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    Entrepreneur Voices on Strategic Management
    Entrepreneur Voices on Strategic Management
    Entrepreneur Voices on Strategic Management
    Ebook180 pages2 hours

    Entrepreneur Voices on Strategic Management

    By The Staff of Entrepreneur Media and Riaz Khadem

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    About this ebook

    Everything You Need to Know About Managing Your Team

    As a manager, you tend to walk a tightrope with executives on one side and employees on the other. But while managing personalities, team dynamics, and company culture aren't your only responsibilities, they are vital to the well-being of any company. To help you boost productivity and find the right management style for you, the staff of Entrepreneur helps you tap into the expertise of over 20 contributors and learn how to:


    • Delegate the right jobs to the right people


    • Decentralize management and boost employee productivity


    • Promote accountability with remote and in-house staff


    • Motivate your team with radical candor and genuine appreciation


    • Create a culture that fits your brand and management style


    • Supervise a staff without breathing down people's necks


    Plus, get an inside look at the management styles of Karim Abouelnaga, founder and CEO of Practice Makes Perfect, Dr. Riaz Khadem, founder of Infotrac and author of Total Alignment, Chung-Man Tam, CEO of Homesuite, and Glenn Llopis, chairman of the Glenn Llopis Group and author of The Innovation Mentality.
    LanguageEnglish
    PublisherEntrepreneur Press
    Release dateFeb 13, 2018
    ISBN9781613083789
    Author

    The Staff of Entrepreneur Media

    For more than four decades, Entrepreneur Media has been setting the course for small business success. From startup to retirement, millions of entrepreneurs and small business owners trust the Entrepreneur Media family; Entrepreneur magazine, Entrepreneur.com, Entrepreneur Press, and our industry partners to point them in the right direction. The Entrepreneur Media family is regarded as a beacon within the small to midsized business community, providing outstanding content, fresh opportunities, and innovative ways to push publishing, small business, and entrepreneurship forward. Entrepreneur Media, Inc. is based in Irvine, CA and New York City.

    Read more from The Staff Of Entrepreneur Media

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      Book preview

      Entrepreneur Voices on Strategic Management - The Staff of Entrepreneur Media

      PREFACE

      MANAGERS: MAINTAINING A DELICATE BALANCE

      Modern-day managers are not in an easy position and hence often do not receive the credit they deserve. Managers walk the tightrope between founders, owners, and other higher-ups on one side and employees on the other—not to mention customers who typically turn to a manager when there is a discrepancy but rarely say, job well done.

      Despite maintaining this delicate balance, a good manager can stand out on both sides of the equation. In fact, leadership depends on good managers: the two go hand in hand. Employees benefit from good managers who go beyond assigning tasks and provide a reason and a purpose behind their requests. The best managers see the vision of the owner(s) and bring it to life by training, developing, nurturing, supporting, providing feedback, and encouraging employees. The owners and the CEO have long-term plans, but the manager must make those plans a reality with the help of a strong, enthusiastic team.

      For years, managers were supposed to focus more attention on the structure, systems, procedures, and tasks at hand. Business leaders would set the course, and the managers had to guide the vessel forward at all costs. That is no longer how managers define their jobs. In the current state of business (at least in most businesses), effective managers play an integral role in leading their employees by actually connecting with them—not just the roles that need to be filled or the tasks that need to be completed. As a result of this more humanized approach, employees respond to more relatable managers and perform at a much higher level.

      Managers still need to keep a close eye on the ROI and a wide variety of metrics for monitoring the financial well-being of the company. But the position has expanded significantly into a leadership role in which a manager can excel by effectively understanding, communicating (which includes listening), motivating, and evaluating everyone working for them. This includes providing a range of feedback, from constructive criticism to praise. It also covers knowing how to get the best out of people by recognizing their similarities, differences, and unique capabilities in addition to their shortcomings. Managers who understand which people excel, or fall short, in specific areas can use that knowledge wisely and get the best out of each person, not unlike a baseball manager who knows who should play shortstop, centerfield, and catcher.

      In the upcoming articles, there is a strong emphasis on the human side of management. After all, technology notwithstanding, people remain at the core of all business. From understanding the impact of the right culture, to knowing how to give feedback, to transparency, diversity, and accountability, managers need to know a lot to succeed today. Good managers try to learn and juggle all these areas. Great managers have already mastered and embraced them.

      PART

      I

      MANAGING YOUR EGO

      The modern-day manager needs to know how to manage those who are close in physical proximity and those working from remote locations. The trick is to find a balance between using a telescope and a microscope. The manager who is too far away from what is taking place in the office is usually unable to communicate effectively or too late on timing when it comes to vital day-to-day decisions.

      Conversely, being too close is not the way to encourage trust or autonomy or build confidence. Micromanagement is the destroyer of momentum, writes Miles Anthony Smith in his book Why Leadership Sucks Volume 2, and he is right. The result of living in a free country is that people, by and large, do not like being controlled, and micromanagement is business-speak for too much control. Employees need to recognize the need for authority and acknowledge guidelines and rules because disorder and chaos are unwanted. But when it comes down to control, most of us draw a mental red line.

      Of course, managers who are controlling are not always aware of their actions. Micromanagement is often ego-driven, but for that matter, so is delegation. Micromanagement usually means you think nobody can do it as well as you, and the inability to delegate means the same thing. Managers must, therefore, get over it when it comes to their own ego-centricity. Of course, this is easier said than done. While many individuals can take a closer look at themselves in the mirror and do a self-assessment to find their shortcomings or weaknesses, truly ego-centric managers may see someone doing a great job, even if that is not the truth. We can all think of individuals who stood in their own way of success, because everything was all about them. Even if things are going poorly, they don’t see it. The bottom line is that at some point, the manager will need to be told they have to shift gears and focus their attention on the team.

      A manager needs to explain tasks, especially when technology is involved, and they need to explain the desired outcome. They need to communicate what is needed and when, and for greater clarity, why the task is necessary in the bigger picture. A manager needs to know when to exercise self-control and not be impulsive, as well as when to step away and let the employee(s) do their jobs. If they were hired for their expertise in the field or trained sufficiently in-house, they should be able to run with the ball.

      Resisting the tendency to micromanage, as well as knowing when to delegate, comes from a degree of trust. Do you trust that, left on their own, the individual(s) you supervise can complete the task or not? If you, as the manager, need to be involved every step of the way, you are never going to find out if they can or cannot handle the job. At some point in the process, you will need to let go, just as parents need to take their hands off the bicycle and let their children ride without training wheels. It’s worth noting that trust issues usually stem more from the manager than the employee. Unless someone has given you clear-cut reasons to mistrust them, you need to be able to let go of that bicycle and let your employee ride. If they fall, guess what? They’ll get up and try again.

      When it comes to delegating, you also need to harness your ego, or at least tell yourself, If the team succeeds, I can enjoy their success. Remember, delegating is also all about trust. Can someone do the job as well, or almost as well, as you can and get the same results? If so, then delegate the responsibilities to that person and free yourself to do bigger and better things for the business (OK so that’s a little ego-stroking, but it’s also true).

      CHAPTER

      1

      SEVEN WARNING SIGNS YOU’RE THE DREADED MICROMANAGER

      Aaron Haynes

      Micromanagers are notorious for causing high-stress levels, low morale, loss of productivity, and dread in the office, among other negative repercussions. In fact, they are every employee’s worst nightmare. A micromanaging boss kills efficiency with outdated, self-centered, and underdeveloped management methods.

      But to be fair, no manager is queuing up for this undesirable role. In fact, most fear turning into a micromanager. The line between an efficient manager and a micromanager is sometimes blurred, and it’s easy to cross it, unaware you’re on a slippery slope to becoming a dysfunctional boss.

      Let’s look at the signal characteristics of a micromanager in the making:

      1.You’re scared of losing control. Because of your need to control, you’re obsessed with knowing what staffers are doing, and everything must be done your way or you’re not satisfied. Therefore, you often call back work you assign because it’s not up to your standards. On top of that, you dish out instructions but make it impossible for your team to input their own ideas. As a result, you stifle their creativity, communication, and self-development, while leaving no option for effective productivity. Holding on tightly to control out of fear will eventually cause you to lose it in the end.

      2.You alone have the best approach to every task. Believing you know best, you view your employees’ work as inferior. Therefore, your actions scream that their work is substandard, a strong sign that you’re micromanaging. You don’t give them the opportunity to use their skills, talents, and know-how. Instead, you implement all the ideas, take control of communicating with clients, and make decisions based on your knowledge. Believing you have all the answers for resolving tasks, you work on them solo. This attitude pushes employees aside, causing them to doubt their own capabilities.

      3.You’re itching to lead. Leading is not a bad thing. On the other hand, a forceful boss who is unwilling to negotiate, who is always interfering, and who is unable to offer flexibility is a poor leader. Continual interference is a sign you lack confidence in your employees. Nevertheless, there are times when it’s necessary to lead, especially in large financial transactions, vital decision-making, or other important business areas requiring managerial authority. However, if you’re always in the driver’s seat and find it difficult to allow employees to manage everyday tasks, this creates uncertainty and resentment. As an alternative, train staff, build trust, and support them.

      4.You suspect everybody wastes time and resources. One of the most annoying traits of a micromanager is their suspicion. Because you suspect everyone is either wasting time or company resources, you are always prying. You command a detailed record of phone calls, meetings, spending, tasks, or anything else you think could be wasted. This obsession brings stress on everyone. Constantly judging and prying will eventually create lack of faith in you and drive employees out of the company.

      5.You organize endless, unnecessary meetings. Micromanagers use any excuse to call for a meeting. Usually, these meetings are nothing to do with work productivity. They are a pretext for finding irrelevant faults. Or you attend meetings to get your points across in discussions that don’t require your presence. Another sign is insisting all employees attend meetings, whether the topic is relevant to them or not. Unnecessary, drawn-out meetings end up wasting precious time, cutting into efficiency, and breeding confusion.

      6.You second-guess the practice of delegating. Everyone has the same amount of time during the day. However, your time seems less than others. Could this be because you don’t know how to delegate? Each day, you’re overloaded with trivial tasks and projects that rarely get completed. Lack of delegation and communication with your employees forces you to micromanage rather than distribute responsibilities. Instead

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