I was actually thinking of how best to start this piece. However, I encourage you not to give up yet!!! I understood that combining entrepreneurial responsibilities with managerial duties is not easy. That is why every entrepreneurial should understand that the road to the top is not easy as we often expect. For you to be reading this piece is a clear sign that you are on your way to success. Remember, “When the going gets tough; the tough gets going.”
I will be providing answers to some managerial questions asked by some entrepreneurs today. However, this piece is for you if you answer yes to any of the following questions:
Is your business stagnant?
Are you losing customers?
Are your staffs or workers not delivering? Or
You are not making enough sales.
The simple truth is that successful entrepreneurs adopted some special managerial skills keep things moving the right way.
Today, I will share with you the five special managerial skills of some successful entrepreneurs.
- Valuing Assets: one of the special managerial skill adopted by successful entrepreneurs are placing values on their assets irrespective of the actual, true or real price of the assets itself. The value in this contest is the worth place on the assets. Even if the assets cost $5; they will still place some value on it. Not because of the price but because of the usefulness of the asset.
Successful entrepreneurs believes that what you place value on will take your attention and whatever takes your attention you will care for; whatever you care for; you will maximize. Successful entrepreneurs placed value on their assets so that they can care about them in other to maximize their use.
- Consistent Business Meeting: As an entrepreneur, it is important that you have consistent business with your staffs or workers. This was something I found out in my research on Google. It was shocking to know that Google CEO’s hold business meeting every Monday. If Google does, who are you?
This meeting will help you to review your past week and project into the future. It will also help you to see what works and what is not working. Don’t forget building a successful business is not all about you alone.
- Giving Incentives: This is one of the best ways to motivate self, staffs or customers. This is very pertinent because we all love to be appreciated. If you have not being appreciating yourself, staffs or customers; please start doing do. That is why you see some company sponsoring their CEOs vacation trip abroad. Giving recognition and award to staffs is another incentive.
There are different forms of incentives; a simple thank you mail or a birthday wish is all your customer required of you.
- Encourage Staffs Development: How do you expect your staffs to give you their best when you did not give them room for improvement or development? Everybody loves to be better than yesterday. You cannot fool your staffs; if they did not see your unique interest in their development they will never give you their best.
However, you need to understand that one of the ways to encourage development is to give them rooms to make mistakes and correct them in love. Help them to develop themselves in making some little business decisions. This will help them to trust you more and invariably make them loyal to you.
- Be Calm With Problems: Successful entrepreneur knows how to handle problems; they do not entertain fear. They understood that your first step to overcoming business challenges is CONFIDENCE – if you lose your confident over a problem; you have already lost to the problem.
You need to understand that when you are calm your staffs too will be calm. More so, it is in your calmness that you can fine solution to the problems. Successful entrepreneurs understood you cannot make any serious decisions when you are unstable, confused or anxious.
Remember, the way you handle the problem either made it a good problem or a bad one.
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