Office Management- Introduction

Every small business has a physical spot to process paperwork, whether it’s a notebook in a truck for a contractor or a large building complex with tens of employees for a multi-million dollar operation, the paperwork has to get processed somewhere. But there is more to this than the physical facility, it is more about the people and process involved that define the office.

Both the people and process determine the overall management of the business. The office conveys the image as the central point of leadership for the business and ultimately the success or failure of every small business.

As the office plays the defector leader for small business it is tasked with managing all affairs. Often one or two people are responsible for this position. In almost all cases the owners default into this role. After all, the owners have the most at risk in the success of the business. As businesses grow and prosper the owners hire staff to assist and take on higher levels of responsibilities. All of this is referred to as management.

It is the job of management to set goals for the company. To achieve these goals management has to go further and create a plan. Once the plan is developed, management must organize the business to efficiently and effectively carry out the plan. To achieve organization, management must control all the resources available both physical and financial. All of this is realizable with good leadership.

Management leads the business with achieving goals. This is accomplished by planning, organizing and controlling the business resources (physical, human and financial).

Leadership

Leadership is defined as motivating people to achieve a goal. This is accomplished with proper communication and with an enthusiastic demeanor. Employee spirit is a direct result of the cultural atmosphere at the company. Good leadership requires decision and resolute posture. Everyone in the company needs to know the goals for the day, week, month and year. Adamant reassurance from management provides the needed spirit necessary to achieve the goals.

Once the goals are set, management must plan out the course of action to achieve those goals.

Planning

Planning is a sub process of management requiring a step by step procedure to achieve the goal(s). Think of planning as similar to writing a recipe to bake a cake. You determine the ingredients (resources) needed and the respective steps in order to prepare the batter and ultimately bake the cake.

Once the plan is developed, management will need to organize the process to maximize efficiency and stay effective with the result.

Organizing

Organizing is simply the allocation of resources. This includes human resources. Often the process from planning has never been done before. Organizing includes researching the sources for the raw materials and tooling needed to achieve success. Flowcharts are used to determine which steps come first and how much raw material is needed at each stage of production.

With this knowledge tasks are assigned to the respective departments and allocation of resources are implemented. To ensure that organization is working management uses controlling techniques.

Controlling

I compare controlling to the old stereo tuners with the analog meter. As you moved the tuner dial closer to the frequency of the station, the power output meter would move towards the maximum point. Go past the frequency point and the power meter’s needle would begin to shift away from the maximum power. The tuner dial acts as the controller for maximum efficiency.

In business, controlling is the same concept as the tuner. Management creates a feedback loop of important process points to determine maximum efficiency and effectiveness. It is a tool to monitor employee performance and production. Based on the information feedback management can determine if the process is working well and if not, make appropriate adjustments.

Summary – Office Management

The office is considered the de facto center of leadership. The office is more than just a physical spot, it is the center of management. This is where all the planning, organizing and controlling is initiated. Management defines the goals of the company and with good leadership achieves those goals. The office acts as the central point of leadership in the small business environment. ACT ON KNOWLEDGE.

Value Investing

Do you want to learn how to get returns like this?

Then learn about Value Investing. Value investing in the simplest of terms means to buy low and sell high. Value investing is defined as a systematic process of buying high quality stock at an undervalued market price quantified by intrinsic value and justified via financial analysis; then selling the stock in a timely manner upon market price recovery.

There are four key principles used with value investing. Each is required. They are:

  1. Risk Reduction – Buy only high quality stocks;
  2. Intrinsic Value – The underlying assets and operations are of good quality and performance;
  3. Financial Analysis – Use core financial information, business ratios and key performance indicators to create a high level of confidence that recovery is just a matter of time;
  4. Patience – Allow time to work for the investor.

If you are interested in learning more, go to the Membership Program page under Value Investing section in the header above. 

Join the value investing club and learn about value investing and how you can easily acquire similar results with your investment fund. Upon joining, you’ll receive the book Value Investing with Business Ratios, a reference guide used with all the decision models you build. Each member goes through three distinct phases:

  1. Education – Introduction to value investing along with terminology used are explained. Key principles of value investing are covered via a series of lessons and tutorials.
  2. Development – Members are taught how pools of investments are developed by first learning about financial metrics and how to read financial statements. The member then uses existing models to grasp the core understanding of developing buy/sell triggers for high quality stocks.
  3. Sophistication – Most members reach this phase of understanding after about six months. Many members create their own pools of investments and share with others their knowledge. Members are introduced to more sophisticated types of investments and how to use them to reduce risk and improve, via leverage, overall returns for their value investment pools.

Each week, you receive an e-mail with a full update on the pools. Follow along as the Investment Fund grows. Start investing with confidence from what you learn. Create your own fund and over time, accumulate wealth. Joining entitles you to the following:

  • Lessons about value investing and the principles involved;
  • Free webinars from the author following up the lessons;
  • Charts, graphs, tutorials, templates and resources to use when you create your own pool;
  • Access to existing pools and their respective data models along with buy/sell triggers;
  • Follow along with the investment fund and its weekly updates;
  • White papers addressing financial principles and proper interpretation methods; AND
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