Business Process Help

4 Replies

Haven't been on BP in a while, but thought this would be a good way to refocus. Would anyone be wiling to share resources, templates, examples that could be used to help develop a business process manual?

I'd like to create a kind of internal operating procedure manual for property managers, book keepers, deal analysis, and....myself haha. I see this as more specific than a business plan and something that I could share with partners and employees to help keep us all focused on the important tasks. Any ideas? 

@Chris A. Welcome back to BP!

Your post peaked my interest tonight and it made me chuckle to see that to date you haven't received any replies!  I think it shows that real estate investors aren't the best resource for ideas on how to develop a business process manual - they are great at giving ideas on how to use creative financing strategies, analyze deals, how to build a team and sooo much more but you might have to outsource your question to an expert like a technical write, an HR professional, etc. and then ask RE investors when you have questions about the content of the manual you'd like to write.  

A challenge you face in creating a business process manual for so many different players on your team is that their roles are so different which may require a separate manual for each role....

@Chris A. Everything you asked have been answered in the forums and some of the files are uploaded as well. I would suggest read the forums more and ask specific questions. Open ended questions have too many variables. 

If you get a business coach and be a good student, like take notes and track marketing and sales presentations sold, then in 6 mo hire an acquisition manger to use your "manuals" to market for motivated sellers, you close them.

Tenant buyers and owner financing market for and screen, use a WordPress landing page and use to send you leads

Wholesale buyers use BP and a WordPress site, get a form on your site from jotform.

Get a sales license and get referrals from agents on "long days on the market listings"

Read Michael Gerbers book "Emyth Revisited"

And get to work!

Here goes;

  • Create one page per task; objective at the top and the RESULT you want to achieve at the bottom
  • Define the players; those that actually perform actions to reach your goal(result)
  • Top-down is sometimes difficult, so work backward from the result to the last step take.  Then move backward again to define the action that was required to provide the inputs to the last step
  • continue crawling upward until you reach that point where there is just the objective and then inputs have to be defined

for example:  Creating an invoice:

  1. accounting access to accounts receivable 
  2. account gets the customer info
  3. decide the project or purpose of the invoice
  4. open New Invoice
  5. enter customer info
  6. enter today's date and the date payment is due
  7. itemize the parts & labor on the invoice
  8. enter the terms of payment (DOD, net-10, net-30)
  9. print the invoice / email the invoice
  10. save and close the New Invoice

Print the above and file in your Procedure Manual.

Yeah, that's obvious and trivial but now start on an important procedure that needs to be documented:  Screening Tenant Applications.  This one will have two exit points: Denied & Accept+Offer residence.

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