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Managing your business!


In brief, Wikipedia defines Management as the act of coordinating the efforts of people to accomplish desired goals and objectives using available resources efficiently and effectively.

Management comprises planning, organizing, staffing, leading or directing, and controlling one or more people. Since organizations can be viewed as systems, management can also be defined as human action, including design, to facilitate the production of useful outcomes from a system.

This view opens the opportunity to 'manage' oneself, a prerequisite to attempting to manage others.

Where can SCORE help in this area? Since virtually all SCORE mentors have been ‘management’ at one time or another (very often as an owner or executive level), and they have practical insights that can help. A sampling would include:

• Strategy - Overall business strategy – defining what you are ‘about’, your business ‘mission, vision and values’

• Structure - Choosing a Business structure and creating a working ‘organization’ chart

• Human resources – hiring right, firing, and counseling, conflict management; identifying the missing pieces and the skills that are needed to fulfill them

• Compensation – salaries, incentives, sharing ownership, etc.

• Finance and operations – measuring business success (Key metrics) and system and process design

• Prioritizing business activity – what is the ‘order’ of activities needed for success; ‘first

things first’

• Crisis Management - Dealing with crises such as big gains (or losses) in business, business losses, cash flow management

• Leadership during change – key staff additions and departures, mergers and acquisitions

• Structuring relationships and communications with employees, vendors, bankers, investors, etc.

The list goes ‘on and on’. Simply put, it’s quite helpful to have an ‘experienced’ objective coach to help you in your decisions – whether for ‘one-time’ events or on a continual basis. In addition, there are numerous articles and businesses for you to check out under ‘tools and templates’ section of the website.

For more information on running your business, check out the articles below:

Strong Boss versus Weak Boss or (How to be a Better Manager) 

Three Ways to Increase Your Sales and Grow Your Business

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SCORE mentors are helping me focus on the issues that I need to address in order to enhance my mosaic art business.
Betsy Gallery, Owner
Elizabeth Gallery Moziacs