We live in a far more globalized world than even what it was ten years ago. That said, as a leader and business owner you need to be flexible in terms of how your business runs and how you oversee your team. Often, for a variety of reasons, entrepreneurs do live in a country removed from where the bulk of their employees are located. And while this may be a bit more challenging, it is certainly doable. Again, it is all about flexibility and being able to adapt.
Make sure those who work for you are self-starters
You want people who are self-motivated, who don't require micromanaging and who jump right into a task and see it through to the end. If you reside in another country, it becomes far more difficult to oversee every single detail of every single project. And so you want to look for those individuals who aren't afraid to get it done on their own. Upon starting the job application process this is what you need to be on the lookout for—this kind of independent-minded candidate. Plus, in hiring those self-starters you are likely hiring those who will make meaningful contributions and thus bring tremendous value to the company.
Learn how to delegate
This is key. If you've hired the right people, now it is time to step back and let them do what you hired them to do. You cannot do it all. Especially if you are abroad, trying to handle all tasks involved with the business is going to be near impossible. The key to operating a company from a distance is to streamline the processes, and how do you do that…first off, by delegating.
Make sure you have ample communication channels
The great thing about the modern era is that there are so many ways that people have to communicate. And especially within the context of doing business, you need to avail yourself of as many as you can. From virtual conferencing to utilizing boards such as Trello and Slack, to texting when required, keep the communication lines open. This too helps establish greater trust among your team members and also, among you and your staff.
Get that technology in place
Again, there are so many technological advances out there that make running a company from abroad easier than it otherwise would be. You want to invest in high-quality equipment. The worst thing is to purchase subpar products and then run into glitch after glitch as you are in the process of trying to conduct a meeting for example or put on a presentation. Make sure your software is always up to date; it may not be a bad idea to invest in having a third party perform annual checkups for you.
First Union Lending works with small businesses across the country ensuring that they get the funding necessary for whatever project they might have in mind. If you need additional cash, we can help. Call today!