In the book The Road Less Stupid, author Keith Cunningham provides fantastic real-world advice for entrepreneurs and business owners.
I especially enjoyed Chapter 6, where he talks about the four hats you must wear in business.
Two of the four hats include:
Operator Hat: With this hat you are focused on what needs to be done (especially on what needs to be done today). “An operator is a great technician who adds value through their time and effort. Operators focus on getting it done.” They are better than anyone else in the company at doing the work.
Owner Hat: With this hat you are focused on what needs to be structured, measured, planned, and delegated. “A great owner runs the business end of the business by measuring results and then either fertilizes the activities that produced the good results or changes the activities that caused the bad ones. Owners know and use all the levers in the business cockpit - particularly the financial statements, dashboards, and metrics of the business to help them make great decisions.
The other hats include the Artist Hat and the Board (Investor) Hat.
Here is a short blog post I wrote that looks at the unique aspects of each of the roles/hats you must play/wear well to drive profitability and cash flow higher in your business.
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