Master management or watch your business struggle

In my experience, the mentoring of entrepreneurs and building Coworking SmartI noticed something coherent: many founders love to start out things, but very few wish to deal with them. It is easy to get excited by launching a company. It is harder to get up every day and deal with it.

Management does not sound sexy. He doesn’t prefer it on social media. But how do I share in my book Entrepreneur SmartIf you do not master management, you will at all times get stuck by reacting as an alternative of leading.

What does management really mean

Management is not bureaucracy. These are not only systems, meetings and spreadsheets. Management is making decisions. It is knowledge what is vital, who is responsible and tips on how to track progress.

Peter Drucker simply defined this: “Management does well; leadership does the right things.” IN Necessary DruckerIt also reminds us that the task of management is to enable abnormal people to do unusual things, as emphasized in this Harvard Business Review article.

To do this, you wish clear priorities, numbers you trust and rituals that maintain performance.

Effective management formula

Entrepreneurs must simplify how they manage. You don’t need an MBA. You need a rhythm. Here is the three -part formula that I take advantage of:

1. Numbers are telling the truth

If you do not look at the right numbers every week, you guess.

I at all times ask:

• What are your three most vital indicators?

• Are they visible to the team?

• Do you check them every week?

For us in coworking smart, these numbers were:

The numbers create a leveling. They finish reviews. They allow faster, smarter decisions.

AND McKinsey report It shows that teams with efficiency indicators are 3.5 times more likely that they exceed their peers. Similarly, Gartner’s study emphasizes that corporations that adapt the team’s indicators to strategic purposes relate a significant increase in employees’ involvement and general results.

2. People drive numbers

Second rule: records are a result. People are a contribution.

You cannot separate culture from the results. If your team does not feel secure, focused and equipped – they do not deliver.

That is why we implemented every week 1: 1, regular feedback loops and team desktops that show progress visually. These practices create property.

As Simon Sinek explains in his book Leaders eat the lastPeople don’t work hard because you pay them. They work hard because they feel seen and supported.

Culture is a hidden performance engine. And management is a option to build this engine.

IN To leadDaniel Pink explains that motivation comes from autonomy, championship and purpose – and his role of management is cultivating these elements (source).

3. Rhythm beats speed

The speed itself does not scale. The rhythm does.

That is why management needs a term. In Coworking Smart, we follow the basic weekly cycle:

• Monday: synchronizing the team from KPiS

• Wednesday: deep work/no meeting day

• Friday: A brief flashback about what has worked and what was not

This rhythm helps us avoid fire fighting and focusing on what is vital.

You don’t need complex tools. You need consistency. As James Clear wrote Atomic habits“You will not reach the level of your goals. You fell to the level of your systems.”

Tools to start out without spending more

One of the biggest myths in entrepreneurship is: “I will focus on management when I develop.”

NO. You grow because you manage. You scale what is organized. You repeat what is documented.

You can start with:

• The shared board of KPIs with the help of Trello sheets, concepts or Google

• Weekly check -in with your team

• Monthly reviews of your foremost business levers

You may even use slack channels for automatic each day updates. What counts not by a tool, but the discipline behind it.

According to a study conducted by Project Management InstituteCompanies with mature design and managing practices waste 28 times less money than those with bad practices.

From chaos to manage: our experience

At the starting we conducted coworking smart with Hustle and instinct. It worked – until. After opening many units, chaos appeared.

Then we went to this simplified management system. The results were immediate:

• Productivity by 35%

• Team turnover reduced in half

• Faster, more certain decision making

Today we run eight units in Brazil, in cities reminiscent of Brasília, São Paulo, Belo Horizonte and Rio de Janeiro. We serve hundreds of entrepreneurs through a low-cost, highly automated model that will not be possible without operational discipline.

And it is not just a scale. It’s about sustainable development. When you are doing well, you do not burn out. You are building.

Manage your intention, not only a response

Entrepreneurship will at all times have uncertainty. It’s a part of the game. But management is the way you create stability in this uncertainty.

Peter Drucker said: “Plans are just good intentions, unless they immediately degenerate in hard work.” This is management: exertions involving the transformation of intentions into a structure.

This is not effective. This is not exciting. But this is the reason why intelligent corporations survive and develop.

As a professor Harvard Business School Robert Simons wrote Seven strategic questionsGreat managers not only perform – they query the assumptions, explain priorities and create responsibility.

So if you are overwhelmed, unclear or stuck – this is probably not your idea. It’s your management. Repair it, and the whole lot else becomes easier.