Great Business Management Practices

There is a lot of research about what makes a successful business manager / CEOs. Here is my perspective on some of the essential elements which are in grained in the personality of a successful business man/ business manager.

a. Strong work ethic

Practice what you preach not only applies to life but also to your work. A good business manager not only expects his employees to work hard for him but works harder than most of his employees. Generally, he would never cut corners to success and understands that anything less than 100% is not sufficient. They do not mind burning the midnight oil for their work and also ensure that they are highly disciplined about their work. To cut it short, they worship their work.

b. People management

People management is one skill which is required in all walks of life but more so in management of a business. A business manager not only manages his customers as well financiers but also his employees. It is almost impossible to find a successful business manager who is not good with people management. He has to communicate the right stuff to the right people at the right time in the right way. He needs to know how to keep his employees motivated and aligned to his goals. Besides, he should be able to delight all the other stake holders of his business to run it successfully.

c. Great listeners

Listening is a skill which needs special mention here. Listening is not just about actively hearing all the stake holders in your business and giving their views due consideration but also about trying to pick hints from the environment. A good listener listens to words as well as trends. He actively seeks information and acts upon it.

d. Amazing analysts

Successful business manager who constantly excel are always great analysts. They are able to analyze situations and trends and able to take decisions effectively to make the most of them. They can look at data/ information/ trends/ behaviors and come to the right conclusions on what is brewing. Besides, they can add the right ingredients to make the most of that condition and ensure that the business is able to capitalize on that opportunity.

e. Risk appetite

You cannot succeed at anything if you are not willing to take risk. Only those people who are willing to lose the sight of the shore can discover new lands. That doesn't mean one needs to keep taking risks every time. Businessmen have an acumen to be able to take calculated risk and have a plan to mitigate them if they don't pay off.