Starting your own company is a challenge that offers the possibility of freedom – finally, you can be your own boss – and profits – you’re not working to help someone else to get rich. But with the prospect of entrepreneurship comes a new obstacle on the path to success, namely managing others. If you’ve always worked as a member of a team, you might not have sufficient experience to be comfortable in a position of management.
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However, you can’t become an entrepreneur without supporting the growth of your company, and this includes more often than not hiring a team. Most solo entrepreneurs confess that they struggled to adjust when the time had come for their company to fire the first employee. Indeed, the challenges of managing a business are not the same when it comes to managing your employees. It’s normal to feel vulnerable in this role. But don’t worry; here are a few handy tips to help you navigate your new responsibilities.
Prepare to tackle your stress
Running a business can be stressful. Running your own team is a different kind of stress. Don’t underestimate how this can affect you. Most managers agree that work-related stress and conflicts can be overwhelming if you’re not prepared for it. In other words, you need to take steps to reduce your stress level before it affects your health and your social relationships. Something as simple as taking a few breaks at work – of 10 minutes – to have a coffee or stroll around the office can make a significant difference at the end of the day. It’s not easy to book a holiday to recharge your batteries when you’re in the midst of a hectic schedule. But you can make room for regular breaks and rest evenings to maintain your mental health. Additionally, being a manager doesn’t mean that you should do everything by yourself. You can delegate tasks to your team to give yourself the time to focus on defining the best direction.
Keep yourself updated on business trends
You can’t afford to ignore what other businesses are doing. While keeping an eye on the market and running yearly market audit is a must-have for most entrepreneurs, they tend to forget to keep track of the relevant information in the management world. For instance, you can’t effectively run a team without following the latest best practice models and tips from a reputable HR blog – especially if you’re completely new to the management side of the business. Similarly, you need to stay up-to-date with the latest trends of your specific activities. As a marketing manager, for instance, you should know which blogs and forums to follow. You will find similar solutions in IT, healthcare, technology, industry, and catering.
Boost your self-esteem with a course
There will be situations where you’re not sure how to react. How to best address communication issues or personal development within your team? If you find yourself googling the answers, maybe it’s a good idea to take a quick online course to help you with your new function. You don’t need to join an online university to pass a degree on management. But a simple overview of your tasks and some of the best practice approaches can change the way you approach your job. Udemy offers short and straightforward courses for less than $20, for instance.
Don’t be afraid to ask for feedback
When you’re a manager, you can never know how you’re doing. In truth, you can’t expect your employees to feel confident enough to open up about issues with your management style. But you can find the best way to become a useful boss to them by asking them simple questions about their day-to-day tasks. From discussing their latest wins to their biggest obstacles, you can gain an overview of where your support is needed. You can also try to address how they’re feeling in their role, which is essential to bring cohesion to the team.
Avoid costly mistakes for your business
Last, but not least, you need to know that bad bosses exist. You might not be aware of it, but your management style could affect your team negatively. One of the most common reasons for employees to quit their job is because of conflicts or difficulties with their manager. Therefore it’s vital for your business to be able to stop yourself from making costly mistakes. For instance, while it’s fair to delegate some tasks to your team, you need to ensure that you don’t overwork your team either. Similarly, if you’re more of a doer, your employees might feel as if you didn’t trust them with their jobs.
Managing people successfully is a learning process. You might not become the dream manager overnight. But being aware of your issues and understanding how to tackle them best can help you to develop a trust relationship with your employees and encourage productivity.
