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Happiness and heart break for Owner-managers
by Haines Watts Tamworth on 24 January 2012
During a business start-up, owners do everything from book keeping to making the tea! As the business grows, there are more and more jobs to do and then owners need to recruit people to help. The owner then becomes the owner – manager and this can be where the challenges are. Here are some challenges you may recognise
Personal Life
The owner – managers’ personal and business relationships can get quite complicated, Suppliers and advisors become personal friends, personal finances are entangled with business finances. Employees are treated like family. It is important to separate these out to avoid misunderstandings and more stress!
Expertise
Just because you have set up your own business, doesn’t mean that you know everything about everything. You employed staff based on their experience and expertise. Trust them to be able to do the job you employed them to do. They will respect you more for it.
Time Management
Owner-managers are very good at managing their own time, but managing a business and other people is very different. They are often trying to juggle home-life, work deadlines. Learn to delegate. Make time to train others and leave them to get on with it.
Responsibility
Owner-managers own the company. The employees don’t. So while they may be hardworking and loyal, they don’t have the same view of success and failure are you having? Most employees will want to do a good job, collect their wages and go home. Don’t take it personally if they don’t volunteer to come in on a Sunday morning.
Want to know more are the challenges our clients are facing as owner managers. Read our Business Owners Survey
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