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Are you An Owner, A Manager or An owner Manager???

Many business owners believe that they should have an answer for every question and a solution for every problem regarding their business.

Get away from this mindset. Recognize the difference between management issues and ownership issues.

An entrepreneur is often contrasted with a ‘manager’, even though they are both the key persons in an enterprise that help in the organization, management, control and administration of the company.

An entrepreneur is a person with an idea, skill, and an appetite to take the risk to pursue that idea, and turn it into reality. A manager, as the name suggests, is the person who possesses the skill set and has the courage to manage the operations and functions of the organization that turns that idea into reality.

An ‘entrepreneur’ is a French origin which means ‘go between’ or ‘between-takers’. An entrepreneur is a person who creates a new enterprise by assembling inputs (i.e. land, labor and capital) for production purposes. He assumes all risk and uncertainty, to achieve profit and growth of the business venture by identifying new opportunities and combining resources forcapitalizing them. He innovates new ideas and business processes. Decides on future strategy and creating a compelling vision of the future.

Last but most importantly entrepreneur ‘look for talented people with great attitudes to join the business and help to serve your customers and build relationships with them. Without great people, it is difficult to differentiate one’s own business from the competition, so it is a high priority for any owner for he Owns the business and. …..Ownership – only an owner can do.

Managers are those talented people who help achieve entrepreneur’s vision by taking the responsibility of controlling and administering the organization.

BUT remember-It is the entrepreneur, who has taken the time to go out and find great people to work for the business, and It is in his interest not to meddle with their jobs. Employees will either not perform to their best ability or get frustrated and leave, if they are meddled with.

Trust your people to do a good job and be a coach and mentor rather than a micro-manager. Mistakes will provide better learning and strengthen the organization from the Core.

I’M THE MAKER and THE CENTRE OF GRAVITY OF MY ORGAIZATION is just ego. Leave it to one side. FOCUS on the strategic ownership issues and hire people with great attitudes and complementary skills to your own, to scale up the business performance.

YOU ARE IMPORTANT so just focus on your strengths and have fun doing what you are passionate about, while surrounding yourself with people who have complementary skills to your own, then sit back and be amazed on better performance of your business.