Author: Russell C. Lindsay, CPA
November 21, 2017
Are you the owner or manager of a small business? Do you struggle with day to day management of the people within your organization? Are you like some small business owners’ where you wear 10 different hats every day? Are you looking for a way to unlock the potential in your team?
I don’t know if this describes you? But I do know the majority of small business owners’ want to be successful. They appreciate the customers they serve. They value their teammates work day in and day out. But when it comes to organizing the talent within their organization they try their best but sometimes come up short or face hurdles they don’t know how to overcome.
I am a Certified Public Accountant (CPA) and Business Advisor. At our firm, we work with small business owners who are looking for trusted advice on how to run their organization efficiently and effectively. For more than 10 years we have helped coach our clients’ in the development of their organizational structure, key performance indicators, processes, procedures and strategies; the goal is to empower their team to help take their business to the next level. In working with small business owners, we’ve found 6 Key Ingredients to Small Business Success from an Organizational Structure standpoint and those are:
1. Organizational Map - What are the key functions of company operations? How do each report to one another? What are the relationships between these areas of operation?
2. Job Descriptions – Who are the managers, supervisors, and professionals? What are the reporting relationships? Are there any physical, intellectual, skills, duties and responsibilities key to this position? How do you measure standards of performance for each function?
3. Tasks and Expectations - What are the roles and responsibilities of each job? Are these clear and easily understandable? Are there steps in place to ensure accountability across the board between management and team?
4. Measurable and Objective Job Performance framework – How is each position measured by success or failure? What is in place to encourage continuous improvement and growth?
5. Information Guidelines - Is there an Employee Handbook? Does it clearly outline the policies, procedures & protocol for your organization? How about no-no’s, what are the prohibited behaviors?6
6. Incentive-based Compensation System – How are employees rewarded for performing above and beyond the normal job? Is there a profit sharing program in place to allow the team to participate in the company’s success?
The Winning Strategy
You are not alone. All businesses experience growing pains and challenges when it comes to managing people and effectively managing their organization.
Think of your favorite sports team. They have coaches for various players, positions, and teams. These coaches build trust, mentor and guide the players to optimal performance. Just like sports teams have coaches so do many successful business owners.
Is your business lacking any of the 6 Key Ingredients mentioned earlier? Do you know what areas of the business you want to improve? Are you ready to partner with a coach and advisor who can help you get where you want to go?
When you went into business for yourself you went for it. What are you waiting for? Hire a trusted advisor to help you improve your organizational structure and the overall performance of your organization.
Does any of this ring a bell with you? Not sure where to start? Give Russell a call or send him an email.
(352) 369-1120 or firstname.lastname@example.org