You might be the best solicitor, architect, accountant, project manager or civil engineer in your industry, but that doesn’t necessarily mean you have the right skill set to build a thriving business. Management is a whole new kettle of fish, and calling in a quality management consultant can really take your business to the next level.
Here are four ways an expert management consultant can put the management structures in place that will serve as a blueprint for your long-term success…
1. A unified business strategy
It’s easy for small business owners to get so swept up in the day-to-day operations of their business that they lose sight of their big-picture strategy. Quality management is about looking at the long term goals of your business and setting specific, measurable actions to help achieve them.
Then, with your goals in place, an experienced management consultant will implement an organisation-wide strategy that will act as a roadmap for exactly how each goal will be achieved.
This will help everyone on your team understand exactly what you’re trying to achieve and what each individual and/or business unit must do to contribute to achieving the overall business goals.
Putting a unified business strategy in place tends to improve employee engagement because everyone knows what’s expected of them and understands the value of their individual contribution to the success of the business.
2. More effective performance management
A clear business strategy also makes it much easier for a manager to track, measure and improve employee performance. With each employee role tightly defined as part of your overall strategy, a management consultant can set a range of key performance indicators (KPIs) for each employee to ensure they are satisfactorily completing the tasks required to achieve your business goals.
These KPIs should all be measurable so the manager can regularly check how each employee is performing. This can be in the form of annual performance reviews, and more regular monthly or quarterly check-ins with your team.
Staff who are achieving their KPIs can be rewarded, recognised and potentially earmarked for promotion as part of your employee retention plan. Employees who are underperforming can be offered additional training and support, or transitioned out of your business.
3. Better cost management
Budget-setting is a critical management skill, but having a dedicated manager who can constantly track how your actual expenditure is stacking up against your budgets is vital.
You don’t want to wait until the end of the financial year to discover a budget blowout that could have a significant impact on the profitability of your business.
A management consultant can help you to closely monitor costs and identify any areas where your business is overspending. This will allow you to take fast action to right the ship before any real damage is done. A dedicated manager will also be able to identify potential cost savings, such as negotiating better deals with your suppliers or restructuring your team.
4. Dedicated business development
Quality management is not just about today, it’s also about looking ahead to tomorrow. A good manager will dedicate time to identifying potential business threats that may be on the horizon — such as a tightening economy, new competitors entering the market or changing regulations that may impact your operations — and put a plan in place to overcome them.
But it’s not all doom and gloom. An expert manager will also be on a constant lookout for business opportunities. Whether that involves expanding into new markets or creating partnerships with complementary businesses, they won’t leave the growth of your business up to blind luck.
Need some help with quality management in your business? Call in our expert management consultants in Sydney, Melbourne and Brisbane to experience the benefits of quality management. Get in touch now.
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