The necessities of a successful branch managerDonald Cotebranch manager tips, marketing, technology, entrepreneurial economics
So, what does it take to be a successful branch manager?
Business acumen. To be an effective branch manager, you must
possess the skills of a good business manager (or at least be
willing to learn them). You must also understand sound business
principles and practices. Drive and ambition are necessary
ingredients as well. However, running a branch without
understanding how the game is played is like steering a rocket
without a navigation system.
There are many aspects to running a business. To stack the odds
in your favor, branch managers must realize that a branch is really
a business center, with all the financial responsibilities of any
fully functional independent business. Branch managers who believe
otherwise are sorely mistaken and will find themselves grossly
under-prepared. Regardless of how much back-office support is
provided by corporate headquarters, the person running the business
center must be acutely aware of all aspects of a full-fledged
business.
So, exactly what do you need to know, and how well do you need
to know it? Do you have to perform all of these important tasks and
functions, or can you outsource, delegate and otherwise off-load
them? In order to maximize the effectiveness of the manager's
skills, you must certainly know each office function well. You
can't effectively manage what you don't understand. In a perfect
world, a manager's time should be spent monitoring and managing the
people and systems that actually handle the work. Therefore, you
must know what it's supposed to look like and how it works.
It is not a prerequisite for a branch manager to possess an MBA.
I am not recommending a change, nor am I suggesting that that those
who aspire to become a branch manager should run right out and get
one. MBAs are a costly and time-consuming endeavor. I do, however,
suggest being astute in the following areas:
*Strategic and tactical planning
*Marketing and advertising
*Human resources management
*Training technologies and psychology
*Entrepreneurial economics
*Financial analysis and accounting
*Electronic technologies for business
*Risk management
*Sales
Mastering this partial list will provide the platform for
successful planning, organizing, leading and controlling functions,
which are the true work of a manger. For the manager who takes the
time to learn the various aspects of running a business (and there
are many inexpensive ways to do so), the possibility for success
will be tremendously increased.
Those who feel the job of the branch manager is anything less
than that of an entrepreneur are likely to be met with mediocre
results. The financial rewards of most branch manager opportunities
are unmatched in virtually any other industry, given the minimal
amount of formal education that is required by most branch manager
job descriptions. However, let it be known that in any significant
undertaking, it is almost always the one who has the most knowledge
that wins ... and everyone loves a winner. Learn to win.
Donald Cote is a national trainer of business strategies,
real estate investing and government assistance programs, and
director of the branch division of Bay Capital Corporation. He may
be reached at (800) 974-6296, ext. 3535 or e-mail
[email protected].
