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Financially Simple Bizcast

The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Dec 20, 2018

In episode 118 of Financially Simple, Justin looks at what makes for a Good Operations Management System.

A Business’s Management Systems are the fundamental processes that keep a Business running on track. Justin goes over the five core elements of a good and efficient Operations Management System.

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00:23 - The Elements of a Good Operations Management System

00:29 - Clearing out the Chicken Coop

03:13 - The Five Elements

04:22 - 1. Processes and Procedures

05:49 - Streamlining

07:11 - 2. Roles and Responsibilities

08:39 - 3. Tools

12:45 - How much are you wasting?

13:15 - 4. Risk and Safety Controls

15:28 - 5. Metrics and Reporting

16:26 - Baseline Capacity vs. Demand Requirements

18:40 - Reporting Frequency

19:06 - Summary



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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.