🔥 How can a startup grow into a big business?

Hello Comrades!

As the business expands, the team management processes also change. Today I’ll tell you how to delegate tasks, plan the workflow without losing efficiency.

Implement macromanagement 

It's time to abandon micromanagement, which hinders development and progress. Use new solutions if you want to achieve creativity and independence of the team. Do you know what might interfere with your plans? Self-doubt, inability to delegate and desire to control every step of your colleagues. 

Train employees and encourage their ideas and initiatives. 

Delegate tasks 

Many bosses monitor their subordinates because they don’t know how to delegate and establish responsibility competently. Moreover, they often don’t indicate the scope of obligations directly, but through colleagues. This practice doesn’t work, because a person may simply not understand you and the task will have to be redone. 

I recommend doing the following: 

• select the tasks to be transferred; 

• find an available employee who can handle the job;

• explain the essence of the task, set a deadline and answer questions; 

• ask questions and make sure you understand each other.;

• control the process, but don’t limit the team member. 

Hire qualified team leaders 

Usually, teams are managed by those who have been working in a startup the longest. However, when the business expands, you may need fresh executives from another field. Finding such an employee takes a lot of time. When working, he must:

• guide and support the team; 

• to deal with the allocation of resources;

• plan the current and future workflow; 

• resolve conflicts and build interaction within the team;

• encourage progress and achievements. 

Your team leaders should share the values of the project. Make sure that you hire someone with similar priorities.

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Use a risk management and control system 

Great responsibility and unexpected circumstances come with big business. Risk control and management systems will help you to get through difficulties.

There are 6 risk groups: 

Strategic risks

For example, you need to change your business plan or previous strategy due to the emergence of new technologies, changes in supply and demand, etc. 

Operational risks

These problems arise within the company and disrupt the usual course of things. Let's say your internet is turned off and you can't contact customers. 

Personnel risks

In this case, the risks are related to the staff. You’ll have to fire and hire employees, address issues of efficiency and lack of qualifications. 

Financial risks

Here we are taking into account everything related to money. Don’t forget about the exchange rate, interest, interest and potential debts. 

Reputational risks

The image of your business in the media space affects the overall success. Follow the reviews, news and updates to avoid difficulties with partners. 

Political risks

Politics quite often interferes with business activities. For example, due to the sanctions, prices and transportation of goods have to be reviewed. 

Despite the negative effect, risks can also have advantages. I advise you to make a list of potential risks and decisions that will be needed to solve them in the future. 

Agree on the reporting procedure

If you have learned how to set tasks correctly, then it's time to learn how to control their implementation. Make up an algorithm for this procedure in advance. To get started, schedule general meetings, weekly meetups, and 1-1. Then tell the team the time and format of the meeting, as well as the topic. Suggest discussing a new idea, strategy, or business plan. 

Set goals and motivate to achieve them 

Are you familiar with the OKR (Objectives and Key Results) methodology? Due to it, managers shift business goals to individual employees. It's okay if you can't complete the goal 100%. At the same time, the indicator of 60-80% is considered optimal. 

Set goals from the bottom up and your employees will feel personally responsible. They’ll understand that they are invested in the overall goals and priorities of the project. After that, approve the criteria by which you will evaluate the final results. 

Try to use this technique and track the effectiveness of collaboration.