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Balancing Management When Starting a Business -- What to Look for in Key Staff

The best run organizations have one key aspect in common -- a solid balance of entrepreneurial, management, and operations capabilities. Whether these characteristics are well-developed within a solo leader or within a management team, ensuring each perspective is heard is essential. As the owner of your business (or founder of a nonprofit), it is important to acknowledge your own abilities and deficiencies and to work to build a complete triad within your organization.

Entrepreneurial traits tend toward the big picture. They have big ideas about where the venture can go and what can get done. They are less inhibited by pesky details. They are usually creative, in terms of coming up with innovative methods or procedures, and often enjoy change.

Managerial types are very skilled in the fundamentals of business. They are adept at looking for patterns in past performance and analyzing results. They can identify problems or opportunities based on what has already happened, and can be reticent to make any drastic changes, especially if things are going well enough.

Operations-focused folks are in it for the day-to-day. They are dedicated to the work that is done, as it is done. If changes are made they are adaptable, but they aren't likely to go looking for things to change.

A management team heavily weighted with any of these perspectives will likely struggle at some point in the organization's development. A dominant entrepreneurial bent often lacks focus and fails to identify small, current problems until they are blown out of control. Too much focus on management misses the forest for the trees -- opportunities are missed and threats are unacknowledged. Too strong on the operations side and the day is spent firefighting -- solving unseen and unexpected issues -- and there is little room for innovation or improvement overall.

Identify Your Role

The first step to ensuring your organization avoids the unbalanced issue is to realize your own place in the triad. Once you know where you stand, it is easy to identify what you need. In many cases, a little effort can help you become more balanced within yourself. If you are weak in the management area, learn all you can about business fundamentals. If you are not an expert in the operations of your business, become one. If you lack the habit of thinking big and looking to the future, read articles by and about those who are on the cutting edge. You may not ever become the zen master of balancing these traits, but you will at least have a healthy respect for the value of each perspective.

Select for Key Positions

Once you are aware of your own strengths and limitations, look to fill the positions around you with people who provide another view. Do not fall in to the trap of surrounding yourself with others just like you -- a bunch of yes-men might build your ego but they won't build your business! Look for staff who will bring different ideas and opinions to the table, and won't be afraid to speak up. Develop a list of qualifications for every hire before you begin recruiting. Know what you need, and only hire to fill those needs. This isn't to say that your "gut feeling" about an applicant should be ignored, but hiring without a clear purpose usually backfires.

Strike a Balance

Every successful business strikes a balance among the big picture, business fundamentals, and the day-to-day tasks. The key for any legitimate leader is to be aware of your own perspective, then find and maintain a balance of the three traits within the highest levels of the organization.

About the Author

LaunchX.com is dedicated to training entrepreneurs to turn their good ideas into great companies. The LaunchX System provides step-by-step education in the mindset and skill set entrepreneurs need to succeed. Our program includes intensive seminar training, key business software, and specialized workbooks that teach you the fundamental skills you need to achieve your financial and worklife goals through entrepreneurship. Register today for our introductory course and see what LaunchX can do for you!