A system is a set of things working together as part of a mechanism or an interconnecting network; a complex whole(Business Dictionary).
Types of system includes Business System, information Technology system, artificial intelligence system, computer system etcetera.
A business system is an independent units or departments interacting with each other as a whole.
Robert Kiyosaki in His book Rich Dad Poor Financial quadrant explained the various income segment
1. Investment
2. Employment
3. Self Employment
4. Business
1. Investment
2. Employment
3. Self Employment
4. Business
However, the best segment is 'business' because it supports system. With a good business structure, the business can function without it owner.
This article will explain the various steps in business an excellent and successful system building, the importance of having a functional system.
Every business is divided into departments or units. Human Resource, marketing and sales, finance, procurement etcetera.
The essence of business system is to make these various units work independently and efficiently even when the owner is unavailable.
Building effective business system is more challenging to small business owners unlike big business that already have a functional system.
Four vital things are required for any business system
A Business
An established business is required to build a successful business system. Every successful entrepreneur has a product(s) or service(s). Its start with a passion to solve problem, create opportunities, make business process easier.
An established business is required to build a successful business system. Every successful entrepreneur has a product(s) or service(s). Its start with a passion to solve problem, create opportunities, make business process easier.
Business Owner
Someone that owns the idea, invest time, money and tirelessly market the idea. A business system thrive with the business founder.
Someone that owns the idea, invest time, money and tirelessly market the idea. A business system thrive with the business founder.
The mistake many business owner make was to try to build a system without them been part of the system especially in the startup phase.
The early stages of the business requires The close supervision of the business owner at least for the first year. The owner can move to another business after successfully created functional units.
Trust
Trust is build over-time. The business owner will have to trust someone to manage the business.
Trust is build over-time. The business owner will have to trust someone to manage the business.
People that have issues with trust can never build a successful business system.
Internal control should be put in place to control fraud.
Leadership
Building successful system requires a good leader. A leader knows how to delegate task.
