Business Management

Business Management -
The 8 skills of Management

When you are in a small business, there are certain Business management skills that are essential to ensure you not only get through the day, but prosper. They are also very useful for those in bigger corporations - perhaps they should pay more attention to them!

1. Entrepreneur

This is true "marketing" - you see what opportunities are "out there". You are looking at how your skills and those of your business could be used or developed to meet a demand - or create a demand.

2. Leader

As a leader, you are expected to create and maintain a positive and productive work environment for yourself and your employees. How? Well, if you are improving employees' performance, reducing conflict, providing feedback on performance, and encouraging personal growth and development, that's leadership.

3. Negotiator

You have to spend a good part of your time negotiating contracts with suppliers and customers. This negotiator role demands that you have the information to play it successfully.

You interact with many other people besides your suppliers and customers, of course - your employees, government and so on. Those of you who have been following my newsletters will have read the Negotiations article.

4. Monitor

You need to constantly monitor the work environment to know what's going on. Collecting information by reports is essential, but equally vital is asking questions, and the unsolicited information from grapevine, rumor, and other unofficial sources.

5. Communicator

You need to keep all your employees up to date, and not just a notice on the noticeboard, or giving instructions. "Walk the floor" - keep in touch - see MONITOR above.... The more your staff know about why something is happening, the more they will support and help you.

6. Decision Maker

When equipment breaks down, there are scheduling problems, or staff are off - and other unpleasant surprises that occur, you need to develop effective solutions and keep your business moving forward.

Again, those of you who have been following my newsletters will have read the Negotiations article.

7. Delegator

Only you are responsible for deciding how scarce resources such as money, materials, time, and equipment will be used. However, delegating in the right way, encouraging staff to develop, gives you more time to cover other areas.

8. Figurehead

Yes, if you run your company, then you are a figurehead! That means "ceremonial" duties - which you might well enjoy. For example, you can conduct tours of your facilities, speak to service clubs and civic organizations, and attend employees' retirement dinners. This matters, as it is part of you image building both in your community and for your employees.

These 8 skills are not a complete list, but if you are able to positively apply these, you can be confident that you have a good grip on your business

This page was updated by Paul Hogwood, 24th January 2008

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