Management is the coordination of activities to achieve a goal. It can include the synchronization, blending together, integration or organization of resources. It is incumbent upon the manager to provide direction, control processes and feedback to the various constituencies that make up the resources of the company. Management differs from leadership in that management is mostly concerned with execution of strategies and tasks and their overall effectiveness, versus leadership’s orientation of vision and inspiration. Effective management processes help convert ideas into companies. As you think about your company, you should consider:
- Do you have clear milestones to measure your progress against? Know what success looks like, and at what intervals, before you get started. It doesn’t need to be overly formal or detailed. but you should be able to lay out a simple roadmap that gives you and everyone else a map to follow to find the treasure. Know where you are going and adjust your course as you need to. That’s learning. But have a point of view.
- Have you organized and prioritized your tasks into a formal plan? Don’t bet your success on a series of lucky coincidences. Have a plan. Lay out the framework of events and timing and persons responsible so that you can steer your ship and manage your crew. Take a moderate position on the level of formality and don’t make it overly detailed or on the other hand, don’t ignore it. Think of a simple progress report that can keep you and others organized and moving ahead.
- Are you leveraging all of the resources available to you or doing everything yourself? Delegating duties is incredibly hard for startup entrepreneurs because no one likes the feeling of losing control. On the other hand, don’t limit the IQ points of your company to simply yours. Look for low priority work to pass off as much as possible so that you can keep focused on the handful of critical items that will make or break your success.
Effective management is a critical and fundamental part of building a successful start-up.