These traits help manager succeed

Which traits do a manager need to succeed in today’s business environment? Like many questions, the answer is “It depends.” Are we talking about an executive at a Fortune 500 company or someone who is starting their own small business? Is the business in growth mode or is it in distress and in need of restructuring? Different situations call for different skills sets.

I’ve been thinking about this question since reading an article in Fortune Magazine which outlined what Fortune believes to be key characteristics for today’s successful CEO. These characteristics include a comprehensive understanding of global business; the ability to execute changes in strategy and business models; the ability to manage relationships with governments; and the ability to identify and manage risks before they become disasters. Fortune is working to identify an Executive Dream Team — the men and women in today’s business world who would best fill the executive suite and face the challenges of a changing, global business environment. Their selections will be announced in the magazine’s Sept. 5 edition.

While these characteristics may be appropriate needed to guide multi-national Fortune 500 companies, are they the most important traits for managers of start-ups and small businesses? Most start-ups do not begin with worrying about global competition or the need to manage government relationships. What traits do small business managers need if they are to be successful?

Self-motivation. If you own a small business, things begin and end with you. That may mean opening up in the morning and closing at night, working six — or seven — days a week, and being available 24 hours a day. Only the self-motivated and dedicated need apply.

Multi-tasker. Small businesses are usually lean organizations by necessity, so the successful manager must be a multi-tasker who can fill the different roles of finance, marketing, purchasing, human resources, and other functional areas as needed. As you can imagine, being good at time management is also helpful. Note, being a good multi-tasker still does not give you the green light to text while driving. Keep your eyes on the road, please.

Integrity and trustworthiness. You can’t control everything in your business, but you must protect your reputation. A big part of your job is building relationships with customers, suppliers, bankers and other business professionals. If you intend to have more than one interaction with any of these groups, conduct your business with integrity to build long-lasting business relationships.

Self-awareness. Understand where you and your company fit in the big picture. Are you a small supplier that must go beyond the call of duty to become a more significant player? Has your business grown to a point where you need to add expertise to help get the job done? You must be able to take a step back and figure out which adjustments you need to make to keep the business moving forward.

Vision. You must know where you want your business to go and have the ability to communicate it to your employees, suppliers and partners. People want to feel like they work for someone who has a plan, so it’s your vision that sets the tone.

This is not an all-encompassing list. Business owners wear many hats, but these traits provide a strong foundation for business success.

Do you have a business question or topic that would make a good column? Send your ideas or questions to jeff.neuville@b-assistnc.com and share your business experience with others.