October 29, 2015

What It Takes For an Entrepreneur to Also be a Top Notch Manager


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You’ve got your business, you’ve got clients, and you’ve got a few trusted employees to help you get the job done. You have a tiny team, but a team nonetheless. And until you find someone you trust enough to delegate out tasks, you’re going to be calling the shots. Add that to the stacks of client work piling up on your desk.

That’s all the more reason to nurture your team members. Sure, your’e paying them,. That said, it’s essential to regularly address their needs and nurture their talent.

As a provider of part time CFO solutions, I often see clients’ success or failure come down to how they manage relationships with their team members. That’s why I’ve taken the time to compile a few thoughts on how get started doing this in a way that will ultimately lead to a lot more time and money for everyone.

For one, make it easy for your team members to build relationships with one another. Establish an open dialogue. Better communication from the outset ensures stronger group dynamics, which leads to organic internal collaboration, fosters knowledge-sharing, and sparks creativity. Openness breeds happier employees and better work.

And you’ve got to cultivate individual relationships with your team member as well. We all come from a variety of experiences and backgrounds. And your team is no different. Your management style should reflect these differences and adapt to their individual needs. Ask your teammates what type of environment they thrive in and where they feel there are opportunities for them to improve. Listen. You’ll be better prepared for when things go wrong.

And when something does go wrong? Don’t hammer your team members’ mistakes…at least not at first. Provide your team with constructive feedback and find ways that help them fix the problem and improve for future projects.

In short, be open, flexible and supportive. As a manager, your job is to provide your team with the tools to achieve the ultimate goal–growing your business. You’re their coach, their teammate, and their biggest fan. Take care of them because they are the backbone of your business.

Are you prepared to handle the biggest challenges faced by business owners?

Don’t get blindsided by problems that other talented leaders have already solved.

We’ve teamed up with Dr. Hector Lozada, Professor of Economics at Seton Hall to survey business owners ranging from start-up founders to seasoned CEOs. What came out of it is a cheat sheet for sidestepping the roadblocks, bottlenecks, and challenges that plague your colleagues and competitors.

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