Is It Time To Hire a Business Manager?
Do you feel like your days are full of busy work that you don’t love? Do you have a lot of new ideas for ways to move your business ahead, but day-to-day operations slow you down? Are you running out of hours? If so, it’s probably time to hire a business manager to support your company’s success. In fact, it might be past time.
If it seems like a business manager would be a good addition to your business, book a free consultation with us to discuss the best option. Fisher Bookkeeping provides a wide range of services for startups and other small businesses. With staff in Portland, OR, Barrington, IL, and outside Lexington, KY, we help keep businesses around the country running smoothly.
What Does a Business Manager Do?
An expert business manager can bring a lot to your company. They keep the daily tasks moving along while preparing the business for growth.
A business manager’s specific jobs can vary by industry and company. However, these general duties are typical across niches:
- Hire and supervise clerical staff
- Communicate with owners and other managers
- Communicate with clients
- Set and coordinate employee schedules
- Oversee or coordinate payroll
- Maintain accurate financial records
- Work with outside vendors and contractors
- Design and implement standard operating procedures (SOPs) to build::
- Safety
- Client Satisfaction
- Efficiency
- Productivity
- Profitability
In short, a business manager’s role is to support the staff’s productivity so the company can meet its goals. They should take a leadership role, acting as a bridge between owners and employees.
You can let go of many repetitive tasks when you have a business manager in place. They will handle a lot of the routine duties for your company so that you can focus on the things you love and that will help your business thrive.
With the large-scale move toward a remote workforce, many companies now use an online business manager (OMB). This role encompasses many of the same tasks that it would in-person but may also include the following duties:
- Setting up workflow automation
- Managing online communities such as Facebook groups
How Does a Business Manager Help a Company Succeed?
Many small businesses grow quickly and organically to a point where the owners don’t realize how much they are doing for the company. They just keep piling more hats on their heads to fill all the roles.
Doing that, however, will likely lead to mistakes, missed opportunities, and burnout. Hiring a business manager can fix that.
Avoid Mistakes
One IBM report from a few years ago noted that businesses lose a whopping $3.1 trillion each year to data errors alone. No company wants to lose even a dime of profit if they can avoid it, but small businesses often have thin margins to risk. Any loss to error is significant.
A business manager can set up streamlined systems and ensure the whole team follows them to minimize mistakes. With SOPs in place and ongoing training for the staff, your company is less likely to lose money to human error.
Additionally, if your business manager’s job is to track and report your company’s financials, they will be able to watch for fraud and error there.
By handling employee hiring and training, your business manager can create a capable, confident, and loyal workforce to minimize your losses. Organized systems with consistent procedures lead to success for you and your workers.
Avoid Missed Opportunities
When you hire an experienced business manager, you set up your business to grow and thrive. By taking work off your plate, the business manager frees you to go after opportunities you would otherwise not have the time and bandwidth to pursue.
When they handle much of the day-to-day operations, you can spend your time and energy networking, meeting with investors, and building collaborative partnerships. By establishing excellent processes, they also make your company attractive to clients and investors who want to see a well-oiled machine.
Another growth opportunity can come from your existing employees. Your business manager will set up and oversee employee reviews, helping you to see which workers might be ready to move into a more significant role with the company. They can work with you to identify high-performing people who can help the business thrive.
Avoid Burnout
You cannot do everything in your business for long. Trying to fill all the roles is a perfect recipe for burnout and all of the mental and physical ills that come with it.
If that is how you feel, it’s time to hire a business manager. Ideally, you will fill this role before burnout sets in, but entrepreneurs often do it the other way around. Whenever you do it, hiring for this role will relieve a lot of stress for you as the business owner.
It’s Time To Hire a Business Manager: How Do You Choose?
Before starting the hiring process, decide if you want to fill this role with a W2 employee or an outsourced 1099 contractor. Either option is valid, so it depends on your budget and needs. If you only need a business manager for 10-15 hours per week, an outsourced person might make the most sense.
Once you make that decision, it’s time to create a list of the tasks you need the manager to do for your business. The role is likely to shift as your company grows, but this starting point will help you interview and hire.
In general, the following skills, attributes, and experience are crucial to any successful business manager:
- Highly Organized
- Detail-Oriented
- Project Management
- Leadership Training and Experience
- Excellent Written and Verbal Communication
- Team Player
- Competent in Necessary Technology
A background and credit check should be part of your hiring process for this position since they will have access to your financial information.
Outsourced Business Manager Services
If you think hiring a business manager is the best next step for your business, book your free consultation with our team today. Fisher Bookkeeping offers payroll, bookkeeping, CFO, and Profit First services in addition to our business management. Let’s connect and discuss your needs to determine the best level of support for your company.
About the Author Barb Fisher
Barb is the CEO of Fisher Bookkeeping, an outsourced bookkeeping consultancy that provides small businesses with a full-service financial department. Her favorite aspect of work is to break down the accounting to meaningful bits, so entrepreneurs can make a powerful difference in their own business. She's also a power lifter (squat: 215, DL: 270).