Thursday, March 29, 2012

How to Manage and Stay in the Business

What makes business stay in business? Efficiency and effectiveness? Leadership style? All these and more are sure to bring success to a business in general. A person who manage a business would entail a lot more than just knowing the different leadership styles odifferent management theories.
The rule of good managers are very fond of what we call the "personal touch". Their personalities demand for loyalty, commitment and camaraderie rather than no-personal traits. Many managers and subordinates understand the feelings, sympathies, expressions of support and to some extent flatteries. Attributes such as objectivity, aloofness, professionalism and the like, even if these are the right tools to use some occasions, the managers, will still receive the criticism he/she may not deserve. We need to coat out impersonal goals of efficiency and effectiveness with camaraderie, cooperation or loyalty. This may not mean 100% efficiency but it is one indirect way of communicating to a subordinate confidence and belief of the managers or boss on his/her capabilities.
Many consultants and practitioners suggest various tools and techniques to cope with such problems. Some tactics may be employed with a word of caution-the things enumerated here may not be true for all cases and occasions. This could be used only if the need arises and after a thorough analysis of the circumstance besetting the business.
1. Never say "Never"
Leave the door open for reconciliation, for change, for improvements for making amendments.Fortune changes. People change their situation; today, you have problems with them, tomorrow, you may need them. If you leave the door open, or say "It depends" or "Let's see", then you leave the options or alternatives for tomorrow. You can never tell what will happen tomorrow. Be firm, true; but be flexible.
2. Choose your ground
Do not fight in a hostile environment where you do not have support or resources. Choose your battle ground. Don't team up with unfriendly cliques groups. Stay away from unfamiliar and unfriendly territory.
3. No hassle rule
Good managers try so simplify always. Then seek the most direct shorter route to the solution to the problem. Sometimes, they are not concerned with the proceeds, the method, or the route. They want to know the reason and why. They want to know the end results. They do not want unnecessary hassles.They avoid trouble if possible.
4. It is difficult to have an absentee owner
It is like a gasoline station or the small restaurant business.The owner has to be around all the time, or else, the employees will go off and costumers will run circles around the staff. Do not be an absentee landlord if you want to go into business.
5. Enter while it is hot!
Be alert to hot products, to new fads and consumer interests, to the happy moods of the managers. At lose moments, seize the opportunity and ride with the trends Strike while the iron is hot!
6. Do not do everything alone
Trust subordinates. This means you must pinpoint the task or job. Spell out the results you want Select the person. Tel what they expected and give an authority to a person whom you may trust, support and give an advice. Good managers are good teachers.
7. Deadline conscious
Many managers work hard. But some work for the sheer joy of it. Others do not know anything better. Yet, the important thing is to be aware of deadlines. Learn how to set deadlines. It is very difficult in the beginning until it becomes a habit.
8. Mean it when you say "No"
This is the weakness of many managers. They find it difficult to say no. Even when you said "No", they backtrack when they are approached by a crying lady or a repentant employee. But management is also saying "No", "Halt", Enough". More often than not, saying "No" brings good results.
9. Look smart and be smart
You have to have an area of expertise, a specialization, something that is entirely yours and gained through experience, exposure, academic training, travels, associations or family tradition. Study, travel, read and get experience.
You may not be that successful businessman now. But You have the potentials to be one. Develop this potential into something big. Before you know it, you are ready earning the first million you were just dreaming not so long time ago.

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