Do you find that when you try to step away from your business and rely on your staff that they don’t seem to have the same level of commitment that you expect of yourself. That sales order that you would have made sure went out today goes out tomorrow because the staff member had to go home ? When you employ staff to perform tasks that you used to perform yourself as a business owner, your business has reach a new level, and your skill set needs to move from supervising tasks to setting the scene and establishing goals.
The key element of staff performance is motivation, why do they want to work for you ? Each staff member brings to the table their own set of goals and aspirations – family, interests, development, which may not be consistent with your own goals. Having goals and values that are aligned will be the key to your success in moving forward from this point.
Many issues leading to poor staff performance stem from poor communication. You cant expect a staff member to do something if you have not asked them to do it, or they havnt understood clearly what you have meant. Similarly, you wont achieve your own business goals if all of the individual goals you give to staff members don’t add up what the overall business goal is. Providing staff with clearly understood goals and objectives that add up to your overall business goals and objective is key to success.
A well-constructed financial plan which has been built up from your key business metrics or Key Performance Indicators (KPIs) will enable you as a business owner to provide staff with operational and financial goals which will add up to your overall goals. If you monitor these KPIs effectively, you know your staff are performing and you will achieve your goals. You will also know when your staff are not performing and have the information on hand to use as a basis for those difficult conversations.
Do you have a financial plan that is effective in helping you to run your business ?