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Owner's Job Descriptions
Could you be doing a great job working on the wrong things? So often I find that owners spend their time just trying to keep up with the day-to-day issues and miss the really big role they must play in their company. The owner's role can only be filled by one person -- and that's you. The good news is that by your mastering working on the right things, you are energizing your team to work more efficiently and effectively on the right things -- and ultimately you have to do less to achieve more.
Here's a start on your job description as Company Owner. Grab a pencil and see how you are doing and where you need to do more or do differently.
1. I am the Visionary and Culture-setter for the company. In this role I have defined who we are as a company, where we are going and how we are unique.
I have created a story of the company mission and I tell it every chance I get -- over and over so that every staff person knows it and has integrated this story/vision into how they perform their job and how they treat the client.
I model the culture of the company. This culture is an extension of my personal beliefs and philosophy. In fact, it is a big part of what makes this company unique. Thus, the staff not only hear the vision and the culture talked about, they see it modeled day-after-day.
I know that by firing up my staff with this vision and creating a workplace that models ethics, integrity and respect, I will be able to hire and retain the superstar employees I need to deliver great service to my client.
It is my job to be sure our vision and mission are written down and that we develop a written statement of the company philosophy and beliefs. We include these documents as part of each business plan and each policy manual.
2. I am the Strategic Planner for the company. I project our vision into the future, set measurable goals and targets that will enable us to achieve our 1- and 3-year business plans.
I make sure that my team and I make time near the end of every year to revise and update our written three-year plan and to write the more detailed plan that will carry us through the next year. We include a budget that sets our volume, our gross profit, our overhead and our net profit. And we include a marketing plan, budget and calendar as well as a list of company goals and departmental goals. This is our living document -- our roadmap -- that lets us plan for profit and measure our progress against the plan.
3. I am the General Manager of the company. I constantly monitor our progress against the measurable goals we set in our plan. If a course correction is needed, I energize the management team to participate in developing the battle plan that will get us back on course or to revise our goals.
I oversee the progress of each department in meeting the sub-goals that support the achievement of our overall goals. While each department does its own hiring and firing, new positions are planned and funded at the Business Plan level.
4. I am the Teambuilder. I have identified my key department leaders and I meet with them weekly. I work with this team to define each department's mission and to set their 1- and 3-year goals. By the key team's active involvement in setting and achieving the company goals, they have ownership and investment in our success.
We spend part of each team meeting in reviewing each department's progress and part is spent on working to improve our systems and procedures so that our company continuously improves.
5. I am the Financial Manager. No matter how big my company gets, I continue to perform a vital function by monitoring the following reports and taking action if I spot trends that will take us away from attaining our goals. To do this well I receive these reports and review them carefully:
Weekly Cash Flow report
Bi-weekly or Monthly job cost reports
Monthly Profit and Loss statement
Monthly Balance Sheet
Monthly P & L compared to budget statement
Monthly report on Gross Profit in Backlog of incomplete jobs or sold but unstarted jobs.
Quarterly reports on completed jobs - review of gross profit by lead carpenter, production manager, salesperson, type of job, size of job
Whew! This is a lot to do -- especially if you, like most remodeling company owners, also perform a day-to-day job selling or producing in your company. But it's the right stuff to do and has huge impact on how your company runs and succeeds. You can probably perform these high-level functions in 7 well-spent hours a week. And it is truly the way to have a world class company.
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Official Charity of 2008
Remodelers Advantage Inc.
535 Main Street, Suite 211
Laurel, MD 20707
ofc: 301-490-5620
fax: 301-498-6869
Info@RemodelersAdvantage.com