Love him or hate him, Trump has freed up a bit of capital. How would you like your private equity spent?
Find a great idea.
Find a great team.
How do you help your great team deliver that great idea?
Get them some space, desks, chairs, computers, lights and heat. Then what?
If you provide the funding, you have every right to solid processes that are understood by you and your team. Documented processes provide everyone with the playbook on everything from how concepts are moved to market to the controls in place for cutting checks.
The difference process makes
Great businesses start with great ideas and great intentions. A lucky few have processes in place to efficiently move from idea to market. A lucky few have the processes in place to keep from wasting resources along the way.
Having key processes in place are as important as space, desks, chairs, computers, lights and heat.
It is relatively clear how to hire engineers, accountants, sales people, marketers and product managers. They each have a perspective on how to do their jobs. How do they know how to get things done in this new venture? Are they expected to just figure it out? Having a set of processes for your business allows people to work together in a way and with the tools that everyone understands. Businesses grow, and markets shift. If you expect to grow, you likely will rent a space a little bigger than initially needed. Why not stack the deck with solid processes as well? Having processes in place will allow the business to grow without growing pains because people are not making it up as they go or throwing money at tools that seemed like a good idea at the time. When new processes are needed, the starting point will allow the business to evolve rather than lurch or stall. Understanding the tools used to support processes provides the insights needed to make tool decisions that are fit for the process rather than bending process away from your needs to fit a shiny new tool.
It’s your money, how do you want it spent?
About the author
Kyle Parsons helps businesses create opportunities by building a structured understanding what is to be accomplished and the related technology required. This shared understanding of capabilities, processes and technology, allows the organization to prioritize high value process and technology investments.
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