Finally tackling your Operations Manual

It looms over you, it taunts you, you know it has to be done.  What is it?  It’s your operations manual.  You’ve heard all the reasons and you’re a believer.  You know your practice will run more smoothly if you have one but where to start.  How do you get it going?

Start with a general outline by segment of the business.  For instance:

Chapter 1:  General Overview of Basic Procedures.  In this chapter, you might include:

Quality control, General Company Background, Office Address and contact information, Directions to the office and so on…

Now, bite it off in small pieces.  Assign someone in your office to drive it (if it’s just you, you’ll have to be disciplined enough to get it on your calendar and then stick to it).  Take it three or four sub-sections a week.  For instance, the first week might include the 5 sections I listed above and nothing more.  That’s okay, do not try to do it all at once.  You won’t, you’ll get bored, you’ll get overwhelmed and you’ll quit!

Another suggestion is to build it as a wiki which then becomes a company intranet of sorts.  I build my clients on www.wetpaint.com.  It works great, they can keep it private and invite whomever they want and it makes it very easy to edit.  Additionally, it makes it very easy to find one or two processes without flipping through a large manual.

Give it a try and let me know how it works or if I can assist you in anyway.

Thanks!

It’s starting to feel personal or what is the back up plan for the back up plan?

Okay, so here I am taking some time off visiting my folks in Louisville so my husband can attend the Ryder Cup with my father.  I bolted out of Baton Rouge ahead of Hurricane Ike (which thankfully didn’t do much harm in Baton Rouge) thinking that coming to Louisville, KY (completely landlocked) would be a safe haven.

WRONG!  Sunday afternoon Ike moved through Louisville with sustained winds of 35 to 50 mph and gusts of 70 mph.  108,000 in the city are still without power.  Fortunately, my folks never lost power but most of their friends are still without.

What is the point of this rant you are wondering?  The point is I continue to hear from folks (I have  client in Houston) about back up contingency plans, what worked, what didn’t.  For instance, if you have no power at your home or office, how are you going to charge your cell phone and your lap top?  If you stay with a friend or relative who has power and you need to make a trade on his computer before yours is charged, do you feel comfortable doing this?  In other words, what is the back up plan for back up plan?

Again, I cannot urge you strongly enough to spend some time on your back up/contingency plan.  Don’t just do the minimum and think you’re in good shape.  You are not.  Gustav and Ike were dangerous, damaging storms and even 800 miles inland, can wreak havoc on your business, your personal life (who’s going to watch the kids when the schools are closed as many continue to be here?) and if you’re not careful, your clients by association.

Also, again, please send me any thoughts you have on any items that come to mind that might not be included in a typical, average contingency plan.

Thanks and keep your head down…

Processes, Processes & More Processes

You just can’t escape it no matter how you try.  You must have processes for your firm.  There is no negotiation on this point.

But where and how do you start?  I have written a white paper that is posted on my website about tackling a Practice Policies Manual.  I have also developed a “Master Task List” as it were that can help you capture various tasks, etc. (there are some categories on the Master Task List that do no apply to writing processes but it is a good “big picture” diagram).  Please send me an email requesting the Master Task List if you’d like to have a copy. 

Okay, so how do you do about it?  First of all, DON’T try to do it all at once. This is where most of my clients get tripped up.  They feel like they have to sit down and complete it in one sitting.  NO ONE would do this.  You’re setting yourself up for failure.

Take a look at the Master Task List.  Pick a category and then write one procedure every morning (should not take more than 15 minutes) until you have that category completed and then go on to the next.

At the end of a couple of months, you should have 50 or so procedures in place.  It may not be the completed version but it’s a great start and once you get going on this, you will find it easier and easier to do.

Make this a priority for you and your staff.  If they know it’s a priority, they’ll get it done!

Good luck and email or call me with any questions.

Practice Policies Manual

Everyone knows they need a Practice Policies Manual (aka Procedures or Systems Manual).  We’ve all heard the reasons…compliance, they make your practice more valuable, consistency among staff, assist in turnover situations, etc. but just how do you tackle one?

I suggest my clients break it down to categories first.  For example, portfolio performance.  Take this one category and write down everything that happens with respect to these functions.  The daily feeds, the reconciliation, running returns, billing, etc.  Then, commit 15 minutes every day to writing one policy.

I also suggest you start with the first step in the process and the last step.  The last step should always be a variation on this…the billing is completed successfully with all monies collected and verified.

Don’t try to tackle it all at once.  That is a recipe for failure.  Take it in small pieces and in no time, you will have your manual written.  Then, I suggest everyone in the firm signs off on it verifying they will follow the procedures.  I would also suggest you retain it electronically where everyone in the firm can find it but make them “read only”.  If a procedure needs to be changed, make sure all change go through one person for consistency sake.

Good luck and go get ‘em