Getting Your Business Under Management

"Getting your business under management" refers to organising and structuring your business operations to enhance efficiency, ensure consistent performance, and facilitate growth. It usually involves implementing systems, and processes, that allow the business to run smoothly, even in the owner's absence.

Key Steps to Get Your Business Under Management:

1. Define Clear Objectives:

   • Establish specific goals for your business, such as revenue targets, market expansion, new products etc.:

2. Develop a Management Structure:

   • Create an organisational chart that defines roles, responsibilities, reporting lines & guiding metrics

3. Implement Standard Operating Procedures (SOPs):

   • Document processes for key functions (e.g., sales, customer service, finance) to ensure consistency and quality.

4. Use Technology and Tools:

   • Invest in management software (like ERP or CRM systems) to streamline operations, track performance, and enhance communication.

5. Regular Performance Monitoring:

   • Establish key performance indicators (KPIs) to measure success and identify areas for improvement.
   • Schedule regular reviews to assess performance against goals.
   • Implement a meeting cadence so key metrics are reviewed, considered & discussed every week 

6. Empower Your Team:

   • Delegate decision-making authority to managers and team members, fostering a sense of ownership and accountability.
   • Encourage professional development and training to enhance skills and capabilities.

7. Foster a Positive Culture:

   • Promote a company culture that aligns with your values and encourages teamwork, innovation, and transparency.

8. Financial Management:

   • Implement budgeting and forecasting processes to monitor financial health.
   • Regularly review financial reports to make informed decisions.

9. Create a Communication Strategy:

   • Establish regular communication channels for updates, feedback, and team collaboration.

10. Plan for the Future:

    • Develop a strategic plan that outlines long-term goals, potential challenges, and opportunities for growth.

To get your Business Under Management, you must 'ready the role' as outlined above. 

Investors look for businesses with strong management structures and processes in place.