Benchmark Business Group

It’s not micromanagement it’s business insurance

January 21, 2020

Especially in the financial services industry, we hear many leaders express concern about micro-managing their team.

As we all know, micro-managing is not an effective management technique. It can lead to low morale and rarely gets the results that you desire. However, we often see that when a leader is too concerned with micro-managing they go too far in the direction of not managing at all.

Management is a constant balancing act. Yes, you want your employees to take ownership of their positions. You want them to handle issues and solve problems without you having to direct every moment.

At the same time, the business needs to know what is happening, how it’s happening, and ensure that it’s within the business's standards. It’s not about what you want or need as a leader. It really boils down to what your business needs to know.

When you abdicate management, your business is at risk. Think about your key employees. In this industry there is acknowledgement that everyone faces risks outside of their control every day. What would happen if your key employee couldn’t make it to work for the next week or two and you couldn’t talk to them?

  • What information do they have in their heads that no one else knows?
  • What actions have they promised to take with clients that you cannot fulfill, because your business doesn’t know about them?
  • What tasks would your business struggle to complete, because no one else does that task in the office?

This is the worst-case scenario, but daily your team represents your business. What they say. How they act. What promises they make. Any mistakes they make. It all reflects on your business.

It is vital that your business sets the right standards and puts systems in place to ensure that the standards are being met. This is the balance of management.

You don’t have to babysit. You don’t have to micromanage. But you do owe it to your business to have great systems in place to know that you are balancing management in a way that gets results and empowers your team to excel.

As a leader, you can’t do it all yourself. You must be able to build a team of professionals that you can empower to sell to and service your clients. Without a team your ability to scale your business will suffer.

The insurance that your business needs, to protect against the risks, is great management systems. Systems that don’t micro-manage but ensures that your business has what it needs.

Optimal Outcome is a proven set of systems, that when implemented, allows your business to know what is happening, how it’s happening, and that it’s within the business's standards. You’ll learn to empower your team, but to have the insurance your business needs. The real question is, what are you waiting for?

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