Common Mistakes I Had Managing a Business

  1. Giving your staff access to cash for more than a day: If your staff has cash access, they will use it for their personal use. You don’t trust in God but give your staff the temptation to steal. Daily deposits dapat.
  2. Payroll: Always double check that the SSS, Philhealth and Pagibig payments are done correctly and on time. Your staff can easily “fudge” and claim they have paid but are actually stealing money. The forms can be forged.
  3. A higher salary does not mean the staff you hire is more competent or honest. It just means mas mabola siya in getting a higher pay from you despite not being worth the money. Reward after, not before.
  4. Do not hire because “naawa” ka. It’s not a charity. When people cry, listen to what they are saying and ask more questions. Always ask for more receipts and documentation. If totoo yung kwento, mayroon yan.
  5. Always check breakdown. Lalo na with suppliers and staff reimbursal. You’ll be surprised how or why they charge you. Don’t be afraid to ask questions if you see something fishy.
  6. Document everything lalo na employment contracts, evaluation and termination. Due process palagi to protect yourself from DOLE complaints. Every time you give money, may voucher.
  7. No credit advance or bale to your staff. Once you create that habit, it will be an endless cycle of simangot and resentment. Just say no.

That said, help out when your staff is in need. If talagang may calamity, step in.

  1. If you pay for a billboard and there’s no uptick in sales, don’t continue to invest just because others are doing it. That’s called a scam. Invest only in marketing that works for YOU.
  2. Nobody knows or cares about the business more than you do. If you don’t initiate or make things happen, walang mangyayari.
  3. If you don’t know about labor laws, taxation, payroll, operations and sales, you will screw up your employee management, financials, payrolls, operation and sales, whichever ones you know.

A good boss is hands on: You must know. If you would rather hire than to know for yourself, you will pay them more for their “expertise” AND a premium for your expert’s “mistakes.”

Posted by

www.TinainManila.com Thank you for subscribing and commenting if you like what you read. ❤

Leave a Reply