Explore how we manage a business

A good manager will need to manage the numbers and keep a track of the processes. They need to create analytical systems and will therefore reap the benefits later.
It is important to train your employees to retain consistency. It is equally important to know your numbers; check them daily.

Without a plan, it is just a dream. You just need a few pages outlining strategies, financials, objectives, sales and marketing plan, and a determination of the cash you need to get things going.

“The plan is always wrong” people use to say this is what you need to adjust, confront and conquer.

2. People management
Learn how to delegate to employees and how avoid micromanagement. 

A manager’s job is to delegate and then inspect progress. Keep business organization flat. When you delegate effectively, you will receive more, and better, than you expect. Use an incentive-based rewards system and maintain a no-problem attitude about issues that crop up.

3. Decision making steps
  • Classifying the problem. Is it generic? Is it exceptional and unique? Or is it the first manifestation of a new genus for which a rule has yet to be developed?
  • Defining the problem. What are we dealing with?
  • Specifying the answer to the problem. What are the “boundary conditions”?
  • Deciding what is “right,” rather than what is acceptable conditions..
  • Building into the decision the action to carry it out. What does the action commitment have to be? Who has to know about it?
  • Testing the validity and effectiveness of the decision against the actual course of events. How is the decision being carried out? Are the assumptions on which it is based appropriate or obsolete?
4. Have fun
Being an entrepreneur is your choice, so make it work. Yes, it’s a rollercoaster but you need to learn how to manage this. It can be done and there are good techniques to avoid or manage the struggles. Have fun!