Managing a business is a huge task that can seem completely overwhelming at times. Further, not everyone is a natural leader and it takes time to develop strong management skills.
Preparing for potential problems can help you avoid some common business pitfalls new managers often face, so take a minute and review these four common business management mistakes you must avoid.
1. Failure To Communicate
Business leaders must be able to communicate clearly with a wide range of people. They deal with customers, employees, vendors, and others every day.
Managing a business requires wearing many hats and communicating well at a personal and professional level. [quotesright]Failing to communicate effectively can lead to poor performance, work errors, low morale, and more. [/quotesright]
To be a strong leader, you need to sharpen your communication and listening skills. An effective manager should strive to be clear, confident, and empathetic as they communicate with others.
2. Not Delegating
It's not unusual for a business manager to fall into the trap of trying to single-handedly run everything. There's no way to take care of every detail of managing a business on your own.
Sometimes it may seem that it's easier to do things yourself. But trying to do it all will only result in some details falling through the cracks.
Value your employees and put them to work doing what they've trained to do. Delegating tasks to employees will make you a better manager and give you more time to focus on the big picture. [quotesright]Involve employees in finding solutions – you will discover better ways to resolve situations and they will be fully invested in making the solution work. [/quotesright]
3. Neglecting Branding And Marketing
No matter how large or small your business, remember that you're not just building a company. You're building a brand.
The goal is to build a dynamic brand your customers will remember and return to time after time. In a crowded marketplace, you want your brand to stand out from your competitors.
Center your marketing around your brand and your customers. What sets your business apart? Capitalize on it and make sure your brand is one people can relate to and trust.
4. Forgetting To Anticipate
A good manager thinks ahead. Failing to anticipate what comes next can lead to disaster.
Managers have to anticipate potential problems, risks, and response strategies. They have to expect and be prepared for complaints and objections. They need to know their employees and understand their strengths and limitations.
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“If you can’t describe your strategy in 20 minutes, simply and in plain language, you haven’t got a plan. People say ‘I’ve got a complex strategy; it can’t be reduced to a page.’ That’s nonsense. Every strategy ultimately boils down to a few simple building blocks.” – Larry Bossidy, CEO United Technologies
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Don’t just create a plan and hope it works, use the Pre-Mortem process to almost failure-proof your plans.
Make "strategic planning" a key part of your management strategy. Rely on standardized practices and data analysis as you set your business goals.
Jumpstart the process
The success of any business depends on strong management and dedicated employees. If you're interested in learning more about becoming a better leader, more effective manager, and an excellent communicator, we can help.
Let's set up a time to talk. Brian Tracy USA: 877.433.6225 Email Me
