As we mentioned in prior blogs, getting your business on the right track from the start is very important. You might be starting by yourself, however as you continue to unfold in your start up journey – you will soon realize that you will need to hire and maintain employees.
Step 1: Minimize the risk of waste.
As a manager, you will be responsible for ensuring the work is accomplishing efficiency and effectivity. While this can be tricky, you are ensuring that no resources: time, material, money, etc. are being wasted. Your goal is to minimize the risk of waste to grow your business with high efficiency and goal attainment.
As a sole proprietor, this might be difficult, being that you need to manage sales presentation, invoices, marketing, and keeping up with your finance. But you can do it!
Step 2: Understand where you are heading!
You are responsible for planning the direction of your business. You will need to brainstorm before leading a team on the purpose of the firm, the objectives (per quarter, per year, short term vs. long term). Lack of understanding your direction of the company will lead to waste of valuable resources that can place you out of business. The process of planning the course of your business can be time-consuming, but well worth it. In essence, as the entrepreneur, you are creating your goals and priorities based on the vision of the business.
Awesome articles to read:
- Creating a 1-Page Quarterly Action Plan for Your Business
You can’t expect what you have not planned.
Step 3: Lead your team!
Have you identified which type of leader you wish to be in your business? While many articles written to date are in regards to best kind: mentors, coaches, etc. You will need to find a style that fits your authenticity. Remember though; you must be flexible to understand your team and meet them half way with your leadership skills. You will need to motivate, inspire, empower, challenge and encourage your team often. Long over are the days of autocratic leadership style.
As a manager, you will need technical skills, human skills, and conceptual skills.
• Technical Skills: Knowledge and ability to accomplish a task
• Human Skills: ability to work with individuals and groups
• Conceptual Skills: understanding complex situations and deciphering solutions
Step 4: Monitor, Monitor, Monitor!
Lastly, continue to observe and monitor key performance indicators as much as possible. You can do so by analyzing the sales of the month, the hits on your website, the performance of your employees, and possibly feedback that you have received on your style of leadership.
Monitoring is the essence of determining what is working and what is not and how to make it better. Understanding the errors and opportunities, not as a weakness but opportunities to grow the business.
At times you may have to make difficult decisions: this website needs content change, we required further training, we need to terminate bad apples in the company, etc. all for the objectives of the business.
This is all part of the journey of the entrepreneur! All in a day’s work!
Best of Luck!