System addict

Man realising what his business has been missing

Do you remember that Five Star song 'System Addict'  from the eighties?! (Showing my age aren't I?) I used to think they were saying 'Systematic'. And it's this phrase that is now beginning to regularly run round my mind when I consider what I need to do to create a business that will work smoothly and cost-effectively.

If you look at any well-run business, there is a system in place. It may be hamburgers, clothes, cars or paint - whatever the product, if the business is to be successful, you must develop a system to ensure the fastest and most effective way of getting the product into the customers hands, and getting the customer's money into your hands!

Although property is not exactly a commodity, nor is it a product, I still consider what I'm doing to be developing a business. There is a transaction between myself and the tenants; there is a contract; there are responsibilities on either side. If I am professional, organised, law-abiding, ethical and also nice (a four-letter word not often used by tenants) then I know that I am presenting the business in the right way. After all, in sales you learn that 'people buy people first'. Right now, I am the face of my business. So I need tenants to 'buy me' first.

After that though, there needs to be a system to underpin all that I'm doing. Otherwise paperwork will get lost, deposits won't be filed on time and in the right place (the DPS) and I won't know when rents are due and tenancies have elapsed. Without these important pieces of information logged and routinised (is that a word?) I could easily miss vital actions such as chasing rent arrears or repaying deposits.

I am NOT someone who a) enjoys creating systems (nor is very good at it either - probably because I don't like it) and b) is very good at sticking to systems (it all seems so repetitive and frankly, dull). But I know that right now, just like cleaning my teeth twice a day, I have to develop workable and effective systems to make this business effective. So, Five Star - I doubt I'll ever be a SYSTEM ADDICT - but perhaps I can be a bit more SYSTEMATIC.

(Another helpful article can be found here: http://www.boxtheorygold.com/blog/bid/18628/Six-Qualities-of-Highly-Effective-Business-Systems)