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Business systems equal freedom

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Business systems, whether they be comprehensive or a rough framework of business operations, are the key to escaping the daily slug of your business. And when it comes to growing and developing your business, the only way to do so is to work on it, rather than in it.

Nicole Rajkovic, owner of Pengar Finance, a successful mortgage brokerage in Sydney, understood the importance of business systems, before she’d even set up shop.

“In having good systems and procedures and having key specialists, that meant that I could focus on the customers, new business, business relationships, marketing and ensuring the team worked well together,” she says.

Before operations had even begun in 2007, Rajkovic had set up the skeletal framework for Pengar Finance. Though she admits it wasn’t perfect, she understood the importance of having solid business systems in place before she began interacting with customers.

“I really was totally focused on getting all the policies and procedures in place so when I engaged [staff], they knew the systems they were working with,” she says. “It is really difficult to have people change… I had the opportunity to start from scratch.”

With a background working in businesses ranging from small to multinational, Rajkovic understands the importance of structured policies and business systems. “I’ve seen the actual advantages, cost-saving efficiencies and marked improvement in customer service delivered,” she says.

“That was the starting point of setting up. In May 2007, once I had that bedded down 90 per cent, I put my first employee on as an analyst.

“I’m not so cocky to think that it was perfect… I say [to staff] this is the way I’ve set out my procedures but please, if they’re wrong or you have a better idea, let me know,” she says. “Empowering your staff to contribute is invaluable to the growth and development of your business.”

Currently managing two employees and two contractors under the Pengar Finance banner, she notes that constant analysis, both of yourself as a leader and your staff, is key in developing the business.

“Define what you are good at, what you intend to focus on in your business,” she advises. “Be honest about your weaknesses and put business systems and staff in place to mitigate these.”

Though confident in her decisions, Rajkovic insists it is essential to identify areas of weaknesses and seek external help to assist in this. “Don’t expect, always inspect” is her motto and one that she puts into practice.

“Always say you don’t know what you don’t know,” she says. “My background of working in a wide range of small business and… public companies gave me a really good start in terms of assuming nothing.”

With a keen eye and commitment to strong leadership, Rajkovic has steered Pengar Finance through the tough years of economic crisis. She says that success has come from determination, strength and the meticulous creation of business systems.

So, if you’re looking to work on your business rather than being stuck in it, book in for a complimentary business assessment today with Switzer Business Coaching

Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.

Published on: Monday, August 23, 2010

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