From Chaos to Control: 9 Steps to Building a Better Workflow

One of the questions I often get as an operations specialist is:

How can I set workflows up to positively impact my business?

Or, even more often, I hear:

What is a workflow, anyways?

Workflows are quick ways to begin starting the process of building a solid business and establishing a delegation plan for your team. They help you scale as a solopreneur, and make handing off tasks easier as you continue to grow. 

So, what are workflows, and how can you leverage them for your business? Let’s dive in.

What Is A Workflow?

A workflow is a repeatable set of steps that are completed in sequence over a period of time. Workflows apply in any industry and can be built out for any task (no matter how simple you may think it is!). They allow teams to scale efficiently, and provide a structure for processes that helps ensure a repeatable, exceptional client experience.

The best workflows should have decision trees after each step to include what-if scenarios. Most Fintech CRMs call these “outcomes”. For example, if the step of the workflow is to conduct the client meeting, the decision tree will identify the potential outcome scenarios:

• Meeting Held
• Meeting Rescheduled
• Meeting Canceled

The goal is to pivot the workflow to the next step, dependent on the outcome. 

Why Are They Important?

Small business owners who are also financial planning practitioners often struggle to delegate operations or business back-end tasks to their team. When this happens, they become a bottleneck and prevent growth. You don’t want this to be you! 

Workflows can help you to clarify processes and clearly identify which parts of your business you can delegate to your time. They also help to create an easy way to ensure quality control. By outlining every step you take in a workflow, you can set your team up for success. 

Building Workflows

There are nine steps I recommend following to build a successful workflow. 

Step 1: Gather Data

Your first step is to gather all of the information you need to set up a successful workflow. Most small businesses have many versions of the same procedures. The first goal is to identify how you do what you do – which can be easier said than done! 

It can help to keep your end-goal in mind: if you document everything now, you won’t have to reinvent the wheel later. 

Start an “Operations” folder where you document all of your current Standard Operating Procedures (SOPs). Here is the folder structure we recommend at Level Best:

• 00. Prospecting
• 01. New Client 
• 02. Standard Client Meetings
• 03. Account Servicing
• 04. Service Offerings & Calendar
• 05. Technology & CRM
• 06. Team Structure & Accountability Chart 
• 07. Misc.

A few items to look for might be recurring emails you send during your client journey, past reports and deliverables, and any other client work templates you have. 

Step 2: Write It Out

Next, write out the existing process as you see it. You might synchronize all of the different “versions” of your process, or stick with what you use most often. Now is also a good time to think through how your processes can be improved. You can weed out old materials you no longer use, and save them if you ever want to refer back to old processes. 

While you write out your existing process (or the one you hope to implement moving forward), it can be helpful to tag-team a whiteboarding or mind mapping session. Don’t go it alone! Having a team member, an operations consultant, or even a paraplanner sit in on this process can be immensely helpful to make sure no stone goes unturned. 

Don’t overthink this step. Our job isn’t to assign roles to each step in the process at this point, just to jot down what you do, and in what sequence. 

Step 3: Implement Tech

Look over the process you’ve just written out – where does your tech stack plugin? Write down what systems you use in each step of your process, and how its used. For example, instead of “Collect client information” you might update your process to say “Collect client information using Jotform”. 

Step 4: Identify Collateral

Collateral can be anything from email templates to data gathering forms, to scheduling links. Figure out what’s needed in each step of your process to make it easy and repeatable for you or your team.

Step 5: Find Holes

If you don’t have all the pieces needed to complete the process, that’s okay! Now is the time to identify the holes in your process, and figure out what you need to ensure it flows smoothly. This could mean:

• Technology set up
• Data collection forms in Precise FP or Jotform
• Scheduling links for standard meetings 
• Marketing calendar, graphics, or collateral
• Email templates

Step 6: Delegate

Don’t be afraid to get these tasks off of your plate! Identify what tasks in a workflow or process only you can complete, and look at how your team, outsourced partners, or technology can plug in to take care of the rest. Be intentional about who owns what step in the process so that it’s as repeatable as possible. This is time to review your steps, tasks, supplemental materials, and technology tools to support the process. 

Walk through your workflow step by step and ask yourself these questions:

1. Does this step need to be completed by a person, or can our tech stack help to automate it?
2. If the task needs to be completed by a team member, who is the best person for the job?

Step 7: Implement and Test

Implement the workflow into your CRM, or any other system that will help to run it. This could mean setting up automations through Zapier, or assignment notifications in your project management tool. Before launching your workflow, complete several test runs internally. Have your team work through the workflow to make sure they have the hang of it prior to launch, and don’t be afraid to make revisions.

Step 8: Launch

This is the exciting part! You get to launch your workflow! Make sure your team knows the date the workflow will launch, and what (if any) changes they should anticipate. They should also have a contact person on your team to notify if something goes wrong, or if the workflow needs to be revised.

Step 9: Monitor & Adjust

Once your workflow is launched, your job isn’t done! You and your team need to monitor your processes and technology in an ongoing capacity. I recommend performing annual audits to make sure everything is up to date and optimized for firm growth. 

Need Help?

Do you need assistance auditing your workflows or firm processes? Achieve your Level Best with our consulting services! Learn more about how we can partner with your firm to help you achieve your goals by clicking here.

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