Managing A Business: Sometimes It Also Means Managing Yourself!
By Alyanna Therese Tagamolila
As business owners, we always want to ensure that our products and services are the best. With this, we spend countless of hours doing market research, product development, digitalization and assessment of our employees – this is all needed to make sure you continue to run a tightly coordinated well-oiled machine. However, we tend to forget one aspect of the business that should also be assess: how we manage it and run it!
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You’ve built up your business from nothing, that is one great accomplishment that everyone around you – including your employees can attest to. However, building a business is one thing, keeping one is another. Once a business becomes operational, market demands, operations and logistics and even community and national regulations start to play a part on your decisions, and, like it or not, sometimes, it is not you who knows best.
We understand the need and the mother-like protective urge you get when you even think about entrusting the decisions and the responsibility you strongly take on to someone else, we do, but we also know in the long run, your business will benefit from a little constructive self-criticism.
Here’s three ways to make sure that as you check on your business, you are also keeping yourself checked:
1. Listen to your employees, partners, and the people around you.
It’s alright to be determined to follow your solution, opinion and/or idea when approaching a problem your business ran into. However, make sure that when you choose your own idea, that you’ve listened to the ideas of others around you and carefully and objectively assessed that your idea is more sound. More often than not, the people around us provide an unbiased and objective perspective about how your company should be run and an unbiased objective assessment is a priceless one – one that deserves to be lent an ear or two.
2.Never sacrifice employee welfare for anything.
As you go down the road of establishing your business and even business expansion, you’ll realize that it does cost quite a bit of your operational expenses to make sure all your employees’ needs, benefits and desired work conditions are met. With this, never give in to the temptation to cheap out on employee costs just to be able to maximize profit – your employees are your assets and it will never do good to your business to mistreat them. Instead, set up a corporate communication system wherein they have access to you or to be able to relay their thoughts on how their welfare should be handled as well as an avenue for you to reach out to them; this will allow you to compromise with them to ensure you are not spending excessively for their welfare and that they are being heard. Employees who feel that they are being taken care of usually have the most efficient stats and optimal outputs, they’ll be making more and more money for you in no time!
3. Know when to seek professional help.
There will come a time wherein your business gains traction and begins to operate at a scale you were not prepared for during your initial planning. When this time comes, your business knowledge and operational know-how may not be enough to handle the stress (albeit it is good stress!) that your business is under. During this time, we recommend you throw out the gut instinct and the gut decision-making tendency for a while and employ the help of professionals. This is the make-or-break crunch time of your business and allowing the professionals help you make the big decisions and drive your vision further down the road will be the breakthrough that your business will see! Sound planning and decision making is key here and that’s where business consultants such as RBMC consultancy specialize in – making your dreams come true in a way you did not even expect it too.
When it comes to business management, it is best to approach your way of management as an operational process much like your business processes. This way, you can objectively assess yourself, improve what needs to be improved, junk what needs to be replaced and adapt new and timely managerial practices that is sure to benefit your business!