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How do you make a managed business run perfectly?

The doctor will then conduct a physical examination to find out how the patient is now. The committee, too, will want to know how things stand at this moment. Is action being taken? Do long-term orders show the same trend? What are the latest figures? What is the current stock position? How much money is left in the advertising budget? The chairman may give them a choice: “If we can agree on a course of action, that’s fine. If not, we’ll have to set up a working party to report and recommend before next month’s meeting.” If you’re looking to structure your next big push, or you just want to set and track realistic deadlines, then this is the process for you. Then again, feel free to skip ahead to any particular step you’re after.

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Probably worth mentioning why I haven’t included high traffic location on the list. The reason is that it doesn’t necessarily work for coffee. Sure, you have to be located in the area where there are a sufficient number of people, but you don’t need the high traffic location in that area. For a start, it will carry the most expensive rent, secondly you will be competing for that space with A1 tenants (Banks, telcos, fashion houses, franchise chains), making it near impossible to get as a stand alone coffee shop business anyway and thirdly, high traffic dose not always translate into high turnover for coffee. I made that mistake once, failing to realize that coffee is a destination rather than an impulse purchase and too much traffic can mean that people are more focused on getting somewhere else rather than stopping to enjoy your offer. Believe me, my #1 will overcome the need to get that high traffic location, and the lower rent will make your coffee shop far more financially sustainable and successful.

If you aren’t good at “managing up,” you rarely get the opportunity to “manage down.” Fortunately, I’ve always been quite good at self-management. I’ve never had a deadline that I didn’t meet. The reason for an item being on a meeting agenda is usually like the symptom we go to the doctor with: “I keep getting this pain in my back” is analogous to “Sales have risen in Germany but fallen in France.” In both cases it is clear that something is wrong and that something ought to be done to put it right. But until the visit to the doctor, or the meeting of the European marketing committee, that is about all we really know.

There is no one secret to a successful coffee shop; in fact, most secrets in business boil down to either hard work, extensive experience, or luck or a combination of all three. I have taken success for this post to mean financially sustainable with an appropriate ROI for the owner, which means not necessarily giving the customer everything they would wish for. But, at the same time, discourage the clash of personalities. A good meeting is not a series of dialogues between individual members and the chairman. Instead, it is a crossflow of discussion and debate, with the chairman occasionally guiding, meditating, probing, stimulating, and summarizing, but mostly letting the others thrash ideas out. However, the meeting must be a contention of ideas, not people.

In the simplest and most basic way, a meeting defines the team, the group, or the unit. Those present belong to it; those absent do not. Everyone is able to look around and perceive the whole group and sense the collective identity of which he or she forms a part. We all know who we are—whether we are on the board of Universal International, in the overseas sales department of Flexitube, Inc., a member of the school management committee, on the East Hampton football team, or in Section No. 2 of Platoon 4, Company B. This “What shall we do?” function embraces all items that require something new to be devised, such as a new policy, a new strategy, a new sales target, a new product, a new marketing plan, a new procedure, and so forth. This sort of discussion asks people to contribute their knowledge, experience, judgment, and ideas. Obviously, the plan will probably be inadequate unless all relevant parties are present and pitching in.

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book. Apply Now One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more. Book Your Session Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out. If all goes well, and the KPIs are lining up without a hitch, the project manager will pretty much just have to keep checking in with each team periodically. If, however, a deadline is missed, or a problem arises, you may have to shift or reassign resources and schedules in order to make the most out of your new situation. This sort of total detachment from the whole proceedings is usually the symptom of some feeling of affront. If you probe it, you will usually find that there is something bursting to come out, and that it is better out than in.

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