Greetings Crew! Today, we're going to discuss eight powerful questions to challenge each of us to evaluate how effectively we're running our businesses! This is a powerful process that I call "The Investor vs The Manager." Let me set this up for you..
QUOTE OF THE DAY:
“A large portion of new startup businesses fail simply because their founders continue to think and act like employees, waiting for someone to tell them what to do.”
– Michael LeBoeuf
To start, imagine there is an investor who has made a significant investment in your business because he believes in the business vision and wants to be instrumental in making sure it is successful. To ensure his investment is protected, he has hired YOU to be the business manager. And with that, he has some expectations for you.
If you are the type that would prefer to watch the video training, here you go! If you'd rather read, feel free to continue reading my notes below the video.
Here's your first question..
1) You have a meeting with your investor at the end of this week to review your performance over the past 6 months. He wants to review your routine, your schedule, your habits and behaviors, what you've accomplished and what progress you have made towards your goals. Based upon your performance over the past 6 months, would you be up for promotion or termination? Whatever your answer is, try to identify specifically why. This is an important first step because the first step in progressing forward in any area of our lives is self-awareness. We have to be honest and fully aware of where we are starting before we can move forward from it.
"You cannot move forward from an undefined place" - Justin Cappon Pro
Now take the position of the investor. YOU are the one who has made the significant investment into the business, and you have hired a manager to be a good steward of it. Here's your next question.
2) What would you expect of your business manager? How disciplined should they be? How consistent? Would you expect them to be fully-present and focused? What should their routine look like? What about follow up with leads? What about marketing and content? You are the investor. Make a thorough outline of expectations that you have for your manager.
3) Remaining in the position of investor, ask yourself how you would define success as the investor? Is it based upon revenue? Is it based upon leads? Are there other metrics? How can you measure your manager's performance by progress on certain metrics? How is success measured?
4) Now taking the position of the manager, what are your goals for the business? As the manager of the business, it is your job to manage day-to-day operations, lead the marketing, establish the strategy and ultimately deliver the results. So what are your goals? The investor has made their investment. What are you going to do to ensure their investment is not wasted?
5) Now taking the position of the investor, how would you instruct your manager to achieve those goals? While it's their job to establish the strategy and deliver the results, it's your job as the investor to coach and mentor them.
6) Continuing as the investor, have you equipped your manager with everything that they need to be successful? Is there anything that they need that they do not have? Is there anything preventing them or inhibiting them from being successful?
7) Now from a global perspective, what is the investor's role in the success of the company and what is the manager's role? In every business with every position, everybody has roles and expectations. We are the investors, but we are also the managers. What are the roles and expectations for both positions?
8) Last question, will your business survive if changes aren't made
Take time to give yourself honest answers to each of these questions and in doing so you should see a dramatic shift in your focus and momentum as you move into the next season of your business!
If you are interested in registering for a FREE STRATEGY CALL (Regularly $200) with Justin Cappon Pro, visit www.JustinCapponPro.com/apply and fill out the brief application!