There are a lot of skills that business leaders look to embody on their quest to success. There are a lot of flashy ones, like charisma, leadership, vision, and drive. The ability to get up and go and have people follow you is important. But it takes more than a gust of wind to steer a ship in the right direction. Business owners must be resourceful and here we’ll take a look at why.
Find hidden talent
Perhaps the greatest asset available to a business is the people who make it up. We all want to hire the best people, of course. But sometimes the less obvious route is the way you should consider going. Don’t let your hiring process become blinded by an absolute need for experience where you could do much better with the hidden talent that has yet to be fully proven. Get them when they’re fresh and treat them well and they could become the easiest to retain and amongst the most valuable.
Keep an eye on the clock
Time management isn’t just a skill that you should ask employees to have. A business owner should always be looking at what they can effectively achieve in a set amount of time. Key performance indicators are a big part of that, but it’s not about pushing people to work harder. It’s about looking at the time wasted whether due to bad prioritisation practices or tech downtime, and finding smarter ways to work around it. That way you can help your team achieve much better results but without the headaches and stress of having to constantly be in crunch mode.
Know what you need
The needs of actual physical resources in the business are another thing you should be well aware of. Without tracking the demands of new assets, whether it’s something temporary like paper clips or something a lot more permanent like wedge jacks on a construction site, you’re not going to be able to make the most economical decisions. You’ll waste time because you ran out of resources without expecting to or you’ll continue to lease equipment when really you have enough demand for it to buy instead.
Know who can help
That decision, whether to bring something in-house or to get it from an external source, is an important one that will crop up time and time again as a business grows. Figuring out the rate of return on every investment you make is what’s going to help you make the right choice. Especially in outsourcing. It’s not the dirty word that many businesses treat it as can help you find top level talent without having to pay top level wages to keep them in the company. However, you need to consider the threshold of when it could be much easier for you to just employ someone for a job you’re freelancing.
Your time, your money, your needs, your people; you can handle them all a lot better with a bit of resourcefulness. Start thinking about how you spend what’s available to your business in the most efficient and economical ways and you’ll start seeing that success is a lot easier to attain.
