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Owner vs CEO vs Employee how do you manage being all three

Written by: Craig Jennings

Article Overview: Would you, as an owner or CEO, keep you on, as an employee?

Owner vs CEO vs Employee how do you manage being all three

You need to see yourself as a company. You first are the owner. "Owner" means you have money in the business and you want more money out. So you the owner measures each month in terms of return on investment. What did I put in? What did I get back? For many entrepreneurs these are unpleasant questions. But you have to face up to them each month or each year to determine the value of what you own. Did a friend, relative or bank put up some money? They're asking the same questions, aren't they! You need monthly answers. It's the owner's business to know what's so. Are you working between 1-4 hours a week as an owner?
You need to see yourself as a CEO. You have a vision of what the business can become, a mission, complete with short and long term goals, and a purpose (which last may not be entirely about money.) You are responsible for all the strategies and tactics of running this business, from Marketing and Sales to Accounts Receivable and Accounts Payable. Are you working from 5 to 10 hours a week as a CEO?
You need to see yourself as the key employee and manager. You are doing most of the work, or making sure it's getting done. Has the owner provided enough money? Has the CEO created a vision which lights you up, and provided goals which you are striving for? Are the working facilities and personnel adequate to the task. And have you noticed that, as an extremely close relative to the Owner and CEO above, that you take advantage of that relationship and don't work hard for 40 hours a week.?
Sounds like the Three Faces of You, right?!

Here's how you get all those personalities to work for the one of you.

Agree (with those other guys) that money is the primary reason for being in this business. Be very careful about the CEO who wants to make the world a better place. That rarely pays and is often a cover for not having a clue on how the business is going to work.
Create a very simple monthly report. Call it the Owner's Report. It will include:
Capital on hand
Income
Outgo
Income - Outgo = Profit or (Loss)
It can include projections for future months.
Create/revise your business plan. I'm assuming that you got started without much of one and have managed OK. If you've taken my teleclass you have a 9-point worksheet, if you've taken my full course, it's much more detailed - and the good news is that you're brilliantly started. But a bank is going to want to see from 20 to 40 pages worth of detail. Half of the plan is going to say in words what's happening and what will happen. Half of the plan says it with numbers. If you suddenly hear a conversation about "I didn't start my own business to be a slave to the numbers," give that "employee" a kick in the ass and tell him to grow up or get out!
In the next month's version, we'll talk about the Creative Businessperson: oxymoron or occupational necessity.

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Article Tags: ceo, employee owner



Related Forum Posts
Job titles - [quote:3shpwvxj]In fact, I've had friends tell me that "Founder" is better than "Owner" since it's less possessive.[/quote:3shpwvxj] For myself, I don't care for the term "Founder" [i:3shpwvxj]because [/i:3shpwvxj]it's not possessive. You can be the founder of a company and have sold it - so it no longer belongs to you. However, if you call yourself "Owner" - people know the company is still in your hands. But I don't like Owner, either. I'd prefer President or Director, because one can be an absentee owner, whereas if one is a President or Director, people assume you're involved in the day to day activities. Manager, on the other hand, wouldn't work if its your business, because (to me, anyway) that implies that you "manage" for someone else - like at a restaurant.
RSS readers - Hi Russell, I use PageFlakes (free) to manage my RSS feeds - it's an easy way to stay on top of all the blogs that I want to read. I check in at least once a day to see what's new. You can also use it to manage information like weather, stocks, etc.
Post subject: It's Not Personal, just business - I so agree! Actually, the business world as we know it IS in trouble. I heard some stats last week that they expect by the time 2050 that 70% of workers will be freelancers. Employee/Executive Bullying won't be able to stand it when it could be easier for someone to simply contract with the nicer guy (or gal). I, for one, will be choosing the nicer ones!
Re: Cash up front ... or Royalties? - Terry I agree with what you say here. It is a matter of learning to manage your money whether it is a small amount or a large amount. People who can't manage wont do so either way and will always have a financial problem. MichelleJ
Re: 4 Ways to Go From Employee to Entrepreneur - To manage your own business and be an employee at another company is not an easy task. Every minute counts and you should manage your time wisely.Most people do this because they do not trust their business, but the fact is you can still do them both. thanks for the wise advise.


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