Manage and Grow

Business Only as Good as its Management
A business will only be as good as its management. A business or organisation is only as good as its leader. The
"Time management is not always about working harder, but about working smarter ..."
manager has to be aware of the objectives the business has laid out in its business plan and do everything possible to reach those objectives. No business can run itself. There has to be a "boss" in place who “calls the shots” and makes the decisions.

It has been identified from research that poor management is possibly the main cause of business failure. This means that good management is the key to business success.

Basic principles of how to run a business include obtaining the necessary accounting and financial knowledge required or the business education that enable sound decisions to be made.

The 3 Basic Areas of Management
There are 3 basic areas of management that involve planning.

These are:

  1. Strategic Planning.
    Strategic planning is the process of setting down the goals of the business and planning how those goals are going to be achieved. It involves the business owners and advisers looking into the future of the business, rather than only being involved with what is happening at the present time. It is a plan that sets out the map for the ongoing growth and profitability of the business. It lays out its strategies.

  2. Operational Planning.
    This involves the process of working out ways that the strategic plans can be achieved. That is, it is involved with how things are going to get done.

  3. Technical Planning.
    This involves the more technical side of the business such as the analysis of its performance and other data, to see whether and how the strategic planning process has been met. It is involved with finalising current tasks and it is more a short-range objective.

The whole idea of planning is to set out clear tasks that have to be completed and to put in place strategies or plans to complete those tasks. Every business owner should appreciate the importance of proper planning, because it is basically to do with properly managing the overall business operation.

The 4 Main Management Mistakes
The main complaint that small business owners have is that they never seem to have enough time to do everything. This means that they have to learn how to manage their time so that time wastage is reduced and time is better allocated to duties that produce results.

Time management is not necessarily about working harder, but rather working smarter. It often has to do with what we are not doing, rather than what we are doing. Sometimes mistakes and omissions will keep us from running the business at its proper pace and this will inevitably result in stresses within the business, resulting in losses or failure.

Here are 4 top management mistakes that need to be avoided:

  1. Make sure you start your day with a plan. You may have worked hard, but it is possible you may not be doing the right things during that work time. Time management is not about doing things quicker – it’s about doing things right.

  2. Make sure you balance your life. The seven vital areas are: health, family, financial, intellectual, social, professional and spiritual – not necessarily in that order. A balanced life is more productive and organised.

  3. Make sure you get enough sleep. Studies show clearly that 75% of people complain that they are tired and this is attributed mainly to a lack of quality sleep. Sleep enables stress to be worked out of your system, which means both physically and mentally, you can get more work done the next day.

  4. Make sure you take a lunch break. No one can work productively for eight hours a day without a break. Studies show that the lack of a break will produce fewer results eventually. People cannot work a whole day without a lunch break or tea break and be productive.