Build a Management Team on a Budget

November 9th, 2018

Building a Great Management TeamAs your business grows you’re going to need more manpower, so you can continue to delight your customers.

You need to build a strong team and that includes an expert management team.

As a small business owner, you’ll probably be used to doing everything yourself but that’s very expensive. You’re far too valuable, to the business, to be packing boxes or reconciling the accounts. Anything you can get done for less than £57 an hour is better than you doing it yourself. As I explained in my coaching book, The Grown-Up Business, that way you’ll be earning £100,000 a year

As well as extra pairs of hands, you need experts in the business. You won’t be able to afford a full-time management team. So, what are your options?

You don’t have to hire everyone full-time. Today many people really value flexible working, part time or ad hoc employment. Not everyone is anti-zero hours contracts!

Think about:

  • A freelancer for your marketing, content or graphics
  • An interim to help you with a predefined project for set period or perhaps to cover a maternity leave
  • A contractor for a few hours or days a week to assist with, say, your IT
  • An outsourced HR specialist you can ’employ’ when needed
  • A virtual assistant, as and when you need administrative help.

Build your team of experts; you’ll need the services of an accountant, a lawyer, a marketer, a banker, a HR professional, a coach or mentor and a sounding board!

These experts will be worth their weight in gold when translated into the advice and guidance that they can give you and your business. You don’t have to employ them permanently; just pay for the services they deliver, when they deliver them. You might want them to join your advisory board.

A great benefit is to get the experts together once a quarter to help you prepare and refine your strategy as well as assessing how the business is performing.

When you’re ready to start recruiting employees, try to find people with a great attitude and good habits. Ask yourself if they fit your culture or will they be a square peg in a round hole? Unless you are recruiting a technical expert, you can often teach new recruits the knowledge and skills they need. It’s hard to teach attitude.

But, don’t abandon them when they join, make sure you induct them well and have a plan to help them develop and grow so they add even more value to the business.

And if it doesn’t work out, act quickly. Don’t prolong the pain. Just make sure you recruit better next time.

Building a trustworthy, expert, knowledgeable and passionate team who can delight your customers time and time again is crucial to your business and well worth your time investment.

Remember good people make good businesses but

 

coachSME88

Shirley Mansfield is a highly experienced business coach and Master Problem Solver. With over 25 years’ experience, she founded CoachSME in 2011 to work with business owners to maximise growth, and she is still trying to reduce the 14 handicap! Keep up to date by following me on Twitter.