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Increase Your Profits Through Better Business Management
Posted by Riv Schoel in Business
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All businesses, whether they be a mom and pop general store or a multinational conglomerate, require judicious and agile management. The administration of your business is often akin to conducting a well tuned symphony. There isn’t a company on the planet which doesn’t have room for improved business management.
There are those of us who are born with leadership in the blood. They possess an innate ability to assume the mantle of a leader and effectively manage and motivate those who come under their domain. And then there are the remaining 99% of us. For most, managing others is a skill honed over a lifetime, but never quite perfected. Effective administration of your staff and business requires diverse abilities and a depth of related knowledge.
Although the buzzwords have evolved from “winning friends and influencing people” of the early 1900’s to todays “social networking”, the core tenets of management have remained surprisingly similar and simple. Experts and pundits dress it up within catchy phrases and slick powerpoints. However, the most important elements of managing can be derived from simple common sense. The first obvious, but little followed, rule is to put yourself in the shoes of your employee.
How would you perceive yourself as a boss should you have to work for yourself? This is an important reflection all managers should ponder. Most, however, remain focused on their own needs and problems ignoring the perspective of those working under them. This often proves to be a critical business mistake leading to staff disloyalty. Once you have lost the respect and loyalty of your employees, your mission becomes close to impossible.
In war, the highest casualty rate is often suffered by tank commanders. This is because in most armies they lead from the front and are the first to be exposed to enemy fire. In many respects, commerce can draw analogies from war. A good manager leads from the front. No task should be viewed as being beneath them. If the battle becomes intense, the manager should be out front and not hiding behind his staff allocating blame to cover their own behind. Through time, all great managers have maintained this leadership style and consequently retained loyal, hardworking staff devoted to the success of the venture.
Communication is critical within any corporate setting. Most of you reading this have experienced working for a boss who was less than ideal in terms of communicating with employees. Significant time and resources can be squandered when your team proceeds in the wrong direction because you failed to effectively communicate the game plan.
Just as there are myriad styles of parenting when it comes to disciplining a child, there exists an equal number of philosophies regarding employee discipline. You look at the important presentation put on your desk for last minute review and see your consulting proposal referring to your firm as “Leaders in Businessmanagement”. Your first instinct is probably to run out of your office screaming at the party in charge of editing. This may prove cathartic, but it ends up being counterproductive in the end. Doling out discipline behind closed doors is just one small tenet of effective staff management within a long list.
An effective manager wears many hats. At points they must play the part of disciplinarian vice principal. Other times they are a financial analyst. They often must become experts in subjects ranging from telecommunication plans to office lease rates. The realm of knowledge required for successful business management often can seem limitless. The best managers never stop studying, learning and attempting to continuously upgrade their techniques.
There are many available resources for managers seeking to expand their knowledge base. Today, many of these are online at no charge. There are also many books, ebooks, guides, and videos well worth their cost. A mentor who can guide you through difficult times can also prove to be a critical resource. The most important first step is recognition on your part that there always exists more to learn and to keep your mind open to new ideas and philosophies of business management.
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