Policies, Procedures and Systems Grow Stale

How long has it been since you took a look at the policies, procedures and systems in your business? Maybe it hasn’t been long. During pandemic lockdowns and slowdowns, many businesses used that quiet time to review and revise the way they operate. Some revised their methods but didn’t get around to updating documentation.

I have to admit one of my longstanding businesses is in the latter category. Before the pandemic, we had well-defined procedures and policies, thoroughly documented. We still have well-defined procedures and policies, but our documentation is still catching up with changes wrought by the pandemic.

Why is it important for the documentation to catch up?

Remember I mentioned I’ve been quiet here due to a recent acquisition? Well, it’s an example of why. It is also an example of why the value of a business is higher when it has clear, thorough, well documented procedures and policies. My business partners and I are running flat out to put those in place as we wrap our hands around the company and strive to set it going in the direction we want.

The business will not be able to grow beyond a ceiling until we’ve done that. There is a point at which it isn’t enough to have individuals with crucial knowledge and a willingness to repeatedly pull the fat out of the fire. Systems turn chaos into coherent and orderly operations. Systems reduce the need for fire-fighting. Systems make it easier for new hires to understand what they are supposed to do.

We bought a business to grow it. That means we’ve got to set it up with the policies, procedures and systems it needs.