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Define Your Ideal
Number 2 Person
Imagine that your job has
grown - in head count, responsibilities, workload - and
you need to find a number two person to help you
manage the business effectively.
What traits should you look for? As a good leader
you're courageous enough to hire someone as
talented as you are and that's a good start.
There are five qualities to consider:
- Complimentary skills, values and
personality - You'll want someone who can work
with you on tasks too big for one manager yet
someone who can also work independently. Find an
associate with complimentary knowledge, experience
and academic degrees - don't hire another you.
- A healthy ego - A number two person
must be able to find satisfaction below the top and
accept that he or she will not get as much credit as the
leader.
- Credibility - A number-two manager
trusted by the group can be a conduit of information.
Look for someone who can organize information and
present it to you clearly so you can set priorities and
make critical decisions.
- Creativity - No "yes-man" or "yes-woman"
is needed. A penchant for new ideas and solutions is
what you want.
- Courage and Loyalty - Balancing these
two traits is a major challenge. Someone who will tell
you the hard truth yet won't betray your confidence is
the ideal candidate. Most importantly, you need
someone to manage your business in your absence,
and possibly be your successor.
For more information, call (949) 759-8676.
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Greetings!
Our mission is to provide
CEO's and business owners of small to mid-size
companies the
needed focus and expertise, coupled with hands-on
advice, to grow
your business. To take your business to the next
level, call Mark Hartsell, MBA, President at (949)
759-8676 or visit us at
www.CEOAdvisor.com for more information.
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| Managing Risk |
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Every business should have
a strategy for managing risk. Businesses today have
to operate in an entirely different environment
compared with that of ten or 20 years ago. Staff are
more mobile, customers are more demanding, prices
are less static and the idea of a global market is far
more real.
There are four chief categories of risk, all of which
should be part of a growing company's risk strategy.
Financial Risks - Regularly measure your
liquidity and cash flow, your ability to extract money
from your customers in time to pay your suppliers and
other creditors.
Strategic Risks - Be aware of the chances
of a
worthwhile return on your investment in R&D and,
conversely, the risk of losing business by failing to
spend in that area.
Operational Risks - These include issues
such as
your accounting controls, IT systems and technology,
recruiting and retaining key staff and changes to your
supply chain.
Hazard Risks - Potential perils to consider
include
damage to plants or equipment, staff illness or injury,
theft, fraud, vandalism and natural disasters.
Measure and calculate financial ratios of your
business or have a business advisor assist you -
these ratios
are critical to qualifying for business loans, funding
and maintaining a healthy, solvent
business.
Many business advisors now believe risk
management should include creating and protecting
the value in your business, and even using that to
seize
opportunities. Being risk aware must involve
weighing volatility and turning it to an operational and
competitive advantage.
Vist us at
www.CEOAdvisor.com or call Mark
Hartsell at (949) 759-8676 for a free consultation.
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| Words of Wisdom |
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"You are successful the moment you start moving
toward a worthwhile goal."
- Charles Carlson
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| CEO Advisor, Inc. - Member of Accredited Organizations |
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- Tech Coast Venture Network
- Technology Council of So. Cal.
- Orange County Venture Group
- Irvine Chamber of Commerce
- Newport Beach Chamber of Commerce
- Institute for Independent Business
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