Business Management Tips

March 14, 2013 | By More


Tips for Managing your Business

One of the first things I recommend doing is creating a system on how to manage your business. Let’s be honest when you start a business from scratch, there is a high possibility that you have some weaknesses in the one or other field of managing your time and your business effectively. It helps tremendously to be aware of the different areas where management is needed and create an early administrative backbone of your company. Once you get busy you won’t have the time anymore to implement strategies and chaos is preprogrammed.

Business Management TipsPeople have different talents and we are tempted to concentrate on the things which we do well and which seem effortless to do. Unfortunately there are many areas which require management and if we do not pay attention to them they will cause us headaches later on. So sit down at the beginning and outlay a plan on where attention is needed, when you start your business it is likely that you are the business owner, the manager, the accountant, the administrator, the sales person, the marketing person, the web designer, the SEO and social media person, the receptionist, the maintenance men, the cleaning person and of course the person who does customer service and is the go to person for all questions and concerns. Did I forget anything?  Amazing is it not, we don’t realize how much work there actually is and it is absolutely overwhelming if you become first aware of it. Anyhow, once you break them down in little task and organize them, they will not bother you anymore.
 

Here are some business management tips which have been proven to work well.

 

  1. Get Organized and Plan

Before you even start selling or advertising, get organized, make a complete list of all the above jobs and become clear in writing, who does what, where and when. By now it is clear that you cannot be the one who can own 10-15 jobs in your company. You might try at the beginning, but once you become aware that after many 16 hour days you will burn out quickly, you realize you just cannot do everything. Make that list and find people who can help you, particularly at the beginning.

 

  1. Delegate, delegate and delegate some more

    Master delegation, the earlier on the better. Sure particularly at the start we think we are needed to handle everything and of course nobody can do it better than ourselves right? That might be true, but it does not matter, it does not have to be as perfect as you do it, it just has to get done and it can be done by everybody who is willing and able to do the job.

 

  1. Outsource

    One of the most powerful things in business management nowadays is that you can outsource many micro jobs so easily. You do not need a full time accountant or a full time person to answer your phone, many administrative task can be outsourced to one virtual assistant which only works for you a certain amount of hours per week. I personally love outsourcing, as I do not have to deal with employment contracts, payroll, insurance, sick days and all other employee related problems. Find a good virtual assistant and get many of your jobs done for a fraction of the price a regular employee would cost you. You can find some information on virtual offices, virtual assistant and live phone answering services by clicking here.

 

  1. Be clear in your expectations and job description

    If you do not want to get frustrated and do not want to deal with disappointment later on, be clear about how you want to have the job done. This is part of your homework, do just not expect that a person knows what is needed. Have a job description written for each of the jobs you outsource and for each employee you hire full time. The more specific you are the less you have to worry about it later. A clear job description will shorten the training phase, as well as make sure that the person who does the job knows, and does not have to guess or find out by themselves how you expect the job to be done.

 

  1. Built strong Teams

    Many business related task require more than one person to work on a project, built strong teams which have a formal and informal leader, again be clear in your expectations, breaking down the work related task will make your management job easier and more effective. If teams are required part of the management responsibilities are delegated to the team leaders, which will free up time for you.

     

  2. Supervise

    Delegation does not mean you are free of your responsibility as the boss or manager, own that position, people want leadership and they will follow and respect someone who is present, cares has integrity and shows authority by character. Supervision creates respect and loyalty, add a personal touch, now the names and stories of the people you work with and you will have a team who loves to work for you and will increase the productivity of your company. Keep in mind that you will catch more flies with sugar than with vinegar. You do not have to inflict fear to achieve results, you will always to better long term if you take time to acknowledge and understand the needs of your team. Set clear goals and deadlines for any task you give, have reports created or given verbally to monitor the progress and expected completion. Correct and adjust if necessary.

     

  3. Manage your time

    As much as it is important to manage people and projects it is also vital to maintain proper management of your own time. Remember what I said about the definition of an entrepreneur? “Built a functional enterprise which works . . . without you”. The ultimate goal of the above Business Management Tips is to free up time for you to work on your business and not in your business.

 

  1. Set Goals, review and correct often

    In order to grow your company you consistently must set goals, monitor, review and correct as many times as necessary to reach them. A goal sets expectations, creates a vision which can be shared with your team. Be passionate about the development and the future of your company and you will set people on fire to follow you and accomplish any goal you expect. Let the magic happen, step away and see your company evolve to a level which now only needs little managing effort by yourself.

Tags: ,

Category: Management related, Starting and building a business

carsten@officentos.com'

About the Author ()

Comments are closed.