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The power of personally attending to your operation

www.manilatimes.net 27-12-2024 04:15 4 Minutes reading
AS entrepreneurs, we often rely on our managers for the day-to-day operations of our businesses. While delegating is essential, there's still an irreplaceable value in experiencing your business firsthand.I urge business owners to take the time to personally visit their establishments once in a while to en-sure that operations are running smoothly. After all, your eyes are one of the best tools to assess what's really happening on the ground. It's also another way to check whether your business is doing well and whether you've hired the right managers to take care of your business.Last week, I visited a well-known membership-only retail warehouse club. I was shocked to observe a significant decline in operational efficiency. Half of the registers were closed. The cashiers seemed un-trained, taking longer than necessary to scan items — so much so that we had to assist them with counting. The inefficiencies led to an unexpectedly long wait of over 45 minutes despite having only one cart in front.Although the business appeared to be thriving, it seemed as if the owners had already distanced themselves from day-to-day operations, leaving professional management to manage the company — a common fate when owners become more inclined to outside interests like golf, travel and leisure. Without real oversight, the performance of professional managers will eventually fall short.In contrast, businesses with hands-on, more involved owners run smoother. For instance, we had a wonderful experience at a samgyeopsal restaurant in Tomas Morato for our Christmas party. The staff was attentive, responsive and genuinely cheerful despite the large volume of work. Their eagerness to serve us created a memorable dining experience. While the food and price were excellent, their service stood out. That level of service didn't happen by accident — it's the result of strong leadership and a business that is well-managed from top to bottom.The difference between these two experiences highlighted a key lesson: Great customer service is not just about the product but how people are treated. As consumers, we often don't think much about the person serving us. How you are served, though, does correlate to how employees feel about their employers. When business owners stay involved and are engaged, employees feel valued and supported. This trust translates into a happier customer experience and stronger employee reten-tion.That's why I realized the importance of visiting my shops regularly. While data and reports provide val-uable insights into how a business performs, nothing compares to seeing your operations as an end user. Observe and talk to your customers. Buy your products as if you're the customer. Double-check whether the entire process is seamless or if there's anything else you can improve on. Such attention to constantly improving business operations adds up, and your customers will feel the difference.Each visit reveals many surprises. I see numerous areas of improvement, ranging from repairs to staff-ing inefficiencies. During one visit, I noticed a staff member who was slow and disorganized. She was unfamiliar with where common items were stored. That day, we ran out of spoons. My feedback prompted our management team to make quick adjustments, leading to improved guest experiences. Had I not visited, I'm sure our customers would have felt the same issues, and the problem would've gestated.I also check on my managers while I'm at it. Not every manager is immediately competent merely be-cause they hold the position. Some may have skill gaps and require further training. You don't know what else your leaders need to perform at their best if you don't check.Previously, I wrote about a manager whose capabilities left much to be desired. I wouldn't have dis-covered the gap without going to the shops and talking to our employees. Fortunately, that manager improved significantly after receiving feedback. I'm sincerely happy with him now and see the results of his progress when I visit his stores. People change when they know you care about how they are doing and recognize their capabilities. When they know you've seen their work, your feedback be-comes more sincere, relevant and trustworthy.Yes, numbers matter. It's easier to stay inside the office and bark out instructions. However, if you want your business to delight customers, don't rely merely on data — take the time to visit your busi-ness, observe your operations and engage with your staff. It's one of the most effective ways of en-suring that your business is running smoothly and is headed in the right direction. You'd be surprised at how much of a difference it can make. I know it made a big difference with mine.Tina Khoe Ang is a retail entrepreneur, managing 30 branches in Metro Manila, and a master franchisor of an American frozen treat brand with 10 shops. She is a moderator at the Philip-pine HR Group on Facebook, and a co-host at The HR Cafe: Usapang Trabaho, Buhay, Atbp webshow every Sunday af-ternoon. Read her blog at https://tinainmanila.com/. Her email is tinakhoe@gmail.com.

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Fed officials say job not done on inflation
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by manilatimes.net

Fed officials say job not done on inflation

TWO Federal Reserve policymakers on Saturday said they felt the US central bank's job on taming inflation was not yet done, but also signaled they did not want to risk damaging the labor market as they try to finish that job.The remarks, from Governor Adriana Kugler and San Francisco Fed President Mary Daly, highlight the delicate balancing act facing US central bankers this year as they look to slow their pace of rate-cutting. The Fed lowered short-term rates by a full percentage point last year, to a current range of 4.25-4.50 percent.Inflation by the Fed's preferred measure is well down from its mid-2022 peak of around 7 percent, registering 2.4 percent in November. That's still above the Fed's 2-percent target and in December policymakers projected slower progress toward that goal than they had earlier anticipated."We are fully aware that we are not there yet — no one is popping champagne anywhere," Kugler said at the annual American Economic Association conference in San Francisco. "And at the same time... we want the unemployment rate to stay where it is" and not increase rapidly.In November, unemployment was 4.2 percent, consistent in both her and colleague Daly's view with maximum employment, the Fed's second goal alongside its price stability goal."At this point, I would not want to see further slowing in the labor market — maybe gradually moving around in bumps and chunks on a given month, but certainly not additional slowing in the labor market," said Daly, who was speaking on the same panel.The policymakers were not asked, nor did they volunteer their views, about the potential impact of incoming president Donald Trump's economic policies, including tariffs and tax cuts, which some have speculated could fuel growth and reignite inflation.

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