Business Managers analyze, plan, and control the activities of a business. The skills utilized in this role can also be applied to a number of other related career paths. If you’re interested in using your business management skills to pivot to a related industry, keep reading for more information about some options.
What is a Business Manager?
A Business Manager is a leader who supervises the personnel and operations of a department or organization. They work to maintain productivity, efficiency, and organization, and to help the company achieve its goals. They also help improve overall performance and find new opportunities for growth and improvement. A small company might have only one Business Manager, while a larger company might have a number of them. Some Business Managers specialize in a specific area such as marketing, sales, or administration.
A Business Manager typically takes responsibility for a wide range of different tasks. These vary depending on the industry they work in and the company they work for, however, in general, this position involves four main aspects. One is planning, which means setting future goals and making a plan for achieving them. The second is organizing tasks and resources so that business plans can be implemented. A third part of business management is leading employees. Finally, Business Managers are responsible for controlling the operations of a business, which means keeping track of how it is performing and making any changes that are needed.
Business Manager Skills
A Business Manager is responsible for overseeing business operations, which means that if you plan to work in this role, you’ll need financial literacy. This includes the ability to understand basic financial and accounting concepts. You’ll need to be able to read financial statements like income sheets and balance statements. As a Business Manager, you should be able to work with budgets, make forecasts, and understand assets and liabilities. Another basic financial skill you should have for this role is an understanding of business and tax law.
This job also involves managing personnel and communicating with many different people, and you’ll need a number of different soft skills. One of the most important is leadership, including being able to delegate tasks, inspire a team, foster collaboration, and solve conflicts. You’ll also need to have strong verbal and written communication skills, since this job involves constant communication. Other soft skills that you’ll need as a Business Manager include time management, problem-solving, and strategic thinking.
Another thing you’ll need to master if you work in business management is the software that you’ll use. Business Managers typically use a number of different software applications, which vary according to the specific job involved. You’ll most likely need to learn financial and accounting software such as Quickbooks. This type of software can save you time, reduce errors, and make it easier to analyze data. If your job involves project management, you may also need to learn a project management application such as Microsoft Project to help you do things like manage resources, monitor progress, and track schedules and budgets. Another common type of software used in this profession is data analytics software like Tableau. Businesses of all types and sizes often use data analytics software to help them get a better understanding of what their customers want, how the business is operating, and how they can do better.
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Related Career Paths
Financial Manager
A Financial Manager oversees a business’s finances. They create financial goals, analyze financial data, manage financial teams, prepare financial statements, and make forecasts for the future. The U.S. Bureau of Labor Statistics (BLS) predicts that between 2022 and 2032, the job growth rate for this position will be 16 percent, which is far higher than the average U.S. job growth rate of 3 percent. It explains, “Services provided by financial managers, such as planning, directing, and coordinating investments, are likely to stay in demand as the economy grows. In addition, several specialties within financial management, particularly cash management and risk management, are expected to be in high demand over the decade.” This job pays well; according to BLS, Financial Managers earn about $156,000 yearly.
Advertising, Promotions, and Marketing Manager
An Advertising, Promotions, and Marketing Manager directs a company’s marketing activities. They plan marketing activities and monitor the results of these activities. They also manage marketing staff and meet with clients. BLS predicts that jobs in this field will grow by 6 percent over the next decade. It reports, “The continued rise of electronic media will result in decreasing demand for print advertisements. However, the demand for advertising and promotions managers is expected to be concentrated in industries that rely on these workers to create digital media campaigns that target customers through the use of websites, social media, or live chats.” According to BLS, the average salary for an Advertising, Promotions, and Marketing Manager is $156,000.
Compensation and Benefits Manager
A Compensation and Benefits Manager specializes in overseeing a company’s compensation programs for employees. This might include things like managing benefits, determining salaries, and making sure the company complies with government regulations. According to BLS, over the next ten years, there will be 2 percent growth in this field, which is slightly below average. It says, “About 1,100 openings for compensation and benefits managers are projected each year, on average, over the decade.” The average salary for this position is $136,000.
Sales Manager
A Sales Manager is a professional who oversees the sales operations of a company. The tasks involved in this job include setting goals, creating sales strategies, making budgets, and tracking performance. A Sales Manager is also responsible for hiring and training a sales team. As reported by BLS, 4 percent growth is expected for Sales Managers. The agency notes that this job can involve travel. It explains, “Many sales managers travel to national, regional, and local offices and to dealers’ and distributors’ offices.” It says, “About 43,200 openings for sales managers are projected each year, on average, over the decade.” The average salary for this role is $135,000.
Training and Development Manager
A Training and Development Manager plans and directs company programs that are designed for training employees. They strive to create programs that help employees work more efficiently and fulfill the company's goals. According to BLS, this profession will see 6 percent growth over the next decade. It explains, “Innovations in training methods and learning technology are expected to continue throughout the decade, particularly for organizations with remote workers. Organizations use social media, visual simulations, mobile learning, and social networks in their training programs. Training and development managers need to continue modifying training programs, allocating budgets, and integrating these features into training programs and curriculums.” The average salary for this position is $125,000, according to BLS.
Computer and Information Systems Manager
A Computer and Information Systems Manager is focused on managing the computer-related activities within a company. This job can include monitoring and installing new software, managing how technology is used and data is stored, and keeping computer systems secure and up-to-date. According to BLS, jobs in this field will grow by 15 percent over the next decade. It notes that some of this growth will be driven by increased security needs, explaining, “As cybersecurity threats increase, implementing more robust security policies will be especially critical for organizations that manage sensitive information.” The average salary for this position is $169,000, as reported by BLS.
How to Decide Which Career is Right for You
If you’re trying to decide which career is right for you, it’s a good idea to start by getting a good understanding of what each career involves and the skills required. This will help you make a better assessment of whether or not your existing skills match that potential career, and what skills you might need to learn. Another important consideration is what the current and future job market looks like for each career that you’re considering. This includes average salaries and predictions for future growth in that field. You can do a lot of this research on your own, but it can also be very helpful to talk to people who work within that field. In an article titled, “You’re Thinking About a Management Career Path. How Do You Know If It’s Right for You?” LinkedIn stresses that you should do a lot of research before committing to a particular career. It says, “If you have decided to pursue a management career path, it's important to prepare yourself for the transition and the challenges ahead. You can assess your strengths and weaknesses as a potential manager and identify areas for improvement.” It insists that part of this research should include seeking out expert advice. It says, “It's beneficial to seek out mentors, coaches, and role models who can offer guidance, advice, and support. . . . Last but not least, don't forget to network with other managers and professionals in your field or function; this is an excellent way to learn from their experiences and insights.” Another great way to learn about potential careers is to take a business management class.
Learn the Skills to Become a Business Manager at Noble Desktop
Noble Desktop is a New York City-based school that offers a wide variety of business classes, both in person--at its Manhattan facility--and in a live online format. Courses include comprehensive, hands-on bootcamps and certificate programs, which are designed to help you master all the skills that you’ll need in order to work as a business manager. Noble also runs a number of shorter courses where you can spend a day or two learning essential business skills like financial modeling or Excel. This school is licensed by the New York State Education Department.
- One popular Noble Desktop option is the “MBA” Business Certificate. This course is an “MBA-style” program and it includes some of the skills taught in MBA programs. In this class, you’ll learn tools and strategies for finance, project management, marketing, and data analysis. You’ll also learn about the practical applications of generative AI, and will get access to a self-paced class that covers the basics of business insurance, employment law, and business law. This class includes the option to take electives that match your specific area of interest. Finally, it comes with eight one-on-one mentoring sessions.
- Another popular certificate program is the Data Analytics Certificate. In this course you’ll learn about gathering, wrangling, analyzing, and visualizing data, and you’ll work on a number of real-world projects. Both predictive and prescriptive analytics are covered, in addition to Python, Excel, Tableau, and SQL. All students also receive eight one-on-one mentoring sessions, which can be used to work on challenging concepts or for resume and portfolio advice.
- Noble Desktop also runs many different business-related bootcamps. The Project Management Bootcamp is a popular option. This class is designed for students who want to learn more about project management. It is a combination of the school’s Level I and Level II classes and is offered at a discount. When you take the Project Management Bootcamp, you’ll learn the five phases of project management and will receive a slide deck that contains a variety of exercises. You’ll also learn about Waterfall, Critical Path, and Agile methods of project management, including popular Agile frameworks. You’ll receive a certificate of completion at the end of the class.
- Another bootcamp option is the Chat GTP & AI for Business Bootcamp. This course is designed to give you the skills you’ll need to utilize AI in your daily business tasks. You’ll learn how to create effective prompts, manage conversations, and use advanced features like memory settings. You’ll also learn about the ethical considerations of AI. In addition, the course focuses on ways to use AI for task management, communication, and project planning. You’ll learn about automating repetitive tasks, optimizing schedules, and improving collaboration and administrative workflows.
- Noble also offers many shorter classes focused on a number of different business skills. For example, it has a variety of short Excel classes: Excel Level 1,Level 2, and Level 3. Level 1 is focused on getting familiar with the interface, entering data, using essential formulas and functions, and creating charts. You’ll also learn how to format and print. Level 2 covers splitting and joining text, adding data validation, named ranges, database functions, adding logical statements, and using Pivot Tables. In addition, you’ll learn to use statistical functions and create advanced combo charts. In Level 3, instructors cover advanced concepts including cell locking, auditing, hotkeys, formatting for calculating dates, advanced functions, advanced analytical tools, Pivot Charts, and advanced database functions.