What are the invisible investments in business; in other words, the intangibles—the not so readily seen assets of a business?
Certain businesses impress us with amazing service and quality; also, impeccably clean facilities. As a business owner or manager, when seeing this type operation, you may have asked yourself, “How do they do it?”
So, HOW do certain businesses sustain such good quality and service, while keeping their place of business spotless?
My first thought would be this place is probably NOT a “Mom & Pop” store or small, independent business!
The X-Factor Business | Invest in Intangible Assets
Businesses with beautiful show rooms, a recognizable logo and brand colors, are usually successful franchises. Due to great quality and service, people TRUST these turnkey franchise businesses. Moreover, it’s because of something I call the “X-factor”; those invisible investments that are generally unseen by their customers. However, if you’re a professional observer like me, who has developed a kind of X-ray Vision for hidden business systematization, you see these intangible assets everywhere.
I’ve spent years dissecting, developing, planning and implementing behind-the-scenes business process systems. I have even pointed them out to others, while consuming products and services from their facilities. Visiting Starbucks or MacDonald’s, I’ve appreciated seeing how they systemize and operate these “cloned” stores.
However, a business does not need to be a FRANCHISE to operate like a franchise. How do I know? Because, we did it! We franchise-readied our business to where it operated better than many franchises. A Nintendo Quality Auditor told me directly, we had the cleanest and most organized company he had ever audited. Not bragging, just sharing this truth in hopes that it may encourage others! Fact is, I’ve seen franchises that performed worse than some independent businesses. But, if we can do it, anyone can do it!
Intangible, Invisible Investments | Behind the Curtain
The, intangible, invisible investments that the better companies spend capitol on are NOT mysterious at all. Although you don’t readily see them when you first visit a business, the EFFECT of these intangibles is very evident. In fact, these invisible investments are all around you, especially in a brick and mortar facility. As a result, they manifest themselves as exemplary service, quality product, a clutter-free facility. Most importantly, they have a very peaceful atmosphere. We believe every company should invest in these intangibles!
If management allowed you to pull back the curtain on their well-run business, and to see their intangibles, you would be surprised! In fact, you would see an operation of interactive processes, a business organization via systems. Moreover, a written, detailed operational process of how the business operates from opening to closing. You would see step-by-step processes carefully scripted, planned, implemented and sustained, using a systematic approach. In addition, you would understand this type of business makes their Operations Manual easily-accessible to their employees via software. Whereas, NOTHING this type of business does is left to chance; not even in the way they keep their facility clean.
Those types of businesses also use the latest technology to aid them in their organizational goals. However, the use of technology is not left to chance either, as they use control systems to ensure their technology is properly and consistently utilized.
Many industries turn to systematization and integrate control systems into i.e. restoration job management software, job shop management software, printing management software, and small manufacturing management software, etc.
Benefits of Intangible Investments
Owners of systematized businesses don’t have to be ON-SITE, for all the systems to continue working correctly. With their “invisible” systems in place, they have freed themselves from day-to-day operations. Therefore, they have the time to work ON growing the business, and to follow their dreams.
The next time you experience one of these organized businesses with the invisible investments, take note. Ask the owner or manager to pull back the curtain so you can see how it all functions. I would bet, it all has to do with their investments in intangible systems!
Did I mention? Great Systems Work!