Business management sounds a little fancy, doesn’t it? It’s not exactly like the title “Business Manager,” which is fairly common…no it’s more than that. Business management is a service that firms provide to companies that need a little more than what you might find in a typical managerial job description.
Who uses business management services?
Lots of businesses and high net worth individual do. If you are an individual with a marketable skill that is highly sought after – say you are a top-level skateboarder, or surfer, or perhaps a vocal artist – then there is much more to you than meets the eye. Although you may simply think that these people demonstrate their skill and receive a paycheck, it’s really not that simple – although many wish it were. People of this nature are not only selling the use of their skills for entertainment, but they are selling their name – their faces. It’s a brand. And behind every brand is a business management professional.
What do they do?
Depending on the level of service you require, your business management team could handle all your tax worries, schedule meetings and interviews, set up demonstrations (shows, gigs), or help you negotiate a new contract. They can advise you in financial decisions and even help you plan for your future. What they do completely depends on you.
Don’t be mistaken
Your business management team is not the same as your personal assistant. You won’t be sending your business manager to fetch coffee or schedule your next haircut. Business management is about knowing all the fin e details of your financial situation, and knowing what career moves will benefit you the most. This can stretch into real estate acquisitions, partnership developments or even the dissolution of an existing partnership or business. Having a business manager on your side will ensure their your best interests are being served at all times.
It’s more than that too
Hiring business management professionals is all about your future. They can help you plan for the highs and the lows your career will undoubtedly face at one time or another. They can assist you with planning for your children’s futures, organizing your estate, keeping up with charitable donations and even updating your Will. All those things in life that you, perhaps, aren’t well-versed in and able to handle on your own – they’ll have you covered. From contract disputes to copyright infringement, business management service providers will cover you and be there when you can’t be.
Knowing when to admit defeat
We aren’t all business and financial scholars. When you have a talent or a particular gift, you make a living on it’s display – not by reading contracts and negotiating deals. It’s important for you to be in the spotlight so that you can produce revenue, but what you likely don’t have the time for is all the fine print. While some people are quite capable of handle many of these decisions and tasks on their own, it really does all boil down to time. What would you rather spend your time doing? Cutting through the red tape, or doing your job?