Small Business Management – 7 Key Tips For Small Business Owners

By on March 11, 2013 with No Comments

Human Resource Managers play a key role in the success of small business management. However, most often, it is the commitment to people, processes and products at the end of the entrepreneur that contributes largely to the success of small businesses.

Here are 7 key tips for small business owners and the respective HR Managers partnering such businesses

For a small firm or company, every employee matters. This increases the importance you must place on managing your workforce effectively; motivate them sufficiently.

In terms of this very management, you as entrepreneur with support from your HR Manager, may follow the seven tips to make a small business management successful. HR Managers, in addition to the key role of HR Manager, may provide some customized small business services as small business consultants. 

Think beyond money:

Sure, financial awards encourage workers to put in more of an effort. But don’t forget the importance of working environment, work-life balance and the nature of one’s job. Motivate your workforce with a range of incentives targeting all of these things. Put in place recognition programs and you’ll see a spike in performance levels and efficiency on the job. Non-fiscal rewards are the best tools for attaining and retaining the best of the best.

Make employees feel at home: 

Orientations for new employees is extremely important. It’s their first introduction to the company, and will set the mood at the very start of their employment, as to what kind of work and behavior is expected out of them. HR Managers will have to lead this intervention in collaboration with the business managers.

Make sure everyone is one board:

Make sure the entire team is in the know of a company’s mission and vision. When a major project has everyone engaged, make sure all your workers have been briefed. There’s nothing that makes you feel more left out than when you are not “in the know”.

Focus on collaboration:

As a small business owner, chances are that your business will succeed if employees collaborate rather than compete with each other. You could also take a leaf from inspiring entrepreneurs sharing their experience to success. 

Confront problems:

Do not attempt to avoid them. For a small business owner, problems will be both big and small – but one thing is universal – you can’t sit around for them to figure out themselves. You must confront them to allow normal work to resume.

A learning experience:

Take every problem you encounter as a lesson to be learned. Do not lose hope or heart and learn what you can do in the future to improve a certain outcome. Remember, similar to employees, even every experience in your business journey is also a learning experience for you as the small business owner. 

Empower your team:

Ensure that they are motivated and capable enough to carry on their work without your supervision – as a small business owner you will have plenty else on your plate to worry about! It is often proven that emplowered teams make for s successfula small business management. 

Summary

  • Think beyond money – It’s not everything!
  • Make employees feel at home
  • Make sure everyone is one board
  • Focus on collaboration amongst the workers
  • Confront problems that may arise
  • Take every problem as a learning experience
  • Empower your team

Small Business Management – 7 Key Tips For Small Business Owners

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Category: Tips and Tutorials

Sudakshina Bhattacharya

About Sudakshina Bhattacharya: Greetings to everyone from Sudakshina. I am a practicing HR professional for over a decade in various organisations in Telecom, Hospitality, Entertainment and Financial Services industry. I am currently leading the HR team for a reputed Financial Services Company. HR Crest is my special interest and I do hope you like reading what I share. Recently, Asia Pacific HR Congress conferred the "HR Professional Of The Year" award to me.Look forward to your encouragement through views, suggestions and contributions. These posts in HR Crest are my personal views and opinions based on my experiences. http://www.bschoolaffaire.com/jury.html http://www.asiapacifichrmcongress.com/APHRM%20Awards%202011.html View author profile.

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