Thinking of opening your own business? Already the proud mama or papa of your own operation? Or have you climbed your way to a management or executive position? Congratulations! Your work has just begun. Now instead of working 40 hours per week for peanuts, you can work 60+ hours per week, take no time off, and pour your blood, sweat and tears (and probably a lot of your own money) into making your baby grow and thrive.
You have created your business plan, mapped out your strategy for the next five years, and secured your financing. But how much time and thought have you put into deciding what kind of leader you want to be? Surely you have not forgotten your responsibilities towards the people you manage and/or employ?
Having worked with business owners and managed many a business myself, I know how easy it is to focus too much on making people do what you want them to do, without much thought to what kind of leadership those same people need in order to perform for you. I also remember what it is like to be the person at the bottom rung of the corporate ladder, being affected by every decision and policy change that filters down from above.
Fortunately for all of us, there are ways to keep your perspective, even as you focus on the big picture. By remembering how stuff rolls downhill, you can better decide what should roll downhill, and in what manner! Over the coming weeks and months, I would like to share my own unique perspective of business from the bottom up, in addition to the lessons learned by the business owners and leaders with whom and for whom I have worked.
I know there are countless numbers of you who have been, or still are, at either end of the org chart. Let's collaborate on what works and what does not, and let's see if we can build a better CEO in the process! I invite you to start the ball rolling with questions and topic ideas. Any takers?
-Jennifer Blaney has spent the past decade managing small businesses, from privately owned, to franchised, to corporate owned operations. She has held every role from housecleaner to telemarketer to Vice President of Operations, and remembers what life is like at the bottom of the org chart. She holds a BS degree in Business Administration. Jennifer has a passion for small businesses, and a special place in her heart for business owners and entrepreneurs. She is currently the GM of a publicly traded franchise that serves over 22,000 member businesses.
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Comments: 6
Both my wife and I have survived the corporate "experience" and are now self-employed. While being self-employed can in fact be Hell, it is a user-friendly version of Hell compared to the corporate route.
Your idea is a good one. How about covering the essential need for developing and living by a planned budget?
Without our budget as the bible for our operating plan, I doubt my wife and I would survive. A workable budget also greatly decreases the need for "stuff to roll downhill".
Too bad budgets weren't more glamorous, then maybe people would take them seriously. They are, after all, the foundation the house sits on.
As the founder of a small biz, my job description included techie, janitor, shipper, sales, marketing and bookkeeper and guy with his house securing the bank float.
As we grew to 8 people, I had to assume the CEO role of accounting and finance, personal (daycare) manager, lawyer, corporate development.....chief cook and bottle washer.
Being the boss sucked, I was an accountant or baby-sitter most of the time. I missed being that techie guy, creating new things that did kewl stuff from fun clients.
The fun level began to drop, and in retrospect, soon after the sales and margins followed.
The life of a company comes from the fire within its heart.
After having been self-employed for 17 years, I decided to become self-unemployed.
I sold the company to the last good man standing for 1$. Cashed in my chips, sold everything and moved my budding family to a safer domain than the big city life.
I learned how to start, grow and manage a small tech company.
I learned that you dont get paid for the first couple of years, but when its there take it out. The single most important thing I learned was knowing when and how to take out the profits while minimizing the taxes.
Jennifer, based on your experience I am sure you've had to deal with that problem several times, and believe your insights would make for some good reading.