As a business owner, it’s important to define and manage all the business functions that need to be performed for your business to be successful. These functions can be divided into two categories: core functions and non-core functions.
Core functions are those that are essential to your business and cannot be outsourced. Non-core functions are those that can be outsourced to other businesses that specialize in them.
It’s important to identify your core functions and make sure that you have the right people and processes in place to execute them effectively. You can then outsource your non-core functions to free up your time and resources to focus on your core business.
By defining and managing your business functions effectively, you can improve your financial performance, accelerate growth, and build lasting value.
Here are some additional tips for managing your business functions:
By following these tips, you can ensure that your business functions are well-managed and that you are maximizing your resources to achieve your business goals.
Watch the video below:
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The video, hosted by Dave Wilkins from Wolverine Business Solutions, focuses on the importance of building a “moat” around a business, a concept often used by Warren Buffett to describe a company’s competitive advantage or barrier to entry in the market. Wilkins emphasizes that having a deep and wide competitive