Business Operations Reads and Insights — Part 2
Here are some other articles that I came across that I want to share as they echo the same sentiments as what we have in business operations.
First is “Business Ops in the New Sales and Marketing Ops. Why Consolidation is Crucial to Your Bottom Line” by Nick Frost.
I love how well the stage is set in this article and how much is focuses on a Unified Operations Team, which you fairly commonly hear as a centralized business operations team.
““What were our sales last month?” Simple question, right? But do usually get a simple answer? Not likely. Maybe sales responds first and shares the bookings number (MRR, ARR, TCV?). Then Finance weighs in with details on billings or collections, and likely adjusts the bookings number down. Lastly, Marketing comes to the table with the amount of revenue they influenced…okay, thanks for that. When did it become acceptable to have several, very different answers to the same fairly straight forward question? And why is each team at your company pulling their own metrics, analyzing their own data and drawing their own conclusions?”
“Misalignment is wasting valuable operational resources. The crux of the issue: Each leader wants to make his or her team look good. A unified Business Operations team can break down these silos. For my money, I’d rather have a team of smart people working in concert to help address key issues than three or five or ten people off doing it on their own, working in parallel with limited communication. Reevaluating and consolidating your Ops structure can have myriad benefits for your bottom line.”
“One source of truth. When you have a unified Business Ops team and you ask the question “What were our sales last month?” or “How many leads were generated quarter to date?” the answer IS simple because the team is aligned in how these questions should be answered. There is no vying to interpret the data or represent a particular department. Instead, the individual best equipped to answer this question can get to work. You have a sole repository for data, one version of the truth in your metrics and you’ve eliminated redundancies, which allows everyone to refocus. Best of all, you get to the right answer faster.”
“Enhanced collaboration. Ops people need peers, people to brainstorm with and bounce ideas off of. They need other data-driven, process oriented and / or creative thinkers to push them. With a unified Ops team you have the ability to hire more junior resources, train them internally and create career paths.”
“Ability to recruit for core competencies. By centralizing your Operations team, you can give each department access to the skill sets they need, when needed, and stop hunting for unicorns. Your job descriptions become clearer, your roles and responsibilities cleaner and more defined, and ultimately you’ll recruit people who are better suited to the job they need to do.”
Second one is “7 Signs You Might Need an Operations Guy” by Jay Wehrer.
“Many businesses fail because the CEO did not do what was most important for growth and revenue generation.”
“Below are seven signs that you might consider bringing on an operations executive.”
“Are You Spending More than 25% of the time in day-to-day activities?
“Are You Building Systems “Willy Nilly”?” Building a company on a strong foundation of best practices, systems, and processes in a planned approach is critical to ability of a company to grow and scale. An operations executive will take time to consider the current foundation and the future foundation to lay out a path with a systematic approach.
“Is There a Pragmatist on Your Team?
“Are You a Hyper Focused Founder?”
“Are Your High Lifetime Value Customers being properly cared for?”
“Are you ready to grow the company beyond Salesman #1?”
“Can Your Company Afford to be Leaky?” It’s not uncommon for new companies to have leaky buckets of revenue, expenses and margins when growing fast. An operations executive that will find the leaks and get them closed.”
Third one is “How to deal with operations inside your company?” By Nemanja Zivkovic. This article is a bit of a tangent of business operations, but there is a very good list of things that need to addressed my management. As I was reading this list, it matched very closely to the my ten business operations list, so I really wanted to provide this as a resource. You can read the article for a brief on each item on the list.
1. Organizational values
2. Organizational culture
3. Planning processes
4. Follow up and Measurement
5. Time management
6. Clear communication
7. Standardization of the processes
8. Team management
9. Employee branding
10. Talent management and development
11. Monthly Feedback
12. Team roles
A theme that keeps coming up in most of these articles is the concept of Silo Effect. I am very curious to learn about what systematic methods you use to help break down silos. Reach out to discuss!