Sergii Tymchuk is a young Ukrainian entrepreneur who founded Computools in 2013. This small software development company has grown into a global business player in less than a decade. In addition, it continues to grow and expand into multiple markets around the world.
Today Computools houses over 200 specialists and professionals who jointly offer customer-specific software solution services and support companies around the world in their digital transformation. It's not easy to manage such a large talent pool, but Sergii has developed his own strategy to maintain constant business growth without losing profitability.
We have prepared to speak to him about what makes his business successful and how a growing company can be protected from poor management, inconsistent operations, or stagnant performance.
Home Business Magazine (HBM): How do you manage to keep your company growing in these uncertain times?
Sergii Tymchuk (ST): "I use what is called 'regulatory management." I learned about this management style a long time ago when I earned my certification at IBM. The benefit of regulatory management is that you can do it in a startup or small business as well as in a large corporations, so you can lay a solid foundation for your business that doesn't need to be restructured when your business is growing rapidly or, on the contrary, when it is temporarily in decline. "
HBM: Can you give us further details so that other entrepreneurs can also make use of them?
ST: “The purpose of regular management is to provide effective top-down control over a company's performance. We all see that today's market is extremely turbulent and unpredictable. It doesn't matter if you run a small business or an international one as almost all of the businesses have already gone online. The success of a company depends above all on how well you can organize workflows and business processes.
Regulation management requires dividing your company into multiple areas or areas. Suppose you have an online store. Most likely, you will have to deal with delivery, marketing, support, and delivery. Each of them is viewed as a stream that needs relevant specialists. By dividing your business activity vertically or horizontally, you set barriers between departments so that your specialists can better come together and focus only on their area of responsibility. With this categorization you can lay the foundation on which you will later manage and add business processes. "
HBM: If streams should be disconnected, how do you maintain business performance integrity?
ST: “Every stream needs a manager. It needs to be someone with relevant expertise and skills to organize workflows from scratch. Small businesses can assign one person to be responsible for multiple streams, such as: B. Shipping and delivery. Although streams are isolated from one another, they have some common points where managers can streamline business processes and integrate all departments with one another. "
HBM: What is the best way to have effective communication within each stream?
ST: “The most important rule for effective communication is an ongoing internal connection between all team members. If you want your team to come up with brilliant ideas, you need to provide a suitable environment in which they can do so. You need to be in constant contact with each other. If you have a suggestion, you should be able to discuss it immediately and put it into practice. I recommend starting with simple chat apps like Skype, Slack, or Workplace by Facebook that help team members to be united in one place. "
HBM: What other tools would you recommend for effective team management?
ST: “In addition to chat apps, I personally like to use Google Data Studio, which greatly simplifies the process of exchanging data within the team. However, you can choose any data visualization tool that allows you to present data in charts, mind maps, charts, etc., and that has good options for data integration with other apps. Whether project development or employee performance management, data visualization software is of great use to you every time you need to process large amounts of data or make quick decisions when you are faced with uncertainties. "
HBM: What is the best course of action when the company is performing poorly?
ST: “The work of a team is always a result of the manager's efforts to explain team roles in a project. Each team member should have a clear understanding of what to do. This knowledge prevents them from entering an area beyond their specialist knowledge and allows them to focus on their core tasks during project development. We organize 1 to 3 regular meetings per month where experts and teams can discuss the most pressing work-related and / or project-related problems.
However, managers should prepare for these meetings. All managers create a presentation outlining a strategy for working out with the team, commenting on the latest changes to business processes, and outlining tasks and immediate goals. Being on one side with each other is key to getting the job done on time and in the right way. "
HBM: It must be difficult to involve over 200 employees in team meetings and discussions. What's your secret sauce?
ST: “You don't have to have all of your team members in every meeting to change the way your business works or to implement a new high-level strategy. The main job is to get your idea across to the stream managers. Your job is to break this idea down into smaller tasks and assign them to relevant specialists.
Another important feature of meetings is follow-up writing. When someone is absent, we don't have time to go back to our decisions and conclusions and go over them again so that those team members can catch up with everyone. Instead, it's easier to send them a quick follow-up detailing the key points that were discussed during the meeting. Using follow ups is a great way to save time and help everyone be on the same page. Don't forget to include the link to the presentations so that all managers and team leaders can access it whenever they need to manage processes or make decisions. "
HBM: Is there another way companies can strengthen their competitive advantage in the market?
ST: “I firmly believe that relocating part of your online business is a gateway to better ability to withstand market volatility and new opportunities to streamline business processes. If you build your business infrastructure on digital solutions like cloud services, enterprise software or PWAs, this creates the potential for further business growth and brings automation into your operations, so that you can lower your operating costs and invest in other aspects of your business that was not possible before Afford. Similarly, you get some kind of safety pillow as you are not restricted in your partnerships and collaborations that take place online.
Regular management isn't for everything, but it is a good strategy for creating a solid foundation for running your business that allows you to maintain control of your business performance without losing efficiency and profitability. "
Computools' post-CEO on Building Robust Business Management first appeared in Home Business Magazine.