3 Management Lessons for New-age Entrepreneurs

New-age entrepreneurs while stepping into the shoes of a business owner sometimes do not possess management lessons
  • BY Jaspreet Kaur

    Feature Writer, BusinessEx

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  • Sep 06,2021
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  • 9 Mins Read

Business culture holds a different aura. It can be conducive, as well as depressive, depending on the leader taking the reins. One can either be an indecisive leader who is perplexed in decision-making or a stern leader that makes sure employees meet their target in every possible situation. There are various reasons as to why these leaders are admired or loathed in the business landscape. 

However, both the leaders teach important management lessons. New-age entrepreneurs while stepping into the shoes of a business owner sometimes do not possess management lessons. Here are some of the vital management lessons that new business owners should embrace in their company. 

Don’t Mistreat Employees 

Appreciate employees when they perform well or achieve a target easily. When employees participate in the team activities and other special incentives, besides appreciation, they should be surprised with gifts also. They should not be mistreated and strong bonds have to be built. 

Such relationships help bolster their performance and create a sense of attachment within their mind. At the same time, it is crucial to not induce a fun environment and thus, maintain a balance in the work space. Creating boundaries is another good thing in the workplace as it serves as a constant reminder of the employer-employee relationship. 

Respect is a paramount thing that is embedded in a rapport. Apart from this, friendship and direction should be added in the bond. This will prioritize work and initiate fun following that.

Create Work-life Balance

To achieve targets, you have to be strict with employees. You have to be clear with your demands and ensure that others are able to meet them. While doing so, ensure that employees are not working day and night to attain targets. Getting a work break or work-life balance is crucial in the workspace. Otherwise, burnout rate will be increasing and in turn, affecting their performance in the offing. 

With poor balance between personal and professional life, mental and physical health of an individual will eventually deteriorate. Such employees decide to quit the company disregarding good pay and other relevant comforts. 

Therefore, try to build a health work environment wherein professional and organizational goals are attainable. In addition, constant support is rendered to the staff and thus, stimulates them to perform better.

Give Recognition to Employees 

When employees perform bad or could not meet your expectations, they should not be insulted with stark comments. Despite being rude, you need to show some respect to them. It is important to make them feel guilty and for that, remind them what mistake is actually done. Also, give them room for improving themselves.

In an alternate situation, employee recognition is equally important. While creating a business plan, an employee recognition plan should be included. 

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