Seven tips for great business management October 12, 2016

Both new managers and those with years of experience understand the importance of the correlation between good management and a successful business. We've put together seven aspects of management that shouldn't be taken for granted.

Let go of the reigns

Being a manager admittedly puts a lot of pressure and responsibility on your shoulders. But it's not a burden you need to carry alone. A team in an organisation is just that - a team! Everyone knows their jobs and you shouldn't be doing it for them. It's essential to let go a bit and allow the leaders of a given team to take some of the slack, they'll probably enjoy having some more responsibility and its less stress on you. Of course this doesn't mean you shouldn't keep an eye on them and give your input, advice and motivation when its needed but it shouldn't be all on you.

Talk it out

Communication. Communication. Communication. This point can't be stressed enough. Nobody in your business is a mind reader (we think!) so how else will you know what others are thinking and how else will you be able to put your point across? Informal chats can be as revealing as business meetings, sometimes more so. Talk with diplomacy and keep in mind professionalism but there's no reason not to have a chat by the water cooler every now and again!

Share the load

Be it partnering with other companies or with colleagues in the office, partnerships are an integral part of the business experience. Make sure you keep your partnership meetings frequent, this will let you keep both sides of the table informed and up-to-date on what's going on. Setting up a solid foundation with a potential partner from the beginning can blossom into a long-lasting successful partnership which can pass from one business to another.

Crises aren't always bad

Things go wrong. Sometimes it feels like far too often! But this isn't necessarily all bad. We learn more about ourselves and how we react to stress on those days when everything is falling apart. By keeping a calm head and thinking things through you will get through it and you'll be better as a manager for the experience of it. A manager who has had their metal tested shows you know how to handle pressure and have had experience of what to do when things aren't so rosy.

Get socialising

Offices aren't a high school but they sometimes can feel pretty similar. We all have the co-workers who clique in groups from the office gossips to the weekend show-offs. Whilst these generalisations are over-exaggerated here it puts across the point I'm making. These groups have to be pulled together, their talent pools are essential to tap into to expose the potential a business possesses behind-the-scenes.

Budget your finances

Controlling and tallying the finances of your business is one of the most important aspects of keeping a business running successfully. You need to know what amounts of money go to which department, prioritising finances based on your businesses' current economic situation. Know your business, know who needs finances and try to pre-empt who will need what amounts and when.

Test your metal

Once you've tackled the day-to-day aspects of running and managing a business, you're ready to manage projects, which will really put your skills to the test. Projects can have a high intensity to them, they require people who may not normally work together becoming co-workers for the purposes of the project. They have their own budgeting needs and time frame. This means they will probably stress you out but they will also help you learn how to utilise your managerial prowess in a limited time frame.

We have a course for that!

The management training courses at London TFE work through each of the above topics and also cover skills in work management, generating and maintaining motivation in the workplace, conversation techniques, supervisory techniques, administration and time management. Targeting all aspects of business management, this course will take you through the steps of managing a business to achieve success.A

iLearn Blog

Seven tips for great business management October 12, 2016

Our Clients

Hello. I'm looking for