What do you need to manage your business effectively?

What do you need to manage your business effectively?
If you are asking this question AND you currently own or operate a business, you may want to hire a consultant to assist you in developing and implementing a business model. You may also want to hire or find a partner with management experience or take classes focusing on management techniques rather than simply throwing the question out there and running your business based on a few paragraphs of advice.

Generally speaking, however, managing a business requires that you can balance customer service, business skills, and strong employee-employer relations. You may want to examine other successful businesses in your field (McDonalds, Microsoft, Xerox, etc.) and see what types of management skills they used.