your way of acquiring customers and delivering value through products or services. This approach has been very successful because it enables entrepreneurs to build a scalable business that can grow without the founder’s day-to-day operational involvement. One of Wilmington’s fastest growing companies, N2 Publishing, has mastered this principle by defining core processes that can be deployed in any city. While N2 Publishing was started in Wilmington, it now serves hundreds of cities with its neighborhood publications.
The first step to build your Value Chain begins by defining the key activities to acquire customers. For example, most businesses begin with Lead Generation and describe the most effective ways to generate qualified prospects. The businesses will then define their sales process to convert prospects into customers.
The second step of the Value Chain is to define how the company will deliver on the promises made to its customers. The activities will include:
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