Lessons With #AskAsh - Week 17: Document NOW, not later
Warren Buffett recently named a successor to his company, Berkshire Holdings (see article). While Mr. Buffett has given no indication as to when this will happen, I started studying this idea of succession planning. Imagine, you are at a point in business where you start to think of new ventures and new ideas. The question becomes, do you just shut down your business and start a new one or could you create a succession plan for the legacy of what you are building?
One of the key aspects of succession planning is transferring institutional knowledge and documenting processes. How many of us know of the 30-year career vet that announces they are retiring next week or next month? and what often happens is that companies don't plan for the future - in terms of capturing that institutional knowledge.
So I am urging myself ( and YOU), to get really serious about documenting in your business. It doesn't have to start when you get momentum or when you are 10 years in business. START NOW.
Check out this clip on Documentation.
A question that I get most often is: what tools should I use to document?
Answer: Use what's in your hands.
No really, literally use what you got. But for the purposes of giving you an article, here are few resources:
- Google Drive + Google Docs: Who doesn't love a free tool and resource? Google Drive and Docs are a solid option to build out your Standard Operating Procedures.
- ClickUp Docs: A perfect way to create native documentation that connects to your projects and your processes.
- Asana + Google Drive (& Google Docs): A perfect combination to integrate your processes like employee onboarding and your documented process.
- Loom Video: Who doesn't love a quick video tutorial? Loom is a perfect way for you to visualize your step-by-step process. PLUS, you can start for free.
Interested in how to incorporate documentation in your business? Send me a message!