Best-practices is a term used in professional spaces to refer to the tried and true methods which proactively fix our business problems.
Sometimes it can feel like everything about the business is a problem. You may start to detach from the “big picture” and feel overwhelmed by your dream of building a legacy. Guided by your emotions, you rush to fix bits and pieces of the business, jumping from here to there. You make some headway, but the doubt within you lingers. Unfortunately, you are not implementing a best business practice. You have not applied a tried and true method to pinpointing your most pressing problem. You are not systematically solving issues, beginning at the foundation of your business. You may want to walk through Mike Michalowicz's ‘Business Hierarchy of Needs’ to identify where you need to focus and the right time to fix it. As an author and entrepreneur, Michalowicz has fashioned a hierarchy of needs centered on tackling issues within a business. He modeled his hierarchy after Maslow’s Hierarchy of Needs. Psychologist Abraham Maslow theorized that humans must first have access to food, water, and shelter before they can access their full, individualized potential as a person, and Michalowicz theorizes that a business owner cannot sustain a legacy without first tending to its other vital needs. The Certified OBM community champions best-practices, and I was introduced to Mike Michalowicz’s methods through our quarterly book club. After reading his book Fix This Next, described as a “diagnostic tool for entrepreneurs,” OBMs are equipped at working with businesses at all levels, though the third level on the hierarchy aligns most closely with what OBMs do.
The third level in the hierarchy is Order. Order refers to a business’ level of organizational efficiency. Establishing Order in your business means that the following core needs are met and the business cannot only survive, but thrive without its owner.
Minimized wasted effort
Best-practices in business promote being systematic, organized, and constructive. As a small business owner, I understand that when an entrepreneur’s survival is on the line, all bets are off. But making an emotionally driven decision may cost you more than you bargained for.
Stay tuned to my blog for more on Michalowicz’s Business Hierarchy of Needs and the best practice of setting measurable goals and evaluating processes. Leave questions and comments below!