Business Strategies

Management  strategies  

The Covid19 pandemic has given business owners the opportunity to take a step back from their business and consider how it is really working for them. 

In many startup businesses the business owner(s) work all sorts of hours in order to get the business up and running. 

This is unsustainable over time and can lead to stress in all aspects of life and eventually burn out if they don’t take action to change the way the business operates.

One tip I learnt early on was to develop an organisation chart that included all the jobs that needed to be done. 

I gave them job titles, eg HR Manager, Finance Manager, Marketing Manager etc.  Then I put my name beside them all. 

The idea was that over time I would employ or contract someone into each role and remove my name.  This helped me make some important decisions so that the business was sustainable.

Another  useful tool was to identify all the tasks that were needed on a day-to-day basis. Then my team worked out who was the best person to do each task (and why).  From there we reorganised the team and responsibilities and documented the processes needed for each task so that if someone was away sick or on leave, someone else could pick up the work quickly and easily.

These two ideas are among many that you can use to improve your business profitability and make your life easier.

Change management

Change management is an approach to enable you to change the way your business works;  where you apply a set of tools, skills and principles to the process to improve your business processes

It is critical to have a vision for the end result, a vison that you can communicate to your team (even if you have a team of 2-3). this is because people resist change of any sort for whatever reason.  So be prepared for resistance. 

Know what you want to achieve so you can set the direction and make informed decisions about  the changes you want to promote.

Information  strategies

Organisations overflow with information and systems to try to access it all. Information overload is a common catch cry of people swimming in a sea of information with no clear way through it all.

This is not a sustainable way of working. Stress levels increase, decision-making is based on poor analysis of information because there is simply too much to process.

Information is a strategic asset that deserves to be managed well. It is informed by the business strategy and other key business documents to map a planned and practical way to enable people to access the right information at the right time to meet the business goals.

A good information management strategy will lead you to:

  • Understanding what knowledge and information is available to your organisation, where that knowledge is located and how it can be accessed.
  • New ideas, outside the existing structure and services and encourage “outside-the-box” thinking
  • New ways to find the information you need
  • Benchmarking your organisation against the market
  • Information services that match your changing business needs.

Information management strategy development is our specialty. Our proven methodology is robust and flexible.

Terrace Consulting began life as an information strategy consultancy. We have a wealth of experience that you can use to your advantage.

When you are considering a business or information strategy, call Terrace Consulting first.

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Management strategies