6. Manage Control Grow



STAGE 6 - MANAGE, CONTROL, GROW

Stage 1- Manage all areas with good records. Monitor financial results
Manage the business well. Put  in place weekly meetings for managers and all key staff. These meetings should ensure that everyone that needs to know what is going on is fully informed on all business developments.

Make sure proper business and financial records are being maintained so that they comply with good business practice. Keep minutes of meetings. Recordkeeping must also comply with tax laws and other regulations.

Continually monitor your financial performance and compare with budgets on a monthly basis. Monitor also the performance of all employees to ensure maximum efficiency.   Good personal performances by staff results in good productivity.

What you should do:

  • Put in place weekly management meetings more info..

  • Put in place weekly key staff meetings more info..

  • Manage every area of the business

  • Maintain Good Records and Accounting

  • Monitor Financial Results with Budgets

  • Manage all Employees and their performance

 

Stage 2 - Control all areas. Work with accountant on financial and tax.
Managing includes controlling all  vital areas. Watch all these important sections carefully and make sure that weekly reporting is in place so the business owners (or directors) can base their  decisions  on the  information gathered.

Forward all financial data to your accountants monthly and review financial results produced by them promptly after completion.   Make changes to direction or policy if results dictate that changes are required. Keep an eye on tax obligations so that due dates for payments etc are met to avoid late penalties.

What you should do:

Control these areas:

 

Stage 3 - Ensure growth and success. If business struggling start rescue strategies
Keep a close eye on the pace of growth so that the business does not overextend itself. Work with your advisers to ensure your business runs profitably and grows soundly.

Go for success.

If the business ever looks like running into difficulties and not performing according to plan, execute strategies to rescue it urgently.

What you should do:

  • Maintain and manage Growth and Success in the business more info..

  • If things are not working to plan put in Rescue Strategies more info..

 

If business is closing down, go to STAGE 7Click here