What Are Repeatable Processes and Why Do You Need Them?
Repeatable processes are processes that can be followed day in, day out. The task of developing repeatable processes may appear time-consuming (even mundane), but it’s essential if you are to grow your business.
Just as the setting and the following of daily routines helps in everyday life, successful advisors know that by creating consistent repeatable processes they’ll build up a competitive advantage that’s hard to beat.
Here’s why you should be incorporating repeatable processes into your business model.
Having a repeatable process facilitates communication and builds trust
Your soft skills are key to your success, especially for effective communication. The ability to tell good stories is a prime example. If you develop a repeatable process when it comes to storytelling and practicing your stories, you will develop a sure-fire way to get your message across to clients. This will make it easier to establish an emotional connection.
And by developing and perfecting your stories and continuing to deliver the same messages in the same manner, your clients will see you as trustworthy and reliable.
Following repeatable processes will help you delegate
The ability to delegate certain aspects of your business is an essential task, so that you are left free to focus on doing the important revenue-generating things you need to do. However, if you act ‘on the fly’ every time you delegate to someone else, you will be not only wasting precious time, but possibly making your life even more difficult.
By stepping back and analysing your workflows you will be better equipped to delegate to others. Even if you decide to use a project management or a CMS software system to take on tedious automated tasks you need to ensure others understand how they work and what you want them to do. You can only do this if you have repeatable processes in place.
If you have repeatable process in place, you won’t have to start from scratch
If you have to keep re-inventing the wheel, you’ll waste precious time. Having to stop and think every time you perform a task will slow you – and ultimately your career – down. Having set procedures in place will ensure you get things done right every time, with fewer roadblocks to stop you from getting on with the job in hand.
Repeatable processes will help you outrun the competition
You don’t necessarily need to be ten times more talented than everyone else, you simply need to put in the hard work and stick with it. The majority of your competitors won’t be devoting sufficient time and effort into developing repeatable processes. If you, unlike them, decide to become master of the basics (via endless repetition) you’ll find that you’ll stay motivated and on top even when times are tough.
Repeatable processes will help you measure your performance
If you’re going to progress in your career, you need to know how far you’ve come and how far you need to go. If you don’t know what you’re doing every day, you have no idea if it’s optimized.
By making your processes repeatable you’re making them measurable, so you can determine whether you’re consistently hitting goals. If you’re not, you can retune things in order to do better. Having streamlined workflows will mean your metrics can be tracked and acted upon.
By developing repeatable processes you’ll get predictable results, the most predictable of all being your ultimate success. Talent alone won’t secure your success, hard work and tenacity will. To get things right you need to do them over and over again. Don’t feel you lack the time to put repeatable processes into place – it’s like saying you don’t have time to succeed.
Without ‘repeatable processes’ in place you can’t ensure efficiency or consistency – so step back and make these a priority for your business.