Did you know people who aspire to be better managers, continually sharpen their skills in the fundamentals of business management?
According to David Shedd’s post in “Business Insider,” the fundamentals of business management that “drive business to success … are unchanging.”
You would expect that fundamentals are unchanging and drive success. Of course!
Just like in sports, even the best in the world work on the fundamentals. If you are serious about being a business manager then work on the fundamentals of business management.
The 5 fundamentals of business management
Pay attention to the currency of what you do.
Make sure tracking and metrics are in place. If you run a business, get the cash flow and accounting in place. Get the metrics defined around what you deliver, the quantity, quality. Track these carefully.
If you are professional in a larger company, identify the currency of successful projects and manage those carefully.
Set SMART goals and track the metrics.
Pay attention to your customer’s values. Their values and aspirations.
In the scale of needs versus action, where do your customers fall? What do they value? Everyone needs all kinds of things. Few take action.
It’s only when those needs become worries, pains, wants, desires and best of all, aspirations (values), that action becomes unstoppable.
You must also have the goods, the best product or service in your niche. Then align it with the customers values and needs.
Pay attention to the planning. Strategic planning and business planning.
You have to be in the right market. A market that is growing and can sustain healthy margins. Align your strengths, talents and offerings to that market. Review and adjust your plans continually.
Pay attention to your management and leadership skills.
Imagine a sports coach who doesn’t pay attention to teamwork of the players, coaches, and others who support the team. Performance will suffer. The coach will be fired.
Understand the fundamentals of teamwork, accountability, delegation, and communication. Then execute your activities well.
Pay attention to the language of those you work with.
It’s a cultural thing. Everyone has values, behavior patterns, and perspectives different than yours. They express it in their own unique “language.” The more you understand their “language” the easier it becomes to get things done. Projects work more smoothly. You must listen carefully to what they say and pay attention to what they do.
A quick story
I managed a sales team and channel partners around the world. When things got rocky, I would stick to my guns about hitting numbers and doing the activities to build sales. It made sense. I followed a basic concept in sales management. However, it broke one or more of the fundamentals of business management.
My mentor would take me aside and tell me to listen more carefully to their complaints. Even if I considered the complaints ridiculous, address the complaints and take them seriously. Give the team no excuses to fail. This served me well. Whenever I forget, I pay.
To learn more
Give me a call at 503-753-9971 or contact me at Phil@PhilBride.com and let’s spend a few minutes to talk about your situation.
If you are ready to take time to work on the fundamentals of business management…
Take 30 minutes and let’s talk. It’s complimentary.
Up your game. Make things happen.
“Dominate your life with Focus, Decision and Execution.”