Transforming a Family Real Estate Firm: How Do I Define Roles from Peon to Owner?

I've joined my family business, a real estate firm that has been running with a traditional system lately. Now, I want to transform it into an advanced organization. So, the first thing I need to do is define roles for everyone, including myself. We are a partnership firm, and I am one of the directors in the company. Recently, I have transferred my firm to a private limited company.

Categorizing Designations

How should I categorize designations for every individual from peon to owner?

Thanks and regards,
Imtiyaz

To define the role of each individual, you need to start with the preparation of the organization chart. Within the Directors, it is essential to determine who will handle each function, such as Marketing, Operations, Finance, etc.

Apart from defining the roles, another crucial aspect is deciding the performance metrics. The performance standards must be established and measured scientifically. Your future growth and decision-making will rely on the quality of information you begin generating today. The most effective approach is to design performance metrics for each function/department and subsequently for each individual.

I have previously provided consulting services to help establish a comprehensive Performance Management System (PMS) for one of the prominent developers in Pune. The elder brother serves as the MD, overseeing Finance, HR, and future business endeavors. The younger brother, as a Director, manages Operations, Projects, Planning, and related areas. I observed that they diligently focus on their respective areas of activity without encroaching on each other's domain. If you are interested, I can offer you the same consulting services and help transform your operations. Feel free to contact me.

Thanks,

Dinesh Divekar