Starting up a business is easy but keeping it running for a long time is more difficult. So if you want your business to survive here are some tips:
- Backup plan
Business has a lot of changing factors and problems. So as a manager or employer always think five steps ahead of the current situation of your business. So always think about the different possibilities that might happen in your business. Prepare a lot of solutions from the different scenarios that you might face.
- Make sure that the new employees would fit the organization:
There are thousands of employees looking for a job but only few would be qualified in your team. Managing is hiring the people that would truly fit with your business and goals of your business. Have employees that will make your business prosper and successful.
- If business is good, still look for new opportunities
Managing the business requires the business to have the latest products and services. Always think what is good for your business and try to seek for more opportunities so that your business would stretch and be known worldwide. Try to set an open eye of what do you want your business to be in the future.
- Recognize when it is time to cut your losses:
So when your business is not doing let the manager deal with difficult decisions or solve problems. By dealing with the tough decision it is then that you can become a successful one. So even if you don’t like that decision that you make for your company but you know it’s the best decision then go for it. By having the ability to take the right but hard decision it is an essential element of successful management.
- Do not overlook special teams:
Business trends are always changing you may have a good business today but how about tomorrow. So don’t expect that your company will always be the no.1 in the market trend. Remembers that competitors are also watching your company so don’t underestimate them.
- Try to know what motivates each employee:
Observe and try to know what motivates your employees. Know your team and see what kind of motivation you could get from every member.
In managing your business, company or your employees you got to have management functions that are in the different levels with the different managerial roles. There are three types of management roles that all of us must know because these three roles are important to have a good business.
These three major types are decisional, interpersonal, and informational.
A decisional role is when a manager assigns resources on developing new goods and services to expand a business. The top managers mostly hold these roles. Most top managers deal with a lot of problems with major crisis in the company such as bad service or defective products. Some entry-level managers may negotiate with the employees regarding the issue of salary increases or overtime hours. While top managers negotiate with large issues such as acquisitions of other companies.
Interpersonal Roles is when the manager supervise the employees in the organization or workplace. Middle manager is usually in this category. This manager may help organize goals to the employees for their appointments or meetings.
Informational Roles – this is the part wherein managers will transmit information. Monitors will evaluate the performance of others and take corrective action to improve performance. Monitoring occurs at all levels of management. The role of disseminator requires that all managers must inform or let their employees know the changes that affect them and the organization.
So whatever roles your manager is doing make sure that you let your employees know and at the same time communicate with them.
For a business to be successful everyone should coordinate with the team members and leaders. Coordination must exist first or else there would be no organization. There should be coordination with the employees to reach the goals of the company. For an organization to exist it has to have a goal. But for you to identify the goal of the company it requires a lot of planning and thinking. You have to identify the problems and strategies.
Having a proper communication to reach the goals of the company means tracking and monitoring the different activities and decisions about what to do is the important of management coordination.
Some methods of coordinating
-Administrative Controls. Organizations must have the proper documents that include titles and dates. Computers have administrative controls by using some project management software, human resource systems and office software. An organization has a lot of financial reports, project reports and so much more.
- Delegation is when you are trying to get things done together with the other employees in the company. Delegating is giving the responsibility to an employee to finish the task and letting him/her decide on how to do the task. The person delegating the task ensures that the task is completed and made properly.
Evaluation is when you are analyzing the information in order to have a decision. Evaluating the employees performances, marketing efforts, goals, outcomes, processes and so much more.
-Financial Statements when a company has goals and strategies then funds are set aside to accomplish goals and tasks. Reviewing the financial statements is one way of monitoring the progress of the plans.
-Performance Management means focusing on the performance of the organization including the process and employees. Some supervisors have a performance review for some employees to communicate about goals and how it is done.
-Policies and Procedures help the workplace to be in good working atmosphere. Procedures are list of activities required to do to finish a task.
-Quality Control and Operations Management is monitoring and measuring the results and adjust it as necessary. It also includes programs such as Total Quality Management, ISO9000, Balanced Scorecard, etc. Operations management includes the activities in developing, producing and distributing products and services.
-Risk, Safety and Liabilities is giving activities that help minimize the risk and liabilities and safety of employees.
Coordinating and controlling are important things to consider for the success of a company or organization.