Tip of the Day: How to manage a company

managing a businessOutline your vision for the company. Think about the ultimate goal of your product or service.

The overall vision for the company may be to address a need, provide a service or create something new.

Generating revenue is a given goal for companies, so the vision statement should be broader than a statement about profits.

Hire and manage employees.

Advertise for qualified workers. Choose from a variety of methods for hiring new employees, such as posting Internet ads, hiring a recruitment firm, placing an ad in the newspaper or spreading the word in niche-specific networks.

To attract qualified candidates, be specific about your hiring needs and requirements.

Interview prospective employees and Put applicants at ease by being personable and communicative.

Project a professional image during the interview by being attentive and dressed in business attire. Limit the conversation primarily to business-related matters.

Familiarize yourself with employment laws. Study the requirements in your jurisdiction and industry for laws related to employee hours, breaks, tax requirements and benefits.

Decide on your management style. Empower employees by explaining tasks and allowing them to manage their duties, checking in with you for clarification as needed.

Alternatively schedule regular check-in sessions with employees to evaluate progress on specific projects or tasks.

© 2012 SAT Telecommunications Ltd.

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