Stage 1 Company (1-10 employees)
Most entrepreneurs who start companies are not looking to be ‘managers’. They are looking to grow an idea, to bring a vision to life, to get a product out into the marketplace.
In most cases, they need people, employees, to help them do that. But time and time again, we see CEOs struggle with the ‘people side’ of their business and rightly so. It is hard work managing people. Nonetheless, effectively managing people is crucial to the success of the business. Here are three tips on how to follow rule number 5 of Stage 1 companies: Establishing a company-wide performance mindset, feedback loop and employee development through regular one-on-one meetings.
1. Recognize that people are an asset from the get go. If you don’t like the thought of having employees, go work for someone or design a business that you can run yourself. If you go into business with an attitude that managing people is difficult, you will fulfill that prophecy. If you are unsure what to do with employees, hire someone to help you figure it out. Don’t hire employees and expect them to ‘get it’ or ‘handle things like you would’. It’s not fair to them, and it will make your life miserable.
2. Set clear expectations. Make sure you have set and agreed upon clear performance expectations with every employee and have created a template for employee skill development.
3. Communicate clearly and regularly. From the beginning, from the first day you hire them, talk to them. Directly. Find time every week to go over what they are doing. Where they need help or clarification. Ask them what else you can do to make their job easier. What gets people in trouble is NOT talking.
This article, derived from content created by FlashPoint!, is based on the 7 Stages of Growth concepts developed by the Origin Institute and James Fischer. It was contributed by Jacqueline Sousa, a certified Growth Curve Specialist and regional director of the Florida SBDC at FIU.