Business Owner's Manifesto: Must Do's

A GOOD INVESTMENT - I am the Leader of this business and am
responsible to see that the business is treated and
evaluated on the same basis as any business investment I
might make, both in terms of time and money invested. I
may have paid managers and staff to perform some or even
all of the day-to-day tasks, but ensuring an adequate
return on investment (blood, sweat and money) is my
responsibility and my responsibility alone.

ACHIEVING SECURITY/ROI - I recognize that there are two
components of an adequate return: First, time invested must
be compensated through salary, benefits and perks; AND,
money invested must be guaranteed a fair rate of return
plus a premium for the level of risk assumed (by operating
a small business - usually 3-5% over prime). Adequate
returns do not just happen; they are achieved through
planning and action. This commitment involves setting
realistic, quantifiable goals; taking the steps necessary
to see to it that those goals are achieved; that results
are measured and meet expectations; that we celebrate our
victories; and, that we adapt, as needed, along the way.

IT'S A BUSINESS - I am responsible to ensure that the
business I have invested in has a real business and
community purpose. This means: I must be realistic about
not throwing good money after bad; about separating real
business activity from my own ego gratification; and about
assuring at least a baseline of security for myself and
those who depend on this business by taking prudent risks.

I am responsible to the people who work in my business.
This involves: establishing organizational goals; providing
direction about their responsibilities in meeting these
goals; setting standards of performance; and providing job
performance feedback. This organized approach frees
employees to perform effectively because it assures them
that their positions are not held capriciously at my whim
and that their paychecks are not constantly in jeopardy.
This approach also facilitates identifying organizational
successes and potential roadblocks. In a world of rapid
change, just a little perceived security goes a long way.

Finally, I am responsible to myself, my family and my other
stakeholders to engage in an active program of succession
planning. Timely, thorough succession planning can
facilitate a smooth transition when the day comes that I
determine that: the business is no longer viable; I have
personally had enough of it; or, it has just become time
for me to step aside.

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John Reddish works with and speaks to leaders who want to
master growth, transition and succession, helping them to
get results faster, less painfully and in ways that work
for them. Author, speaker, consultant and mentor, John is a
member of NSA. For booking and product information:
http://www.getresults.com . Call 800.726.7985,
internationally 01.610.388.9335, or at johnr@getresults.com.