3 Key Roles of a Business Owner

So you are thinking about starting your own business or maybe you already have started your own business. Business owners of all types of businesses have gone through a very similar kind of emotional rollercoaster. Many new businesses begin with an idea. An idea that an employee has who is working for someone else, doing an exceptional job. They look around and think “I know how this business operates as well as, or possibly even better, than my boss. Why am I putting all my time, effort, blood, sweat, and tears into helping my boss build their business when I could be doing this for myself?” That is often the starting point, when someone decides to move from being an employee to being their own boss. There is one critical assumption mistake that happens at this point. The soon-to-be business-owner believes that because they know how to do the job so well, they mistakenly assume they will be able to run the business just as well. There is a big difference between being the technician or the doer of the work, and understanding all the complexities of running and owning business. A business owner has three key roles they must play, and they must balance these three key roles appropriately. Finding the right balance amongst these three key roles will help you succeed.

The Entrepreneur. The entrepreneur lives in the future. They are the visionary. That is the creative part of you that came up with the idea of this business to begin with. The role of the entrepreneur is to constantly be thinking about what is next. The entrepreneur is a maximizer, a great chess player. They put a lot of energy into planning and plotting their future and how to make it happen.

The Manager. The manager lives in the past. They are the ones who are analyzing. The manager looks at how things happened. They take all the chaos and the ideas the entrepreneur comes up with and puts them into nice, neat little rows. The manager brings order to the chaos.

The Technician. The technician lives in the present. The technician is the doer. This is often where the new business owner spends the majority of their time. Why? Well, this is what they did when they were an employee. They did it really well, and now that they own their own business, they tend to think if it’s going to get done right, they need to do it themselves.

All three of these roles live within the business owner. Unfortunately, the balance is off. Most business owners spend about 10% of their time as the entrepreneur, about 20% of their time as the manager, and they spend 70% of their time as a doer, as the technician.

When a business is just starting out, there is a lot of excitement and anticipation. That is the momentum of the entrepreneur that gets the business off the ground. Then the manager puts some order in place. The manager pulls together some sense of order, at least a few processes and procedures so the business can operate at least somewhat consistently. But then, the owner tends to fall back into the role with which they are most familiar. That role is that of the technician. The business owner can only be in the role of the technician for so long. It is not sustainable. A business owner must have help in order to grow the business It is often the turning point for a business owner, when come to the realization don’t own a business, they own a job.

Just because you are really good at doing something does not guarantee success as a business owner. In order for the business owner to achieve success, you must be able to balance these three key roles of the entrepreneur, the manager, and the technician.

If you find yourself falling back into the tole of the technician too often, Retail Level Up can help. Contact us at info@retaillevelup.com to schedule a complimentary consultation.

Retail Level Up provides coaching, training, and consulting services to individuals and teams. Visit www.retaillevelup.com to learn more.

%d bloggers like this: