Basic Management Skills - What Makes a Good Manager?

Basic management skills are necessary to run a small business. Some business owners believe that leading vs managing is most important. In reality, you need to be able to both lead and manage.

What makes a good manager? There are definite business management styles and skills to focus on; specifically for small business owners. If you're the owner or manager of a small business, it's important to understand what those basic management skills are and to try to incorporate them into your own behaviors. Why? Because some skills are more successful than others and because some styles will engage your employees, while others will dis-engage them.

Business management skills such as planning, decision making, problem solving, controlling and directing, and measuring and reporting are needed for the daily operation.

Basic Management Skills - What Makes a Good Manager?

Using their small business plan, effective managers direct the business operation. Communications, benchmarking, tracking and measuring are tactics and strategies that they use to check their direction, to adjust the plan (if necessary), and to move the business forward. Good managers act to achieve the desired results; and they manage people and resources to get where they want to go.

Understanding what makes a good manager, means understanding what motivates employees.  How do you build an environment and culture that encourages employees to participate? How do you increase employee productivity and employee satisfaction; simultaneously? How do you recruit the best talent, and then keep them? How do you train your staff to solve problems, make decisions, and involve others in the process? These are just some of the challenges, and responsibilities, of managing.

As a manager, you need to understand what the common business management styles are (autocratic, paternalistic, democratic, and passive are the most common styles). And you need to understand what your style is, and how that style affects business results.

Four Business Management Styles:

Autocratic: The manager makes all the decisions; a "command and control" (militaristic) management style. Focus is on business; doesn't want any personal 'stuff' to get in the way. The benefit is that decisions are made quickly. The cost is in high employee turn-over as employees find this style difficult, and stressful. Paternalistic: The manager makes all decisions (or most of them) but focuses on what's best for employees. The benefit is that employees feel the business is taking care of them. The cost is that employees don't take care of business - they are uninvolved and have little at risk. Democratic: The manager wants input from the whole 'team' and majority rules. Often good decisions are made and employees feel involved in the business (the benefit to this style) but the process is very slow and you can't always make everyone happy. Passive: The manager abdicates responsibility to the employees; and calls it delegation. The benefit is that employees often step forward and learn in this environment. The cost is that the direction is scattered and there can be numerous false starts because there is no real manager.

Managers typically use more than one style, depending on the situation. If brainstorming creative new product ideas is today's focus, then the manager may want to use a democratic or passive style. If a decision about keeping or firing an under-performing employee must be made, the manager may need to use an autocratic or paternalistic style (hopefully not a democratic or passive style).

In most small businesses, the business owner is also the manager and the leader. In your business, make sure that you have a good understanding of your own business management styles, skills and qualities and learn how to control them and use them as necessary.

Basic Management Skills - What Makes a Good Manager?
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To understand more about what makes a good manager, or the difference between leading vs managing, it is good to focus on the qualities of an effective manager as compared to the qualities of an effective leader.
Kris Bovay is the owner of Voice Marketing Inc, a business and marketing services company. Kris has 25 years of experience in leading large, medium and small businesses. For more pricing strategies and other small business resources and services go to the more-for-small-business website.
Copyright 2008 - 2009 Voice Marketing Inc.

More Best Answers For Retail Management Interview Questions

If you are interviewing for a retail management position, you might be curious about some of the job interview questions. Moreover, you might be curious as to what the best answers for those retail management questions are. Keep reading on to get some helpful tips and answers.

Question: How would you handle a problem employee, such as someone who consistently arrives late to work?

The answer to this question might seem a little bit tricky. After all, a good company does not want an employee who wastes company time and money on their payroll. However, an answer such as "terminate them immediately" might be jumping the gun too fast. One of the best answers for retail management interview questions along this line is an answer that involves checking their work history, providing a clear and simple reminder, and then possibly termination if an improvement was not made in a timely matter.

More Best Answers For Retail Management Interview Questions

Question: You walked through the store on the way in and have possibly shopped here before, what would you recommend doing to improve this store?

The answer to this question is another tricky one. Your first impulse is to assume "this company doesn't want to hear I think the store looks like crap." Of course, you don't want to use those exact words, but provide an honest answer. The best answers for retail management interview questions are honest ones. Ideal suggestions include have an employee greet me when I walk through the door, remove bulky displays in the aisles that hinder cart movement, and so forth.

Question: Have you personally shopped here before? Why or why not?

You might think it is best to answer this interview question with a "yes." After all, the best types of retail store employees are those who take pride in their company and actual shop with them. However, don't outright lie to suck up. Once again, this is your chance to shine. Provide honest feedback if you don't shop there (why not and what would change your shopping habits). If you are an avid shopper, state why (whether it be the friendly staff, the quality products, or the good prices).

Question: As a new store manager, how would you delegate tasks to your coworkers?

This type of interview question for a retail management position is designed to get an idea of your method of management. Are you a manager who just goes with the flow? By the way, these aren't the type of store managers that most retailers look for. If you were, your response would include letting each employee perform the tasks they normally do. If you were a take-charge kind of manager who is interested in producing the best results, your answer would involve assessing and communicating with each coworker first. The goal is to determine who is the most productive at what and go from there.

Question: While you are applying for a store management position, can you still work as part of a successful team?

One of the best answers for retail management interview questions like this one is yes! As a store manager, it is your responsibility to manage the entire store, as well as each employee. On that same note, store managers often help with everyday tasks. This is particularly common in small stores with limited payroll hours. Job interviewers want to know that you can not only handle the management aspects, but the team aspects as well, such as helping your stockers unload a warehouse truck.

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Why Inventory Management is So Important

There are many different reasons why inventory management is so important in today's world. One of them is being able to know exactly how many of each product you have in stock, so you know exactly how much needs to be ordered. Without proper inventory management, you may order too many of one thing, and not enough of something else. What does this translate too? Running out and having to order more, and having an over stock of other products, costing you not only money, but available storage space.

Proper inventory management also allows you to track the products you sell. You can see at a glance what items sell the most, what time of the year that more are sold, and have a chance to see what patterns develop so you can plan your buying accordingly. For an example, if you are a clothing merchandise store, and you find that you sell more coats and hats during the fall, just before Winter, or during the Spring, then you can order more of these items before then, so there is enough merchandise before hand. It also helps you track products that don't sell as often, or at all, so you can either not order as much as your would routinely do, or maybe even decide to discontinue this product line altogether.

Having the right inventory management software is just as important. Today, inventory has become streamlined, with bar codes, scanning devices, and computers, so you need software that keeps up with the latest technology. You need to be able to find out at a glance if you are running out of something, rather than going in the back or having to call the warehouse to find out. Your inventory managers need to be able to quickly and easily count how many items there are, and be able to scan the bar code and have it downloaded into the computer automatically, without having to physically write down the information and then input it into their inventory computer.

Why Inventory Management is So Important

Inventory management is vital to today's businesses, especially in the retail market. In order to keep up with sales, trends, and popularity of a certain product, or line of products, the only way to do this is if you can track what sells, how much does at certain times of the year, and what products are losing ground. This really is the only way to keep up with your competition, order the right amount at the right time, and know whether to eliminate products that just aren't selling, saving you space, time, and money.

There are an abundance of different kinds of inventory management software available on the market. These are compatible with just about any type of computer operating system you have. Not all software is the same, so you really have to take the time and make sure that it is right for your needs, and for those people who are starting off small, will be able to expand and grow as you do, without having to buy new software all the time.

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Property Management Fees Explained

When you hire a property management company to serve as the liaison between yourself and your tenants, you want to be sure you're getting the best possible property management services for the money. The services a property management company provides can range from ala carte to an all-in-one inclusive package. Along with that comes an array of fees for each. There is no set in stone fee structure we can provide you. But we can educate you on what common fees to expect and what each is commonly for. In the end it will be up to you to compare company fee structures and choose the best one that fits within your budget. Below are some of the most common fees and what service they provide.

Commission

This is an ongoing monthly fee charged to the owner to compensate the property manager for the responsibilities of overseeing the management of their property. This fee can vary from as little as 3% to over 15% of the monthly gross rent. In place of a percentage some managers may charge a flat monthly amount which again can vary from to over 0 per month. All property management companies generally charge this fee.

Property Management Fees Explained

Lease-Up or Setup Fee

This fee is charged to the owner to compensate the property manager for their initial time invested and resources used in setting up an owners account; showing property and/or other activities resulting in tenant placement. I guess you could look at it as a "finders fee" for placing a tenant in your property. Once a tenant has been placed and first rent income comes in, the property manager will deduct this fee from the rent proceeds. Some property managers have been known to require this fee upfront prior to tenant procurement. Usually this fee is non-refundable once the property manager has started the process of tenant procurement or any legwork has been initiated with the property. This fee can vary from none to as much as the first months rent, and usually is a one-time fee per tenant.

Lease Renewal Fee

This fee is charged to the owner when a property manager renews a current tenants lease and covers the costs of initiating paperwork or communication involved in implementing the new lease document. A property manager may also justify this fee if they perform a year end inspection of property. This fee can vary from none to 0 or higher, and may be charged every time a lease renewal is implemented.

Advertising Costs

Depending upon the property management company's contract, either they will pay the advertising costs or the owner or they could split the costs. If the manager is willing to cover this cost, most likely they will charge the lease-up or setup fee as outline above. If the management company covers this cost make sure to find out what type advertising or marketing of your property is included. If it's placing your listing on their own web site and other free online classified sites you may not be getting your monies worth. They are many good rental or tenant resource online web sites that bring in qualified tenants for a reasonable fee and you will want to consider these. And don't forget about print media, yard signs, listing on the MLS or even an open house. Nothing is worst than having your property vacant, bringing in no money only because you or your property manager skimped on advertising.

Maintenance Mark-up Charges

This is one of those costs you may never really of known about or had it disclosed to you. A "Mark-up" is a charge over and beyond the final bill on maintenance and/or repair work done to your property initiated by your property management company when using their vendors or in-house maintenance staff. This should be disclosed in your Manager/Owner contract which usually will state the markup as a percentage above the final invoice from vendor. For example, your manager had to call a plumber to replace the dishwasher in your rental property. Total charges for completing the job: 0. If your property manager contract states you will incur a 10% markup on all maintenance work the actual cost to you will be 0. Just one of those things to be aware of as these all eat into your profits.

Early Cancellation Fee

The dreaded "3 months and no tenant". Your property manager insist he or she's doing everything they can to find you a tenant. But here it is 3 months and still no tenant; what do you do. Well, look at your Manager/Owner contract and that might be your deciding factor. I am not a fan of this fee, and believe it to be an unnecessary fee and for you manager out there this could be the deal breaker. I'll tell you why; if a property manager is doing their due diligence and keeping the owners in the loop as far as decision making, market conditions and communication lines open an owner will not be second guessing his property managers abilities. The odds of this scenario happening is unlikely but you must be prepared for it. A cancellation fee can range from none to over 0. To be fair, some managers legitimately deserve this fee especially if they have pocketed advertising costs, incurred lots of legwork and time invested in your property.

"You've Got To Be Kidding Me" Fees - These are ones I have personally had the pleasure of running into.
Your property is vacant, but we still will charge our monthly commission or a small flat fee. "A For-Rent Yard Sign Fee". I believe this was /mo. "Preventive Maintenance Fee". This was to cover the "just in case" and changing out A/C filters. If "just in case" never happens they still pocket the money. I believe this was /mo and I still was charged for filters.

In Summary

Read your Manager/Owner contract, understand what you are signing, ask lots of questions and know what the fees will buy you in services. A good real estate lawyer can help in negotiating the terms in a contract that suit both parties. These contracts are not set in stone. If your property manager will not negotiate, there are other property management companies that are eager to earn your business.

Property Management Fees Explained
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Karen McDaniel
Principal
Property Management Profile LLC dba pmvnetwork.com

PMVnetwork offers the most up-to-date listing of full-service property management companies and property service pros nationwide. We have become a wealth of information and resource for the first-time landlord as well as the seasoned investors.
For any property management company or home repair professionals that is looking to gain national exposure by capturing the attention of out-of-state investors or be found by local clientele, http://www.PMVnetwork.com/property-management-leads is the place to showcase their business model and expertise to these prospective clients. We offer an opportunity for all property management companies and home repair service professionals to list their company on our website, whether you specialize in residential, commercial, vacation or community association management. We accept small to corporate size management companies. We are the most affordable lead generation service out there today.

Visit us today at http://www.pmvnetwork.com

Effective Management: Keys to Being a Successful Leader

The ability to bring people together to accomplish a task is a difficult talent to master. It takes a combination of acquired skills and experience to guarantee the success of anyone in a leadership role. An incompetent manager can have a devastating impact on an organization. A leader with the knowledge, experience and insight necessary to ensure a high performing and profitable organization is hard to come by. In a recent Gallup survey, it was found that 25% of U.S. employees would fire their boss if they could. With one out of four managers failing, it is easy to see how ineffective management decreases employee performance and increases customer dissatisfaction resulting in a negative affect on the organization's bottom-line.

The art of effective management rarely presents as an inbred gift. An effective manager must be an innovative leader who exhibits creativity, enthusiasm, confidence and an innate respect and good will toward every individual within the organization. The manager has to be willing to embrace new concepts and reconsider old practices in order to unleash the potential of the team. To be an effective manager, one is required to learn and utilize four basic management tools: coaching, feedback, counseling and discipline.

Coaching is the ongoing, informal training that confirms when an employee is doing well and identifies potential areas of opportunity. There are five essential keys to the coaching process.

Effective Management: Keys to Being a Successful Leader

o Listening with sensitivity and consideration to hear what is really happening should be your primary objective. In the coaching function, learn to use the power of silence. An effective manager seeks first to understand, then to be understood. This allows employees to know that you value their opinions and keep their interests, priorities and goals in mind. Actively listening to your employees builds trust and lets them know that you respect them as a "whole" person. Employees will be more open and will more readily clue you in to valuable information you may not otherwise be privy to.

o Language that demonstrates the ability to create new realities with precise types of speech is necessary to clearly disseminate your message with the highest likelihood of retention. Communicating effectively with appropriate language, pitch, tone and volume is the best way to articulate company goals and objectives.

o Attitude greatly impacts your ability to produce results. Approaching employees with a caring attitude aids in the employees being receptive and open to communication. An abusive, hostile or even disinterested attitude directly impacts the emotional health and productivity of employees. A manager who displays a positive attitude in every message reinforces the employee's belief in their own value to the organization.

o Self-Development is the process by which managers continue to strengthen their own skill set through continued training and value-added experiences. By being a model of excellence, productivity and fulfillment, an effective manager demonstrates the acceptable behaviors that set the tone for a climate of responsibility.

o Leadership involves developing a clear vision and strong message which must then be successfully communicated to the team. Your expectation of employees and their expectations of themselves are the primary factors in how well employees perform in the workplace. Set achievable goals and share them with your employees so that they know what is expected of them. Delegate the workload and set realistic deadlines. This will provide invaluable training to employees and save on hours of unnecessary work. Utilize a time management system that is simple, organized and efficient to track completion of tasks. Being able to hold employees accountable is a vital function of the coaching role.

Feedback provides specific information that lets employees know how well they are performing. Feedback can be positive or corrective. It builds employee beliefs in their capabilities and provides them with insight into how they can improve their production. Corrective feedback should only be given in private. Feedback should always start positive and end positive. Never solely identify what the employee is not doing or is doing wrong. Employees need to have their confidence reinforced through praise and appreciation. Feedback is a two-way communication device. Allow employees to respond to your message so they know that they are included in their own development. One of the top complaints employers receive in regards to employee dissatisfaction is poor to non-existent feedback and recognition. Opening the lines of communication allows you to stay tuned in to your employees so you can be proactive in resolving situations before they escalate. Ask SMART questions (Specific, Measurable, Attainable, Realistic and Time-based) to identify fears, problem areas or opportunities.

Counseling is a tool that shows employees what they need to improve their performance. Point out issues in the employee's work in a calm, non-accusatory manner. Ask them what you can do to help. Work with the employee to develop concrete goals and a timeline for resolving the matter. If the problem is personal versus job-related, be empathetic and offer a flexible solution to help create a synergized work/life balance. Remember, you are not a therapist. Refer employees to the proper support groups if necessary. Counseling measures help to reduce turnover, prevent disciplinary action and shows that you are committed to your employee's success.

Discipline is a necessary evil to help employees follow company rules. Disciplinary action should be taken as a last-resort effort when previous coaching, feedback and counseling attempts have failed. The primary goal of discipline is not to punish your employees but rather to help guide them back to satisfactory job performance. Focus solely on performance, remain fair and impartial. Although it is recommended to dole out discipline as soon after the misbehavior as possible, it is equally important to make sure that you have all the facts before you act. Improperly or unfairly holding an employee accountable for an action without adequate investigation can lead to lowered employee morale, loss of respect and possible lawsuits.

Effective management is more than just implementing policies and procedures. It means getting the most out of all of your employees, helping them to perform at their best individually, cooperatively and in groups. Managing your team effectively and efficiently requires the willingness to learn a variety of leadership skills. An effective manager must be able to coach, provide feedback, counsel and be comfortable in disciplining team members. By developing your management skills you will appreciate colossal benefits in increased productivity, decreased stress and increased confidence in both yourself as an effective leader, as well as in the employees on your team.

Effective Management: Keys to Being a Successful Leader
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© 2006 by Niquenya D. Fulbright, Professional Life Coach All Rights Reserved. You have permission to publish this article electronically or in print, free of charge, as long as the bylines are included. This article may not be used on illegal websites or websites that promote illegal activity of any kind. A courtesy copy of your publication would be appreciated.

About the Author: Niquenya Fulbright is a professional life coach with over 10 years experience specializing in career, sex, love and relationship coaching. As founder of [http://www.chicagoloveconnection.com], Niquenya helps her clients to improve the quality of their personal relationships and sex lives through positive goal-setting, self-assessment, time management skills building, image consulting and exciting singles events. For more information or to schedule a complimentary 30-minute coaching session, visit http://www.niquenyafulbright.com or send inquiry to contactme@niquenyafulbright.com.