Find Your CEO Hat
Wednesday, December 4th, 2013How many hats do you wear in your business? I know most of us wear more than one, particularly if it is a relatively new business. We have not had time to put the necessary systems and teams in place, so we are everything from the creative head to the shipping department. While that is how most of us start out, at some point we need to look to shed some of those hats. If we want to create a successful business, it is important to take an honest look at our skills and look at where someone else could do the job, i.e., take some of the hats from you.
In the past couple of weeks I have had conversations with several clients about their plans for 2014, and some have centered around the CEO hat. When you wear the CEO hat, you need to take “yourself” out of your business. That can be hard for many of us. I think it is because what we create is so personal. We don’t want our feelings hurt if someone does not like our art, and it can stop us from getting the information we need to make decisions about our business. We have got to remember we are making business not personal decisions. Yet it is critical to put on that CEO hat if we expect to grow our business.
As you take time to look at where you are in your business in 2013 and make plans for 2014, try to take yourself personally out of the business, put on your CEO hat, and consider what the right decision is to grow your business. Look for those places where someone else can handle the tasks and allow you put your energy where it belongs: having the big vision for your business, selling your business ideas and energizing those on your team.


This week I am at a retreat with some other creative artists. We each brought our own creative work, and we are offering support or advice – business or art – as needed. For some, the time is to sew needed samples for shops or classes; for others, it is to do personal sewing or reading. I brought a mix of some reading and plan to make a quilt top. What struck me is that these are women who are doing good work and striving to get it out in the world. They are also good business women who know where their efforts pay off. My question is, do you know where the return is in your business?We are quickly approaching the end of the year, and it is a good time to take a look at how your revenue looks compared to the goals you set early in the year. Are you on track or will you have a shortfall? Are your expenses in line? Have you looked at where the money comes in and where it goes out? For example, you may think that your fabric line sells a great deal, only when you go back and look at the royalty earned compared to your total revenues, you may be surprised it was not as high as you expected. Likewise you may have an activity that happens infrequently and it brings in more than you remember. You cannot make decisions based on something you do not know, so you need to look at your books.You still have time to make a difference in how the bottom line turns out in your business for 2013, plus you will have a better start on 2014. Take time to review what is working in your business and do more of it. And, if you have questions, set up a time to chat with an accountant to see what you can do to get better control on the financial end of your business.




