When you start a business and undertake the role of business manager, you may not be completely aware of what you’re getting yourself into. And that’s not to say that you don’t have the qualities of a great business manager, but there will always be room for improvement. If you want your business to grow, you’re going to have to grow too.
There are a few things you can improve and skills you can develop to become a better business manager. You must just understand that growth takes time and effort, but it’s always worth it.
Master being a mentor
Managing a business isn’t always about delegating, making the tough decisions or knowing about everything that goes on in the business. In fact, it’s because of all these responsibilities that you need to be a mentor to your employees as well.
Mentorship in the business world of today is of vital importance to the development of industries and the incoming worker generation. You are the head of the business and your valuable knowledge and experience got you there. It’s admirable to your employees and they also deserve the opportunity to learn from someone “in the know”.
The mentor-mentee relationship encourages growth for both parties as each person has insight to offer. As the business manager, you will experience how the business will benefit from your undertaking of the mentor role. Productivity, inspiration and confidence in the employee will increase and the company (and employee) will be better off for it.
Hire for success
Recruitment can be a tricky process, especially when it comes to hiring people in a role similar to that of your own. In some cases, you will need to swallow your pride and hire the person who is qualified, confident, experienced and perfect for the job. Even if they pose a “threat” to your position in your company or know more than you do.
This is how you hire for success. You recruit the best and watch how they help your business meet its goals. And there’s no harm in being able to learn a thing or two from an employee. Everyone in the business should have a team mentality and that includes you. Just because you are the business manager, doesn’t mean you can’t learn new things or hire people who could possibly do your job over time.
Hire with success in mind and your business will benefit.
Learn to lead
Talking about the team dynamics of the business, you won’t be able to achieve that without learning how to lead. Manager, mentor, leader – a lot of roles, but all are necessary. Without leadership qualities, none of it will come together.
Through leadership, you will develop your team, motivate your employees and ensure that everyone is accountable for their work and headed in the same direction. If you take a business management course, you know, just to refresh your management ability, you’ll have an industrial psychology module that will assist in the leader and mentor role of being a business manager.
Enhance your communication skills
You wouldn’t have put yourself in this managerial position if you couldn’t communicate. But, again, there is always room to improve and communication is an important department in a business. Suppliers, clients, employees, partners and shareholders are a few of the relationships you’ll be dealing with which will require clear communication and the ability to listen to others. An aspect of communication you need to consider, improve and put into practice is understanding that you’re working with people. People who are emotional beings with their own personalities and ways of interpreting messages. And that might require different methods and manners of communication when it comes to nurturing these different relationships.
For example, the way you communicate with clients and the way you communicate internally through the office, will be completely different. You need to establish essential communication rules and standards that can be followed by the company as a whole. This will ensure that the business speaks with one voice and sends out consistent messages to external parties. And that, essentially, establishes brand reputation. So, needless to say, communication is important.
Make smart financial decisions
You may have hired someone to take charge of the company’s finances, but that shouldn’t take you out of the financial side of the business entirely. You still have financial decisions that need to be carried out. Knowing how the business is doing will lead to either hiring or letting employees go, expand or upgrade business processes. Basically, you need to find innovative ways to use profit to the benefit of the business and know when to make the hard calls when there is no profit.
Whether you have a finance person or not, you need to manage business money or at least have a strong understanding of profit, expenses and the overall financial health of the business. You’ll be a better business manager by putting the company’s best interest at heart through the care of your employees and having a grip on all business departments.