Operations Management: Creating a Blueprint for Your Start-Up
Operations Plan: A Blueprint for Running Your Business
Operations management is a key component of almost every business plan. It's a blueprint for running your business, and help you anticipate and plan for contingencies.
Consider the “4 M’s”
Operations management can be broken doen into the 4 M’s, each with its own subcomponents:
- Money: budget, cash flow, financial systems, point-of-sale systems, banking, taxes, and audit
- Methods: policies and procedures
- Machines: equipment, property, leases, insurance, repair and maintenance, and capital replacement
- Manpower: human resources, whether employees or contractors
The operations plan for your business affects all aspects of planning and running your business, from time management to budgeting. The following components should be considered when developing your operations plan.
Featured Product
Package # 7 - Start and Run!
This package will provide you with the information you'll need to plan and start your business right:
- Attend your choice of Start Smart Level 1 or Level 2 seminar
- Choose one book from a selection of 22 titles from the Start and Run Series
- Meet with one of our advisors for a personalized, one-on-one session
Book today! Contact a client services coordinator at (604) 775-5541 or 1-800-667-2272.
See All ProductsSmall Business BC offers a multitude of services to assist you with starting and managing your business.
- You can register for our Start Smart series seminars to learn the basic requirements to start your small business.
- You can book an appointment with one of our business advisors to discuss your business concept and assist you with developing your operations plan.
Keep Your Operations Running Smoothly
Manage the 4 M’s. Ensure you have enough resources in all four areas—money, methods, machines, and manpower—to implement your operations plan. You may need to secure additional funding, hire or contract help, adopt new methods, or add equipment to get the job done.
Budget for contingencies. Don’t forget to account for unforeseen events such as economic upturns/downturns, natural disasters, sickness, and even being more successful than anticipated.
Learn from your mistakes. Monitor your progress and improve your plan and your processes as you go.
Remember your plans are living, evolving documents. Don’t let them just sit on the shelf, collecting dust. Your operations plan is never finished. Keep referring to it and updating it as you grow your business. See our Operations Management—Growing and Exiting sections for guidance.
- Small Business BC Start-Up Kit
- Managing a Successful Business in Canada
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