What Business Owners & Managers Don’t Know

It’s amazing how many small business owners don’t know how to develop a budget, and manage to a budget. Amazing how many don’t know how to manage people. Amazing how many are still in business!

But maybe it’s not so amazing. It’s not surprising at all. But it is scary. That’s what I’m told by many coaching and consulting clients.

So many people get into business or a management position accidentally. In other words, they didn’t plan on being where they are today, and now they have to make the best of it.

Have you ever found yourself in that position?

I’m not talking about being completely out of your depths, but rather, just being a little uncomfortable. Being just a little out of your comfort zone.

Often, people find themselves in this position because of excellent performance: they’ve done so well in previous jobs, they find themselves promoted into a position they really aren’t fully ready for.

That’s what happened to me. I was doing a good job, so I got promoted. Now I was a manager. I had to manage people. I was 21 years old, and didn’t even know how to spell management! Over the course of a year or so I learned a lot. Some of what I learned was what to do; a lot of what I learned was what not to do. I learned a lot of what I know today from that experience.

Other people take over family businesses, or have a mentor who owns a business hand over the keys to the store – literally.

Of course, some people have the vision of owning their own business and go for it, only to learn just how hard it is to be an owner. Many start off knowing how to make better widgets, but don’t have a clue about budgets, P&L, HR, managing people, marketing, sales, communicating… Or all the other things that go along with owning and running a successful business.

Funny how companies don’t seem to have much problem providing training to employees for technical skills, but not in people management skills. Funny how business owners are willing to jump in and invest everything they have without having the training or support that would make the difference between being successful and not making it.

Does that make sense to you?

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