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Managing For Success

Managing For Success

Many people startup in business believing that if they put all of their energy into their business then it will ultimately be a success, however what they are lacking is management. It is important to manage 3 very important, but distinctly different, areas. These 3 important areas to consider when you are managing for success and these are:

  1. Managing Your Mindset
  2. Managing Your Team
  3. Managing Your Business

Before I go any further let me explain that even if you have just started out, and the only person in your business is you, then you still have a team to manage it’s just that the team size is 1.

Managing Your Mindset

This is the first area to consider when managing for success, yet is probably the most neglected area and the main reason for most both business failures, and for those that never achieve their true potential. The simple fact is that if your business isn’t doing well then it isn’t the governments fault, it isn’t down to bad luck, or any other excuse you could mention, it is down to you as the owner. Your business can only grow when you personally grow, you need to constantly push your boundaries and challenge your existing beliefs.  When I ask some clients to describe a salesman some immediately respond with used car salesman, double glazing salesman or some equally dubious character and because they don’t want to be perceived badly they have difficulty being the salesman, yet a good salesman listens to the customer, explains the different options and helps their customer find the right product for them. For others it is a lack of confidence in their abilities, yet often they have most of the knowledge to succeed, just because you don’t know how to do something now doesn’t mean that you can’t learn how to do it in the future.

Being in business isn’t purely about making money, it is about creating a lifestyle for yourself and your family. The skill comes in breaking down the barriers that are stopping you being successful and creating the correct work / life balance along the way so that you can enjoy your success.

Managing Your Team

This is the second area to consider when managing for success, remember that if you own your own business then you are by definition the business leader even if you are only at this stage managing yourself. It is your job to manage the people who perform each task in your business, to motivate them, to build their skills, to encourage good communication, and to provide the drive and direction that you want the business to take. A happy workforce that feels part of a team will solve any problem quicker and cheaper then any group of individuals controlled by a rod of iron. Also the high cost of recruiting new people and the associated inefficiencies during their learning curve can put a drain on even the most cost effective business. Building your team isn’t as simple as employing the person with the best CV, people are individuals and you need a mix of personalities within your team as well as building a group that will work well together.

It is essential that you know your team, that you develop your team, you look to improve their jobs, motivate them, and manage conflict if you want what is often termed your companies most important asset to work efficiently and effectively.

Managing Your Business

This last area to consider when managing for success, this the ONLY part that most people think about when someone mentions the word management. Whilst it is an essential part in creating a successful business it needs the catalyst of the previous two management sections if your business is going to grow. This section is about creating plans and goals for your business as well as testing and measuring your progress along the way. It is about creating your business strategies, defining your target markets, building and establishing your brand image for your business, controlling your costs, distributing your profits. It is about creating the business systems within your business so that the business business is able to work without you being there 100% of the time, which also enables you to be able to sell the business in the future if you desire.

You can create a business that is fun to be involved with, or one that is simply a grind i.e. one that you simply have a job within, which one you create is up to you !