How To Manage Your Enterprise - Enterprise Management
To manage an enterprise effectively you need to look at many different aspects, right from managing the day-to-day activities to figuring out how to handle a large scale event. Let's take a look at some simple steps to manage your enterprise effectively.
1. Use your leadership skills and ask for advice when required.
Let's take the example of Ramu, an entrepreneur who has recently started his own enterprise. Ramu has good leadership skills - he is honest, communicates well, knows how to delegate work, etc. These leadership skills definitely help Ramu in the management of his enterprise.
However, sometimes Ramu comes across situations that he is unsure how to handle. What should Ramu do in this case? One solution is for him to find a more experienced manager who is willing to mentor him. Another solution is for Ramu to use his networking skills so that he can connect with managers from other organizations, who can give him advice on how to handle such situations.
2. Divide your work amongst others - realize that you cannot handle everything yourself.
Even the most skilled manager in the world will not be able to manage every single task that an enterprise will demand of him. A smart manager needs to realize that the key to managing his enterprise lies in his dividing all his work between those around him.
This is known as delegation. However, delegating is not enough. A manager must delegate effectively if he wants to see results. This is important because delegating, when done incorrectly, can result in you creating even more work for yourself. To delegate effectively, you can start by making two lists. One list should contain the things that you know you need to handle yourself.
The second list should contain the things that you are confident can be given to others to manage and handle. Besides incorrect delegation, another issue that may arise is over-delegation. This means giving away too many of your tasks to others.
The problem with this is, the more tasks you delegate, the more time you will spend tracking and monitoring the work progress of those you have handed the tasks to. This will leave you with very little time to finish your own work.
3. Hire the right people for the job.
Hiring the right people goes a long way towards effectively managing your enterprise. To hire the best people suited for the job, you need to be very careful with your interview process. You should ask potential candidates the right questions and evaluate their answers carefully.
Carrying out background checks is always a good practice. Running a credit check is also a good idea, especially if the people you are planning to hire will be handling your money. Create a detailed job description for each role that you want to be filled and ensure that all candidates have a clear and correct understanding of the job description.
You should also have an employee manual in place, where you put down every expectation that you have from your employees. All these actions will help ensure that the right people are approached for running your enterprise.
4. Motivate your employees and train them well.
Your enterprise can only be managed effectively if your employees are motivated to work hard for your enterprise. Part of being motivated involves your employees believing in the vision and mission of your enterprise and genuinely wanting to make efforts towards pursuing the same.
ou can motivate your employees with recognition, bonuses, and rewards for achievements. You can also motivate them by telling them about how their efforts have led to the company's success. This will help them feel pride and give them a sense of responsibility that will increase their motivation.
Besides motivating your people, your employees should be constantly trained in new practices and technologies. Remember, training is not a one-time effort. It is a consistent effort that needs to be carried out regularly.
5. Train your people to handle your customers well.
Your employees need to be well-versed in the art of customer management. This means they should be able to understand what their customers want, and also know how to satisfy their needs. For them to truly understand this, they need to see how you deal effectively with customers.
This is called leading by example. Show them how you sincerely listen to your clients and the efforts that you put in to understand their requirements. Let them listen to the type of questions that you ask your clients so they understand which questions are appropriate.
6. Market your enterprise effectively.
Use all your skills and the skills of your employees to market your enterprise in an effective manner. You can also hire a marketing agency if you feel you need help in this area. Now that you know what is required to run your enterprise effectively, put these steps into play, and see how much easier managing your enterprise becomes!
By - nsdcindia