Are you one of the 72% of organizations and businesses that do not prioritize investing in managerial roles and have chosen to face the unpopular bottom-line implications? This is an information that inexperienced and untrained business managers have the possibility of ruining your business image and the brand itself. It's been proven that most managers struggle to lead their teams effectively which can lead to loss of company profits and many even cost the business more than you realize.
All these are mentioned above to inform you about the great harm, lack of proper business management could cause within the four walls of your company whether it's a startup or running organization. Typically, in most companies and businesses, the employees are promoted and awarded regarding their contributions to the growth of the company but it doesn't mean that they are fit to lead a team. It is very easy to make assumptions falsely because they are active staff and seem to have the capacity, then they should also be capable managers.
Businesses that have chosen to rely on instincts and not facts and experience would most likely crumble without the correct skillset of business management because most companies do not see it as a need of great importance to hire the right business managers for them. This article would help highlight 3 things you should look for while planning to have a manager for your business. If you're a budding business manager, this would prove helpful as well.
The first and rated most important skill of an effective business manager is LEADERSHIP. Leadership is an essential part of managing people and managers must understand that the employees are the core of leading. They must learn to value the employees and make them feel appreciated, in return, the employees would develop a sense of loyalty and commitment to the business and help them work harder at its success.
Many business leaders must understand that leadership is about the people and make it a strong point of building strength for their companies. Making time for the employees would make them feel valued and mentally help them know that the company is interested in their personal life as well. Impromptu calls and team hangouts to help them unwind are a good way to make them know this. Business managers should also ensure that their communication with the employees is a two-way thing.
Getting feedback from employees will get them to share their ideas and participate in discussions that can help the company grow. A good business manager must be a good listener and encourage the employees to be open-minded as regards the company's growth. Research has shown that most employees like a recognition of their hard work and giving out incentives to employees that truly deserve them is a form of reinforcement to put in more work.
The second skill set that every manager is expected to have is SMART PRODUCTIVE WORK HABIT. What truly qualifies smartness is that there are results to show the smart work done. Managers must learn to develop practices and measures that would save time and increase productivity as well. The core element of smart working is time management. Business managers who have not known how to carefully manage their time would fail to qualify as great business managers.
To help business managers pass this test here are a few tips;
Focus on major goals
Prioritizing the goals that you have to achieve daily can help manage your time well. Activities should be listed in the order of their importance and worked upon first then others can follow.
Making a To-Do list
The human brain can not capture every single piece of information so experts have advised that creating a list of all you have to achieve per day and work towards it according to the critical need of the task.
Most business managers have been found to want to be in charge of everything so they don't delegate or delegate just a little which could lead to a slower rate of productivity. To be an effective business manager you must learn to leave some tasks to employees that are capable of carrying them out to accomplish some other tasks as well, this doesn't connote laziness if it's done with consideration of productivity.
The last skill set advised is that a good business manager must be able to MAKE DECISIONS. A good sense of decision-making can not be overemphasized. Decisions must be made based on the right information analytics at the precise time. Information is core to action and exposing the employees to access information about the company would help them work in line with such information and give advice when necessary. People must be able to work on their tasks without having to depend on the business manager.
Business KPIs would provide insight for better decisions that would help gauge the progress made by the company at large. Taking advantage of business intelligence (BI) would help managers discover new opportunities and learn to identify the best decisions for the company. It can help them to be on top of business trends and solve potential problems the company may be facing as a result of poor decision-making.
An extra tip, considering your business manager skillset is Creativity. Every individual interested in running a successful business must understand that creativity is one of the core things. Business managers particularly must strive towards exploring their creative minds to generate ideas that can be acted upon to increase the growth of the organization. The importance of this is to carefully ensure that both the business manager and the other employees working with him are not working under pressure because they want to overtake their competitors. After all, they would soon get tired if they do.
Now you know what to look out for more importantly if your company needs business management or you're a budding business manager, this article has pointed you to the major skills, ensure that you search deeper and improve your skillset.
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