Small Business Path to Excellence: The Money

For long, the continuous improvement journey to operational excellence has been a thing for large corporation however small businesses are in as much need to ensure a steady growth. Our proprietary Small Business Path to Excellence Series tailors the continuous improvement journey to small businesses zooming on 6 operational areas. In these series, we will address the various foundational elements that ensure optimal day to day operations. By working towards operational excellence in your business you will create an entity which is able to grow exponentially and efficiently.

So what is operational excellence and how can you incorporate it into your business today?

Operational excellence is a difficult term to describe. A definition by the Institute of Operational Excellence states that operational excellence is when each and every employee can see the flow of value to the customer, and fix that flow before it breaks down. It is a continuous journey within a business which focuses on the constant improvement of their processes and procedures incrementally. Michael J. Fox once remarked, “I am careful not to confuse excellence with perfection. Excellence, I can reach for; perfection is God’s business.”

Topic: The Money

Small business owners are often not accountants—and they don’t need to be. But they do need to get a handle on their business’s finances. Learn about how the three most important financial statements can help you make better decisions.