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Add Value by Documenting Your Business

By: Justin Woolich

Copyright 2006 Business Systems Manager

By documenting your business you communicate to your people exactly how your business operates and what work needs to be completed by Employees filling the Positions in your business.

It is vitally important to have your business documented if you are looking to sell your business or looking to secure external funding. Well written and maintained Business Systems and Documentation add great value to your business and will contribute to you getting more money when selling or sourcing external funding.

Important information in your business needs to be recorded and communicated to your employees in a consistent way.

This information should include.
- Strategic Objectives.
- Marketing Plan.
- Company Policies and Procedures.
- Position Contracts.
- Business Systems Documentation.
- Operations Manuals.

Only one version of information should be made available in your business. It is important to have only one version to ensure that all employees have access to the most up to date and consistent information.

You should implement a review schedule for critical documents to ensure that their contents remain pertinent to your businesses current circumstances. Employees who are impacted by the contents of the documents should be alerted to changes to documents that have an impact on their position in the business.

Access to critical documents should be controlled, Documents should be made available only to Employees who require access. You should use a tool that allows you to easily control access to information and allows you to track when changes have been made and who has made the changes.

Documents and Data should be maintained on a secure central server with a data backup and recovery plan in place. Documents should not be stored locally on employee PC’s. The reasons for this are numerous including avoiding the loss of data through hardware failure or theft.

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