How Proper Process Mapping and Fractional COO Services Can Transform Your Business

---

In a recent episode of the “Getting the Deal Done” podcast, hosts John Martinka and Joshua Monge explored a range of topics related to empowering business owners to step away from day-to-day operations and prepare their businesses for future transitions, including potential sales. Joshua Monge, an advisor and fractional Chief Operating Officer (COO), shared his valuable insights and real-world examples of how business owners can optimize their operations and unlock greater value.

Sequence of Topics Covered

1. Introduction
   • Host: John Martinka
   • Guest: Joshua Monhe
   • Focus: Helping business owners work on their business instead of in it.
2. Empowering Business Owners to Step Away
   • Initial conversation to recognize workload and complexity.
   • Example: Interior designer struggling to surpass a million in revenue.
     • Sales process for converting the client.
     • Process mapping to streamline administrative tasks.
     • Success: Hiring an admin to free up the owner’s time.
3. Identifying Tasks Below Pay Grade
   • Cody Sanchez’s advice on needing an admin.
   • Importance of delegating low-value tasks to improve efficiency.
4. Benefits of Freeing Up Owners’ Time
   • Increased business generation and free time.
   • Importance of downtime for creativity and inspiration for business owners.
5. Target Business Types and Sizes
   • Ideal revenue range: $500,000 to $10 million.
6. Role of a Fractional Chief Operating Officer (COO)
   • Assistance at the executive level.
   • Improving company operations from top-down.
   • Helping CEOs focus on their strengths.
   • Honest conversations about bottlenecks usually caused by CEOs.
7. Ready for Sale: Importance and Benefits
   • Preparing for unforeseen life events.
   • Example of a successful sale due to readiness.
   • Ongoing activities to maintain readiness for sale.
8. Process Mapping and Intellectual Property (IP)
   • Identifying unique processes and competitive advantages.
   • Detailed breakdown of process mapping.
     • Lanes, tasks, and time association.
     • Use of visualization for better job descriptions and efficiency.
   • IP as a valuable asset.
   • Tracking time and cost for each process step.
9. Challenges of Implementing Process Mapping
   • Business owners’ lack of interest in operational details.
   • Example of process breakdown and efficiency improvement.
10. Embracing Technology
    • The need for tech adaptation in business processes.
    • Example of modern booking systems vs. traditional phone calls.
    • Younger buyers’ affinity for technology.
    • Opportunities in integrating technology into traditional businesses.
11. Summary and Conclusion
    • Signs of potential opportunities in the market.
    • Importance of readiness and updating business models.
    • Joshua Monhe’s company: ThinkAdaptBuild.
    • Final thoughts on selling businesses and community impact.

Recognizing Complexity in Growing Businesses

Every successful business begins with a simple idea, often driven by the founder’s passion and expertise. However, as the business grows, it becomes increasingly complex. Business owners find themselves wearing multiple hats, which can lead to inefficiencies and burnout.

Joshua Monge highlighted the importance of recognizing this growing complexity. Using an example of an interior designer who struggled to break the $1 million revenue mark, Joshua explained how having a candid conversation about the numerous hats worn by the business owner often helps in setting the stage for change. Once business owners understand the complexity, they are more prepared to address it.

The Power of Process Mapping

One of the key techniques Joshua uses to help business owners transform their operations is process mapping. This involves documenting and visualizing every step of the business process, from initial client contact to project completion. Joshua illustrated this with a compelling example. He worked with an interior designer to create process maps that captured her workflow in detail.

Initially, the designer was resistant to assigning tasks to an administrative assistant, but the visual clarity provided by the process maps helped her see the administrative burden she was shouldering. By reallocating these tasks to an admin, she reclaimed around 20 hours per week. This freed up time allowed her to focus on growth initiatives, like expanding her showroom, demonstrating how efficient process mapping can directly contribute to business growth.

Understanding the Role of a Fractional COO

For many small to mid-sized businesses, hiring a full-time Chief Operating Officer (COO) is not feasible. Joshua offers an alternative: fractional COO services. Acting as a part-time COO, Joshua provides C-level oversight without the full-time expense, analyzing operations from a top-down perspective to identify bottlenecks and inefficiencies.

Joshua’s role includes guiding CEOs to focus on high-value tasks, delegating responsibilities appropriately, and building a strong organizational structure. He emphasized the importance of having honest conversations with CEOs, who are often the bottlenecks themselves. By addressing this, Joshua helps businesses operate more smoothly and ensures that the team has clear objectives and responsibilities.

Preparing Your Business for Sale – Even If You’re Not Selling Yet

One of the standout points from the podcast was the importance of preparing a business for sale—even if there’s no immediate intention to sell. Life is unpredictable, and sudden events like health issues, family crises, or even unsolicited buyout offers can necessitate a quick sale. Having a business ready for sale means having well-documented processes, a clear organizational structure, and strong operational efficiency.

As John Martinka noted, businesses that aren’t ready for sale often face valuation challenges. Business owners need to ensure that their operations can run independently of them, turning the business into a valuable asset rather than a high-paying job. This concept aligns with Joshua’s aim to build businesses that are sustainable and scalable.

Embracing Technology for Competitive Advantage

In the rapidly evolving business landscape, leveraging technology is no longer optional—it’s crucial for survival and growth. Joshua noted that many business owners, especially those from older generations, are hesitant to adopt new technologies. However, he emphasized how embracing technology can provide a significant competitive advantage.

For instance, automating appointment bookings and client interactions can vastly improve efficiency and customer satisfaction. Younger business buyers, familiar with technological solutions, often see traditional operations as opportunities for improvement. Transforming a traditionally run business through technology can unlock enormous potential, both in terms of revenue and operational efficiency.

Conclusion

The insights shared by Joshua Monge in the “Getting the Deal Done” podcast underscore the importance of operational efficiency, strategic delegation, and readiness for life’s uncertainties in building a successful business. Whether through process mapping, fractional COO services, or embracing technology, business owners have the tools they need to transform their operations and prepare for future opportunities.

By taking these proactive steps, business owners can ensure they are working on their business, not just in it, creating a sustainable and valuable enterprise ready for whatever the future holds.

---

About Getting the Deal Done

Contact Information

John Martinka 
425-533-4577
PO Box 3085, Kirkland, WA 98083 

www.martinkaconsulting.com 

www.nokomisadvisory.com

@johnmartinka
https://www.youtube.com/c/JohnAMartinka/videos

https://gddpodcast.buzzsprout.com