Who’s minding the store?

Successful business owners are a special breed of people. They are usually visionary leaders who are decisive, with ability to multi-task and think on their feet. However, as gifted as they are in leadership, they are often just as challenged in other areas of business, such as building organizational structure and establishing accountability measures.

Organizational structure is the internal foundation of the business. It provides a standard for everything from job performance to daily operating procedures. Accountability measures are internal controls used to monitor efficiency and minimize risk.  When used effectively, these systems can provide the management tools necessary to grow a business beyond the capacity of the owners or directors.

Building organizational structure and accountability measures can be time consuming and intimidating. Yet the time, effort and money lost due to a blurred mission, employee turnover, waste, nonproductive workers, or a lack of clear direction, can be crippling to a growing business. Therefore, here are some things business leaders can do to bring structure and accountability into their organization.

-          Create a short, targeted mission statement that articulates why the business exists.

-          Develop a list of core values that express the ethical standards to which each employee is expected to adhere.

-          Distribute written job descriptions to each employee or contractor detailing what is required and expected as part of their job.

-          Establish a process and procedure manual for employees to use for training or as a reference.

-          Conduct routine audits to ensure employees are following procedures and maintaining operational standards.

When management tools such as these are adopted, business leaders don’t have to fret about, who’s minding the store, because whoever it is, has the means to do the job well.

 

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