Operations Department vs. Operations Systems

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In episode 113 of Financially Simple, Justin takes a look at Operations and Systems within a Business.

The Operations of a Business will effectively run the Business. How well those Operations Systems work, will determine how well the Business runs and its value growth. Justin looks at Operations Management and Operations Systems, and what Business Owners should consider to make these processes work for them.

TIME INDEX:

01:24 - Operations Department vs. Operations Systems

01:57 - Ant Farm Operations

04:05 - Definition of Operations

04:28 - The Big “O”: Operations Management

05:47 - What the Operations Dept Oversees

09:25 - The Little “o”: Operations Systems

11:29 - 10 Tips About Operations

11:56 - 1: Operations Include both People & Processes

12:35 - 2: People is often the Largest Cost in an Organisation

12:51 - 3: Most People want to do Good Work

13:26 - 4: There are very few quick fixes in the Operations of established Businesses

14:16 - 5: Operations is not Rocket Science

14:55 - 6: Small Wins build Motivation, Large Wins improve ROI

15:17 - 7: Needing Help isn’t always a lack of Ability

16:19 - 8: Hidden Issues are often out of sight of the Owner or Management

17:18 - 9: Mitigation vs. Perfection

18:53 - 10: The Problem with Operating Systems is usually a weak Management System

19:31 - Closing

USEFUL LINKS:

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Operations Management Definition

Operating Systems Definition

DISCLAIMER:

Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.

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