Ephor Management Science - Ephor Group is an advisory firm that provides expertise, resources and useful capital for emerging businesses.
Mistake #4:Failure to Create Systems: The Benefits of Branded Attributes and Franchise Effects
The Most Common Founder Mistakes
Top performing “high flyer” companies enjoy some/all of the following attributes:
- Greater Number of Referrals Per Customer
- Higher Revenue and Profits Per Employee
- Lower Client Churn
- Lower Turnover
- Recognized in the Community and Press
“Systems” facilitate growth and foster scale by ensuring repeatable processes with consistent outcomes. “Systems” refers to the procedures, processes, and routines that characterize how work is done.
Examples of effective systems include:
- Hiring Systems that ensure effective onboarding and Role Clarity
- Information Systems that support business intelligence and knowledge sharing
- Performance Systems which drive daily performance to corporate objectives
Brand & Franchise Effects include:
- The Brand is known and the brand attributes facilitate margins
- Playbooks guide and govern employee actions from new employee onboarding through promotion paths
Read more: Mistake #5: Failure to Achieve Constituency Alignment
Quotes
- Garry E. Meier
Downloads
News & Updates
