Each business is different, but a pointer is when the business’ operations exceed one person, this is when the company shall have professional management. It is when the owner should be thinking about delegating some of the company’s operation and administrative processes. It is not an easy decision, more when the owner has done everything for years and has seen its dream grow in the manner it imagined. This process requires several phases, which shall be accompanied by the owner’s will to make them happen:
In the first phase, it should be found the person that will be the company’s chief executive officer. It should be a person with the necessary qualifications and experience to continue with the grown of the company, in the same manner that has been done by the owner. This person should have all the owner’s and the company’s personnel support.
In the second phase, it should be worked on the company’s new organizational chart, and from it, it will derive the company’s manuals and policies.
The third phase is carried out jointly with the second phase. In this phase should be designated the persons who will hold the positions created in the new organizational chart. In this process, it should be considered the company’s current personnel and external persons. Unfortunately, in this phase, in some cases, it is necessary to let go of some personnel that is not considered to be capable of evolving with the company.
The fourth phase concentrates on the corporate governance model, the best way to develop and establish it, this with the purpose that all the company’s bodies operate in an organized and efficient manner.
The fifth phase focuses on the flow of information that the company should have; this is all the statistics, financial and administrative data that the company’s key officers should have access to in order to operate the company.
The sixth phase focuses on working over the internal control systems and flow of information to establish operation and investments budgets and the costs, in its case.
It is worth noting that some of the phases can be carried out simultaneously, as long as the conditions within the company allow it.
Oscar Brieño
Gloria Ponce de León & Hernández
