Archive for category Management
We hear the question frequently, and it is an important distinction that has to be discussed with your trusted adviser. If not specified beforehand, you run the risk of having a severe disconnect between your expectations and the service/results you receive.
After you have decided that your business will benefit from outside expertise, you have to determine how to get that expertise. You can hire a new employee, or you can benefit from the knowledge, skills and abilities of one of the forms of contracted professional help.
First, let’s define each of those variations. Then, we can take a look at the pros and cons of each.
Fractional Executives are valuable business assets. When using Fractional Executive services, you are acquiring the strategic expertise and tactical oversight talents of an individual who is willing to work with you on a part-time basis. This person will have the experience you need to develop your strategy, your people and your processes to help you accomplish your business goals. He will become part of your “inner circle,” and he will lead your team in his area of expertise. He will advise you. He will take on responsibility for certain deliverables. He will, also, make decisions on your behalf.
Consultants are an important part of doing business. They have developed expertise in areas of your business, and they provide you the “horsepower” in areas where you either A) don’t want to be involved; or B) don’t have the depth of knowledge/skill necessary to be involved. A good consultant will advise you and will take on responsibility for clearly defined deliverables. A consultant will not make decisions on your behalf.
Coaches are becoming a more popular part of your management team. Although they tend to have a great deal of experience in one or more of your business functions, they are deeply expert in helping you identify your strategy, your goals and your plan for achieving those goals. Coaches advise you and help you develop plans that you will accomplish yourself. They will never make decisions on your behalf.
As I watch all of these computer models tell us where Hurricane Irene is going to go, where she might go and what her impact might be, I think about all of the planning we do.
In the case of an impending storm, we plan evacuations. We plan first aid and supply kits. We plan for our pets and how to communicate with loved ones.
So, is it different in our businesses? We write business plans, sales/marketing plans, operations plans. We have contingency plans and we plan for our planning sessions.
Just like the impending hurricane, we need to understand that nobody knows what is going to hit until it does. You have to have a plan, adjust your plan, seek guidance on your plan, and make darn sure that you make the necessary course corrections while you are implementing it.
Just like when you live in a low-lying coastal area right now.
Be safe over the next couple of days. Do the right thing for you and your family and work your plan.