Small business owners need to manage human resources and Identify who is needed to grow the company.
Start Up Handbook series part 5, Small business delegation and succession
Managing your human resources: To manage time more effectively, do a time assessment.
Is the majority of my time spent on tasks that grow the business or bring in more money?
Is the majority of my time spent on tasks that only I can perform?
Time management tips:
1. Group tasks into similar categories of activities (for example, making phone calls, drafting proposals).
- Organize mail and file accordingly.
- Create task-and project-specific to-do lists.
- Schedule dedicated blocks of time to do similar tasks.
2. Choose an organizing and scheduling system.
- Create filing folders and subfolders that allow you to find data quickly
- Use your email program's "rules" to presort your mail into subject categories.
- Use your calendar to schedule works the same way you would schedule meetings.
3. Eliminate time wasters.
- Determine what activities are most profitable and focus on those. The 80/20 rule says that 80 percent of your results come from 20 percent of your efforts.
- Learn to say "no." Delegate everything is not critical that you do.
- Limit meetings, when you must meet, have an agenda that focuses the meetings.
4. Use technology to streamline tasks.
- Online collaboration tools such as instant messaging, intranets or voice conferencing can eliminate the need for in-person meetings.
- Use cloud storage and backup, smart phones and tablet computers to access files from anywhere.
- If you have an e-commerce site, integrate it with your financial tools.
Rest Relation + Relaxation + Letting Go = Good Management
The Benefits of Delegation
Many business owners are reluctant to delegate even if they have the staff on hand to do so. However, learning to delegate is perhaps the most essential step in growing a business. Identifying leaders.
- Creates a culture of accountability by making employees responsible for results, not just completing tasks.
- Frees up your time to focus on crucial growth tasks, instead of day-to-day operations.
- Fosters employees' skills and confidence.
- Paves the way for a succession plan so you can retire or sell your business.
Try these steps to successful delegation:
- Identify key tasks to delegate. Start small so employees can build confidence and skills.
- Identify which employees are best suited for each tasks. Determine what type of training is needed to fill any gaps in their knowledge.
- Train employees. You, a partner or another employee can do this. Be sure to provide specific, detailed instruction. Watch the employee do the task and encourage questions to make sure he or she understands.
- Focus on result, not process. As long as employees get the desired result, don't worry too much about the specific steps they took to get there. Focusing on results creates employees who can think for themselves, be leaders, not just follow directions.
- Provide and receive ongoing feedback. Let employees know how they are doing, both during the training and after tasks are completed. Make sure feedbacks go both ways. In addition to giving employees feedbacks, encourage them to give you or their supervisor(s) feedback about better ways to do things or new ideas for processes.
Next- Creating a Team, Advisory Board, Org Chart, Succession Plan
About the author
Marjorie Weber has been educating entrepreneurs and guiding them in their search for capital for the past 16 years: combining business training programs with one-on-one mentoring. Marj is currently the executive director of Primed2Grow, a Miami based consultantcy. Most recently Maj was a financial advisor for Florida SBDC at FIU. She was Chair of SCORE Miami Dade from 2010 to 2014. She also serves as an advisor to the Goldman Sachs 10,000 Small Business Program and the SBA Emerging Leaders Program and provides training for Veterans seeking an entrepreneurial path upon retirement from the service. She has facilitated workshops under the auspices of Miami Bayside Foundation, Little Haiti Cultural Center and .local banks. She commenced her career as a real estate investment banker in New York and Miami..She uses these long term relationships to assist her clients in accessing capital. She knows both the process and the people and has assisted in providing financing for hundreds of businesses in Miami Dade.