Starting a business from scratch is a huge task. Most of the time, entrepreneurs skip creating a scalable structure for their idea, avoid reviewing templates and rush into the execution. However, not only entrepreneurs but also MSME owners are likely to make this mistake.
So, how does it adversely affect a business if we don’t have processes and systems in place?
The answer lies in the long-term perspective of things! If a business isn’t maintained properly and if there isn’t a system that can be used to scale a business, it is bound to be people-dependent. Worst case scenario: lack of system becomes a hurdle in growth and transition.
Now that you have identified this as a business owner, manager, leader, investor, or as a solopreneur, it is crucial for you to work towards building a system. Let’s take a deep-dive in what is involved in such a ‘system’.
Types of Documents to contribute to a System
Overall, there are 5 broad categories under which you need to track when you are creating a scalable business! Namely:
- Finance
- Legal
- HR
- Sales
- Self- & Team-Analysis
In order to avoid an information overload for you, we’ve oversimplified the list. Nevertheless, these are the building blocks that you would someday grow to be a Billion Dollar Idea!
A good way to go ahead with creating a scalable business is to document everything. The good thing is, you can use ready-to-use templates to help you to do the same.
So where do I start?
When you look up for help online, you would be surprised by the dearth of helpful resources meant specifically for you. However, MSMEx’s PowerKit is where your search ends!
The PowerKit is an actionable tool that provides you with over 100s of business templates and documents that you can use without any extra costs. These ready-to-use documents have been specifically crafted by the experts associated with the MSMEx platform and available in the public domain.
Hope this serves as a start to something great for you! Best wishes and Godspeed.
