CEO Advisor Newsletter™
April 2007
Practical Advice to Accelerate Growth and Profits

In This Issue

Define Your Ideal
Number 2 Person

Managing Risk

Words of Wisdom

CEO Advisor, Inc. - Member of Accredited Organizations


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:
  1. 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.
  2. 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.
  3. 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.
  4. Creativity - No "yes-man" or "yes-woman" is needed. A penchant for new ideas and solutions is what you want.
  5. 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.


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 for more information.

  • Managing Risk
  • Managing Risk

    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 or call Mark Hartsell at (949) 759-8676 for a free consultation.

  • Words of Wisdom
  • "You are successful the moment you start moving toward a worthwhile goal."

                                            - Charles Carlson

  • CEO Advisor, Inc. - Member of Accredited Organizations

    • 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

    Or call (949) 759-8676

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