Author: anne

Strategize.
There are many ways to outwit everyone else when it comes to managing a business. Since there are a lot of factors that needs to be considered, the key is to maximize everything. Planning ahead is one proven way to a better management. You can do this by customizing all the perils of management that was mentioned previously. Doing this can prepare you on future problems that you will be faced with. It is never outdated to always hope for the best yet prepared for the worst.

Delegate.
Acceptance that you cannot do everything is vital to be able to lead well. Having so many limitations makes it impossible for anyone to do a “one-man” show and become successful. While it may give you a lot of peace of mind knowing that you are able to greatly perform tasks based on your own standard of greatness, you can actually accomplish more by delegating other stuff to others. This will be possible if you are able to train them to think and do things the way you will. Proper delegation involves being able to delegate the tasks accurately with set expectations and troubleshooting methods in case the expectations are not met.

Hire Virtual Assistants.
If you have budget constraints and will have difficulty hiring traditionally, getting help from virtual assistant is your best option. In fact, there are lot of cases wherein it was proven that hiring someone to work virtually is much effective than hiring conventionally. Not only that Virtual workers cost less, other matters like benefits, taxes, office resources and supplies will not be a problem. Setting up a virtual office is surely more cost-effective than having to set-up an actual office. The key is to look for quality virtual assistants that can really help your business. Virtual assistants are abundantly available on the internet; they offer different skills set and level of expertise.

Gather Financial Resources.
While keeping your outflow fluid, it is also essential that you have solid back-up resources when it comes to your finances. In the event that you are unable to sustain your cash outflow vis-à-vis your cash inflow, having alternative ways to gather up finances is very important. One best way is to strengthen up your credit rating. To be assured that in the event that you will need additional capital, having the ability to secure loans is very important. When a calamity happens or an economic bump is underway, being among the first on the list of qualified businesses that can avail of assistance, whether from a private or government agency is great for your business. Keeping close ties with other business owners is also one great mode of securing your financial fluidity.

Innovate.
There is no sense arguing about all industry being saturated already. The business world is, no doubt, highly-populated already; both with big and small players. There is no way that your venture will be successful unless you are able to provide a new and fresh offers and contribution to your industry. If you cannot offer any innovation, then you will be among the thousand hopefuls whose dreams were turned into nightmares. It is important that you will be able to offer new and exciting stuff to your target market. Whether it is a new marketing strategy or a unique brand, the key is to be perceived different. If you will just follow the leaders in your industry or plans to duplicate one company’s success, the likelihood of getting your own success will be very remote. And if for some luck you did get successful by reproducing other’s triumph, it is expected that unless you innovate, your success will not last for so long.

YES! Delegation is one of the most imperative management skills. Good delegation saves you time, develops you people, grooms a successor, and motivates. Poor delegation will cause you frustration, demotivates and confuses the other person, and fails to achieve the task or purpose itself. Here are the simple steps to know  when your delegation is a success:

Successful Delegation is when you……

Describe the responsibilities included
Does it meet the criteria for delegating? Validate in your own mind that the duty is suitable to be delegated.

Choose the individual for your project
What are you going to get out of it? What’s in it for you? What are your reasons for delegating to this person?

Evaluate capability and trainings needed
Is the other person or team of people competent for  the task? Do they recognize what needs to be done. If your answer here is NO then, you can’t delegate.

Clarify the reasons
You must clarify why the job or responsibility is being delegated to that people or person. Why to that person or people? What is its significance and relevance?

Point out the essential results
What must be achieved? Clarify understanding by getting feedback from the other person. How will the task be measured? Make sure they know how you intend to decide that the job is being successfully done.

Concur the deadlines
When should the job be finished? Or if an ongoing duty, when are the evaluation dates? And if the task is complex and has parts or stages, what are the immediate ?

At this stage , confirm understanding with the other person of the previous points, getting ideas and interpretation. Scheme of checking and controlling must be agreed with the other person. As well as showing you that the job can be done, this helps to support obligation.

View on results
It is necessary to let the person know how they are doing, and whether they have achieved their aims. If not, you must evaluate with them why things did not go to plan, and deal with the problems.

Follow these simple steps and dive right into delegation. As you become more successful in delegating, you will feel more certain in adding to your “Stop Doing” list. Then use your time on something much more impactful for your business, or much more pleasurable for you.

Make the Clock your Best Companion
Managing time is not easy specially that Christmas  season   is  fast approaching. It is not flexible, it is not negotiable and it is definitely not infinite. When it comes to time management, you have to make adjustments. The idea is to maximise whatever is given you. Instead of working against time, make it work for you. Here is how:

Set your priorities. Initially, you have to determine what your goals are. Always bear in mind that when it comes to time management, it is not only the time allotted to your business will be considered. In setting priorities, it is important that you have factored in the amount of time you are willing to utilise for business purposes vis-à-vis the time that you are dedicating for your personal and social life. Since your 24 hours per day includes the time to spend for personal and social matters, it is essential that the amount of hours you commit to your business is firmly set. You should be definite when it comes to setting your priorities; this means that if you prioritise your work over family and personal activities, make sure that you will adhere to it as planned. Otherwise, it is best to check which among these choices your real priorities are.

Create a schedule. A schedule is your daily, weekly, monthly and annual road map in achieving your dreams. Once you have formulated a schedule, make sure that it has ways and means in which any future deviations can be rectified accordingly without making any noticeable impact on the plans that was previously set. Schedules must be practical, humane and realistic.

Determine your capabilities. With limited time, it is so easy to see if a certain schedule or plan is doable; otherwise you are fooling yourself in believing that you can magically perform physically and mentally impossible tasks. To consider performing errands that requires you to be in two to three places at the same time is absurd. Multi-tasking is not only a waste of energy it also depreciates the quality of work that you will deliver. Trying to squeeze in a lot of information in your head in a limited time is also consuming, mentally and health-wise. Know what your body is capable of doing given the limitation of time and choose the things that need your attention. Do not attempt to become a super-businessman; even Peter Parker who has super powers cannot cope up with the high demands of being super, what made you think that you can do better than him.

Look for alternatives. If there are things that need to be done given the limited time, there are practical ways to deal with it. You can re-plan your activities in such a way that you will give extra time to your business and taking away some time allotted to other aspects of your life, you can rearrange your activities by removing less important matters to your schedule or you can get extra help. Either ways, the idea is to find a solution that is economical, physically-possible and one that will not put at risk your welfare, your health and the future of your business.

Delegate. Acceptance that you cannot do everything is vital to be able to lead well. Having so many limitations makes it impossible for anyone to do a “one-man” show and become successful. While it may give you a lot of peace of mind knowing that you are able to greatly perform tasks based on your own standard of greatness, you can actually accomplish more by delegating other stuff to others. This will be possible if you are able to train them to think and do things the way you will. Proper delegation involves being able to delegate the tasks accurately with set expectations and troubleshooting methods in case the expectations are not met.

To achieve everything you are capable of achieving, and to be able to concentrate on those few tasks that can make the greatest contribution to your life and work, you must become excellent at delegation. Whether you are a boss or an employee, it is a universal key to success. You must be continually seeking ways to outsource, delegate and get other people to do things that pay you a lower hourly rate than you desire to earn.

There are several ways that you can become more effective at delegating and outsourcing, or hiring other people to do parts of your work so that you can do the parts of your job that pay the most.

When to Delegate

1. Instead of You?
Ask the question, “Who can do this job instead of you?” Remember, you have to delegate everything possible in order to have enough time to do those few things that are most important.

2. Better than You?
You should ask, “Who can do this job better than me?” One of the characteristics of effective managers and successful leaders is that they have the ability to find people who are superior to them in specific tasks. You should continually be looking for people who can do certain parts of your work better than you.

3. At a Lower Cost?
Evaluate the job and ask, “Who can do this job at a lower cost than me?” Many companies and individuals are finding that they can outsource major parts of their operations to companies who specialize in that area. Companies that specialize in a particular function can usually do the job cheaper and faster than a company that does that work as part of its other activities.

4. Can It Be Eliminated?

Ask yourself and others, “Can this activity be eliminated altogether?” What would happen if the job were not done at all? Many of the routinized tasks and activities in a company or business could be quite easily eliminated with no loss of productivity and great increases of ineffectiveness.

It is amazing how many activities go on in business and private life that could be quite easily discontinued completely, with no loss or inconvenience to anyone. Rooting out these opportunities for increased efficiency can dramatically nd profitability for an organization or department.

Six  Ways  to successful Delegation
To delegate effectively in your work with others, there are six steps that you can take. If you neglect any one of these steps, you run the risk of miscommunication, misunderstandings, demoralization and poor performance.

1. Match the Person to the Job
Match the person to the job. One of the great time wasters in the world of work is delegating the task to the wrong person. Often the task is delegated to a person who is not capable of doing it properly or getting it done on schedule.

The only accurate predictor of future performance is past performance. The rule is that you never delegate an important task to a person who has not performed that task satisfactorily in the past. It is unfair to expect a person who has not done a job before to perform at a sufficient level of quality when they are given the job for the first time.

2. Agree on what is to be Done
Once you have selected the right person for the job, take the time discuss the job with that person and agree upon what must be done. The more time you take to discuss and agree upon the end result or objective, and achieve absolute clarity, the faster the job will be done once the person starts on it.

3. Explain How the Job Should Be Done
Explain to the person your preferred approach or method of working. Explain how you would like to see the job done, and how you or someone else has done it successfully in the past.

4. Have Him Feed It Back
Ask the person to feed your instructions back to you in his or her own words. Have him or her explain to you what you have just explained and agreed upon. This is the only way that you can be sure that the other person actually understands the job or assignment that they have been delegated to accomplish.

5. Set a Deadline
Set a deadline and a schedule for completion of the task. At the same time, arrange for regular reporting and for periodic inspection. Invite feedback and questions if there are any delays or problems.

6. Manage By Exception
Manage by exception whenever possible. Managing by exception is a powerful time management tool that you can use to work more efficiently with other people.

If the job is on track, and on schedule, managing by exception means that the person does not have to report back to you. If you don’t hear from him, you can assume that everything is going well. The individual only has to report back to you when an exception occurs and there is a problem with getting the job done on time, to the agreed upon level of quality. However, it is imperative that the person should always report  what  he or she has done at the  end of the day for your track.