Entrepreneurs have their hands full when first starting a business, from creating an effective financial plan to drumming up enough funding to get everything off the ground. That is why they might not be totally prepared when it comes time to manage those initial employees.
However, one key to a successful startup is a great manager, and that duty often falls on the owner at the beginning. If this sounds like a daunting task, there is no need to worry. Most incredible leaders didn't start out that way, and their skills are some that have to be learned over time.
In order to get on the right track toward becoming the perfect small business manager and owner, here are four easy tricks:
1. Never stop learning
Even at the top of a company, managers can never stop learning, according to Entrepreneur magazine. Whether it has to do with business banking, the hiring process or any other aspect, there are always others who can provide vital insights into the details. So, small business owners tasked with managing their first firm have to always be looking for ways to improve. Find a few people who can help, and ask a lot of questions to develop into a better professional.
2. Set clear goals
A small business will go nowhere without clear goals and a sound financial plan. As Entrepreneur magazine noted, a lack of alignment and clarity here can disrupt the effectiveness and productivity of the company. Establishing a direction that is in line with the mission statement takes collaboration and an entire team effort. Take the time to study financial metrics and discuss possible money management and marketing options with other business leaders.
3. Manage time better
Small business owners have to be able to control their time as well as their employees'. According to Forbes, this aspect is underrated when it comes to managing a company, and most leaders spend a lot of their day running between too many tasks and requests. Instead, it's recommended they narrow everything down and identify what is a top priority. This will help maintain a clear focus and ensure that everything is operating smoothly.
4. Communicate on schedule
One of the hallmarks of bad leadership is a lack of communication skills. Forbes stressed that being able to hone this craft is a must for any business owner. For example, managers have to respond to requests and complaints quickly, as well as offer feedback in a reasonable amount of time. Those who don't make themselves available to the company could be creating additional problems.