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Millennial Management

The 21st Century demands a new standard in small business management.
I call that new standard Millennial Management.

For over 30 years, the E-Myth (or the E-Myth Revisited) has been the “go to” book for small business owners. Perhaps the E-Myth was great for 1985 and even 2000 (respectively), but the model doesn’t stand up to the needs of business today. There is no way for today’s small business owner to establish and document systems to the level of a corporate franchise, nor will that work to attract, retain and engage high performing employees. And the idea that we should hire to the lowest possible skill set for any position and regulate from there is an old-school model that simply will NOT support today’s small business.

Rapidly changing markets and constantly shifting technology require the successful business of the future to leverage the contribution of active, engaged and motivated employees. Millennial Management is a strategy to grow business past the inherent limitation of one person’s span of control and to leverage the owner’s vision through the contribution of others.

Why call it Millennial Management? Well first, of course, there’s the need to manage the Millennial generation, and many business owners struggle with translating their business needs into Millennial thinking, but also there’s much to be learned from the Millennial generation; lessons about flexibility, open mindedness and the motivation of the human spirit.

An old-school model of management is reliant on the belief that there are “things you just do” and “things that are right” and “we follow the rules because they are the rules.” Unfortunately, workers Millennial Management - Managing Limitless Possibilitiesentering the marketplace today do not have any of those beliefs hardwired into their psyches. The 21st Century employee has grown up in an environment where everything is questioned. No image can be trusted not to have been photo-shopped. No authority is without question. No trend can be relied on to demonstrate the best product or service. They have grown up with rapid change, complete transformation of reality around them, and the belief that their contribution is important (and yes, the Baby Boomers raised them that way!). So, how do we manage in this new environment? First, we recognize several key truths:

1. People want to do well – they do not leave the house wondering how they can screw up today.
2. You can no longer regulate people into right action, you must inspire them to perform.
3. The structure of strong team dynamics is intentional. It does not happen well by accident.
4. A failure in your team performance is a leadership failure – and that is good news!

Millennial Management is built on these foundations. Team members are inspired when the owner of the company is clear about the “why” of the company, the end result that contributes in some small or large way to the betterment of our world and the people in it. They are motivated when clear goals are set and performance is measured against results not actions. They are engaged when there is clear agreement on how we’ll work together, and all players are responsible for holding each other to that agreement. It’s a simple framework really, one that gives everyone in the organization the tools to make right decisions, the desire to act in the best interest of the business and clear focus on achievable goals.

It’s so simple in fact, I’ve designed a system of Six S.I.M.P.L.E. Steps to implement the Millennial Management philosophy quickly and consistently in privately held companies. I think this is so important to the small business of the future that I’m happy to tell you how I do it, to show you how I do it, or for select companies, I’ll do it for you. Let me know how I can help!

Eden Lovejoy
Dedicated to Your Business Success!


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