Not all people have the same set of skills. One of the biggest problem a business can face is having poor management. No matter how good the original business plan might be if the business is managed by someone incompetent the business will surely eventually fail.
As a business owner it is up to you to make sure that the job of managing your business is in good hands. It is up to you to decide whether you are capable of managing the business or need to delegate this task.
I believe that every business owner should know something (if not a lot) about managing their own business. Sure there comes a time when a manager is necessary but it is important that the owner at least knows that inner workings of his own business. However, it is unrealistic to expect everyone to be good at management. The best thing to do, in case you know you are not skilled in this area, is to learn more about management BEFORE you even start your business. Again this is not that realistic since many people have already opened up their business but have little or no knowledge about management. In this case, you have no other course but to hire someone who is a good manager. While this is happening though, make it a point to learn more about the different aspects of managing your own business. Do not meddle with your manager in decisions you do not understand much about but do learn from the manager. If you want your business to grow larger you NEED to learn how to manage not just a small business but a big company. It makes sense to read books and/or take classes and not just try to learn everything from experience. If you make mistakes chalk it up to experience but make sure you try to learn as quickly as possible in order to reduce the mistakes, which hopefully won’t be anything critical.
Originally posted on February 19, 2008 @ 11:41 pm