Small business owners sooner or later come to a point where work/life balance is just not what it should be. The expectations of being a business owner about having flexibility, not having a boss, and finally being paid what the owner is worth somehow seem to dissipate over time. Instead business owners feel that they can’t hire and maintain competent employees and the sacrifices made for the business cause strains on personal relationships. So why does this happen and how can it be avoided?
Lack of experience is a major cause of small business woes, but we could learn more from looking at what often happens to the experienced owner. Often those who start new ventures invest a large stake of their personal finances and their emotional zeal into the company. Because of this, owner/operators are often very involved with all daily aspects of their business. Finances and the scope of the business may make it difficult for the owners to delegate work to competent management and employees that can execute. Additionally, small businesses are so focused on short-term earnings that they often miss out on the best advantage they have over big companies; time. Big companies are pressured by Wall Street on quarterly earnings often at the expense of future earnings and market share. Small companies have the advantage of moving quickly and making decisions that lead to long-term sustainable competitive advantage. However, most small business operate in a month-to-month or even daily mindset because of the personal financial and emotional investment. Owners often wish they could clone themselves or better yet have a whole board of C-level executives available to them.
To break this cycle, owners need help. A company by the name of Part-TimeCEO.com has been formed to address these issues by providing the two things that large companies have benefited from; a professional management team and access to capital. Part-TimeCEO.com helps small business owners transition from being heavily reliant upon the founder into true organizations that can operate in the owner’s absence. A lot of this work typically takes place by putting a strategic plan together, aligning incentives, and creating controls and monitoring mechanisms for execution. Part-TimeCEO.com provides an experienced management team on a fractional basis so that small business can easily meet their organizational development needs. Once the subject company is on tract, Part-TimeCEO.com may lead an investment in the company where it will be best used, to spur new growth without adding more work for the owner.
Part-TimeCEO.com helps companies in four areas: achieving passive ownership, relieving an already overburdened management, providing functional expertise, and helping obtain geographic reach. In short, Part-TimeCEO.com makes work/life balance possible for small business owners. Packages generally have a cash-flow friendly retainer element and profit participation element that align the management team’s incentives with the owners. For more information please read about our SERVICES and balance your life today.
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