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Thursday, July 15, 2010

Operating an Effective and Successful Business after Buying

Peter King
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When you are going to buy a business, you have to know how to be an effective manager. Since the business you have bought is now yours to run, there are some important points to follow to be not only an effective but a successful manager.

You should be articulate and vocal about your beliefs – this will set the tone for your workplace.

You should lay down strict standards for your employees to follow.

An even hand and temperament will help you will retain employees long term.

Have the ability to read people’s characters and skill levels effectively.

Be genuine, sincere and honorable with high integrity – this sets the bar for others to follow.

Becoming a Successful Manager
How you manage your business to success depends on a variety of factors. First and foremost, you build your workforce with qualified and team-oriented employees. You want there to be a strict set of guidelines to follow, while making your business a fun environment to work. A pleasant environment set by you will lead to how you want people to treat each other – monitoring and managing how they behave is imperative. The employees have to trust you; therefore, you need to trust them.

Success is about character, respect, integrity; trust, honest, empowerment, confidence, loyalty and keeping promises. You must bet on the long term. Do not allow short-term pressures to stampede all over you.

Correctly Modeling Your Behavior
If you want your employees to properly conduct themselves so your business can be successful, you must set a fine example for them to model their behavior. You should want everyone to succeed and try as hard as possible, assisting them with their personal development. Facilitate business protocol and procedures, never dictate. Always follow what you say you are going to do so you don’t contradict yourself to your employees. If you speak regularly about your vision and philosophy and practice it with the same fervor, people will not only know where you stand but follow with the same enthusiasm.

Finally, remember these few points as you move forward with your business:
  • Do what’s right over the long term for both your clients and employees;
  • Constantly react and relate to your employees;
  • Show them you’re a human being, not just a manager;
  • Take your work seriously without taking yourself seriously;
  • Know who your employees are and understand what drives them.


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