Operations is the machinery that makes everything go. It refers to the inner workings, the actual infrastructure, the systems, and the structure of the business, and covers everything you need to happen to execute your concept. The flow of operations can make or break a business.Here are some facets of operations:
Location and equipment need to be considered at the start and should be easily obtainable when you are Operational flow and patterns also need focusing on because they deal with sequencing, or doing the right thing at the right time. Plans to fix the team and organization must be set at the start, because it is very difficult to play catch-up as the company grows.
The information technology systems must also be put in place early on as they are a cornerstone of your infrastructure and are thus worth the time or money it will take to set them up. Entity structuring is also necessary as the legal structures – partnerships and corporations – help protect you and your business.Finance is vital to business success, as has been mentioned earlier throughout this book, so it is important that your income statement, balance sheet and cash flow statement are taken care of.
Business broker listings and papers – if you’re going to buy your Cash Machine, scour the business-for-sale segments of your local classifieds and the broker listings as well. Display ads, commercials, the Yellow Pages – look at how other companies position their product, see what audience they are targeting. Even the listings in the Yellow Pages may help clue you in to what is out there and what is missing. Field trips -- head out to see what’s out there.
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