How to manage a successful business?

It is possible to state that well-executed business management only depends on good planning, performance indicators, the use of technology and professional qualifications.

In this sense, these would be the “weapons” that the manager should equip himself with to be able to face the challenges — countless and daily, that is to say — that require a lot of “belief” and a great deal of knowledge to keep the gears not only active, but working well.

However, in practice, the truth is that these principles can unfold into different actions. It is precisely about them that we will talk next. Check out!

Properly map your business

The starting point — and which requires a deep and careful assessment on the part of the manager — is the mapping of the enterprise, which encompasses, for example, the business model you wish to implement and the means you intend to use to leverage your business. idea.

To do this, it is important that you reflect on your competition and analyze your suppliers. As the market is highly dynamic, this type of concern must be constant.

Then, seek to ensure the preparation of an appropriately formulated business plan, with the planning of objective actions and the definition of clear metrics. You can think, for example, of daily, weekly and monthly strategies , but keep in mind that the focus should be on multiple ideas at first.

Have control over information

The need to maintain control over information could not be left out, after all, the better informed a manager is, the easier it will be for him to make adequate planning for the enterprise. Furthermore, before even starting business management, it is essential to be equipped with information that will lead to successful execution.

Therefore, the most recommended thing is to research your organization in depth, talk to the members of your staff, seek help from specialists and, if possible, seek qualifications in the area. Regarding this last point, take into account that, nowadays, it is much easier to find quick courses on numerous subjects and even more complete and extensive ones, such as specializations, if that is your preference.

Analyze your target audience, your market and your location

In order to make mapping your business easier, evaluating both your potential customers and the segment of activity your business will be part of is an excellent option. At this stage, it is recommended to identify your competitors and observe how they have been working so far.

Then, try to measure the volume of your customer base — as well as its quality — and make sure that the business model you want to grow is in line with your current location (or where you are considering establishing yourself ). So, study your location deeply. In large cities, for example, it is essential that you check if there is parking nearby to receive your customers.

Furthermore, carry out a careful survey of consumption trends in the surrounding region. Nowadays, more and more, “fads” have a short lifespan, so new things quickly become outdated. For this reason, it is essential that you preferably carry out long-term analyses.

Form a good team

Even if your business is still starting out and/or is small, and there is a need to hire a few professionals, make sure you can count on people with whom you have an affinity.

In this sense, in the recruitment and selection (R&S) processes, remember that what must prevail is the qualification of the candidates and, subsequently, in performance analyses, the way in which team members are performing the tasks that were assigned. .

Discover how to keep your workforce motivated.

The truth is that, for good business management, it is also essential to have knowledge about people management, after all, it is essential to know how to keep your team of professionals motivated. Imagine, for example, leading an organization, carrying out excellent strategic planning, organizing teams well and keeping finances appropriately distributed. At first, everything seems to contribute positively to the success of the organization, right?!

However, there is an element present in all these stages that has the potential to generate a lot of headaches: the human factor . In this sense, remember that it is essential to combine business management with people management and understand what truly generates motivation in your employees.

Just keep in mind that this can represent one of your biggest challenges, especially because people are unlikely to be motivated all the time. Therefore, an excellent alternative is to use tools that can help you in this mission, for example, creating moments of relaxation and connection between workers, knowing how to be emotionally intelligent, etc.

Try to be a good manager

Regardless of the size of your business, try to manage it well, keeping all your obligations up to date. Therefore, relate as well as possible with the members of the staff and try to have a close — and, of course, cordial — involvement with each of them. Furthermore, give autonomy for the functions to be performed, however, closely monitor the activities and be present to guide them when appropriate.

Another good practice is to publicly praise positive individual performance and, if it is necessary to warn or criticize conduct, for example, always do so privately. Furthermore, convey authority and security to everyone, but without intimidation of any kind. Don’t forget that the ideal is for the relationship between you to be as transparent and peaceful as possible.

Take good care of your finances

When it comes to finances, the first thing to keep in mind is to never allow your personal financial life to mix with your business financial life . Separate them and always keep them independent — believe me: this is essential for preserving the good financial health of the business.

Furthermore, even if you don’t have a professional to guide you in this regard, try to follow the most common guidelines from financial advisors, such as keeping your credit card under control and avoiding using overdrafts as much as possible. Both tips are relevant to you as a legal entity and even as an individual.