The 10 Golden Rules of Effective Management6:43 PM
Any business leader must know how to raise creativity and maintain a competitive advantage. Martha Stewart gives you her tips to improve yo...
Any business leader must know how to raise creativity and maintain a competitive advantage. Martha Stewart gives you her tips to improve your effective management skills.
Martha Stewart is considered one of the most famous entrepreneurs in the world, as such was included in the list of the hundred most influential people of Time magazine in the category of builders and titans. As part of his work, he has written a book where he shares his original principles, practical ideas and all the secrets of his success.
From that text, we came up with a list of 10 rules written by Stewart, which according to many experts will be very useful for managing business success.
The ten rules refer to the passion for the work each one does, the need to concentrate on an excellent idea, invite to develop a robust but flexible business plan. Suggest sharing knowledge with clients, develop promotions that are cost- Effective, always striving for quality, hiring talented employees and building work teams of excellence, getting the best of challenging situations, taking risks and making the lives of customers more meaningful and also more beautiful.
How to improve leadership and management skillsIf you want to become a successful leader, management skill is essential to take account and achieve your goal. Below are ten advice from Martha Stewart on how to develop leadership skills.
Here we explain them all in detail:
1. The passion.Passion is the essential ingredient for planning and starting a business. Without passion, work is just a task. To discover our passions, it is necessary to look in the mirror, analyze our interests, strengths and weaknesses and our desires.
Become an apprentice and learn all you can from your mentors. Your passions will amplify yours. Do not confuse passing enthusiasm with passion.
2. The great idea.Think big and concentrate on what people need and want.
- Is your idea better than other alternative approaches available in the market?
- Is your idea simple to be developed and straightforward so that consumers can understand it?
- Your geographic location, will allow your plan to work?
- Is it you Is your idea too big?
- Can you expand and extend your idea?
3. Telescope, wide-angle lens, and microscope.You need a telescope, to keep the future in your mind and to draw up a long-term business plan that lets you know where you want to go and how to get there.
You need a wide-angle lens to evaluate the broad landscape in which your business will operate: competitors, social and economic trends, supplier and production issues.
You need a microscope because every so often you must stop at the details and deeply understand the mechanics of your business.
Ask for help, save money, consider risks, create a culture of frugality.
4. Teach to learn.Ask consumers for ideas and advice to make sure the product meets customer needs. Remember that consumers are your best advisors. Think like you're a consumer. It extends the impact and influence you have on the lives of consumers, beyond the first transaction.
5. Well dressed and ready to grow.Once you have completed your research, formalized the business plan and are ready for the launch you will need to get the word out about your new product or service.
Ask yourself: is there a particular problem that affects people and that your business helps solve? By promoting: it personalizes and offers a consistent, clear and compelling message.
Position the product in such a way that it defines what is different from other commodities, which determines its value and the characteristics of consumers.
6. Quality.The quality should be placed on a pedestal. Quality refers not only to product development but also to reputation.
All businesses have standards of excellence, and it is necessary to know what quality means in each category.
7. A top-notch team.Make a team of informal advisers among your friends and family, but remember that you will also need people with specialized knowledge and skills.
Find advisors (accountants, lawyers, etc.) and partners who complement your skills and understand your ideas.
Remember that not always a good friend is a good partner. To choose it, you must be realistic and objective. Never hire the first person you interview, consider several candidates, check the references and make sure all the employees involved know the candidate.
Search and hire talented, energetic, upbeat, intelligent, optimistic and generous employees.
8. If the cake is not perfect, cut it into portions.When things do not look excellent, sometimes it is necessary to decide what to keep and what to discard.
9. The risks.Doing business means taking risks, diagnosing risks and managing risks. The most important risk is the financial risk. It is important to remember that there are no unique opportunities in life.
People from the business world without experience believe that if they miss an opportunity, they will regret the rest of their lives. But rarely is this true.
10. The beautiful.It does not matter if it's product, a plan or a project. This should be a phrase every entrepreneur should remember and repeat. You will get many satisfactions if you do something good, something worthwhile, something useful and practical, something valuable and something beautiful.
Also read: How to Quit Your Job and Start Your Business in 90 Days
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