BusinessVistas

Business Management: Entrepreneur, Manager, Technician

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Defining the business is entrepreneurial work, doing the hands-on work is technical work, and the managerial work is the bridge between the two. Creating and maintaining a successful business requires the contributions of all three roles. For many small business owners, however, the technician in them usually dominates - to the detriment of the overall business.

To view the difference between these three business personalities, let's start by looking at the application of these personalities through the lens of three vital resources - work, time, and money.

Work

• The entrepreneur's work is strategic in nature, and involves focusing on the future and developing a vision of where s/he can take their business. This vision is specific in terms of what the company will do to serve the wants and needs of the owner.
  

• The manager's work is both strategic and tactical. The manager's focus is on the present and achieving results through others. The manager is the pragmatist, planner, and organizer who turns the vision into action.
  

• The technician is directed by the manager, and follows the guiding structure of the company's systems to get the work done. The technician's focus is on the present and performing the hands-on work of the business.

 

Time

• The entrepreneur organizes time so that each day is spent in doing strategic work - ensuring that the company is on course to meet the vision. This time is critical to the entrepreneur's future.
  

• The manager knows that time must be utilized so that the company's personnel and other resources use every precious moment to produce. Managers take the company's strategic vision and plot moment-by-moment tactical action to accomplish that vision. Time for the manager has both long and short term considerations.
  

• The technician's time is in the present moment, and concerns what can be done today. The technician strives to make as much as possible happen now. The technician knows that the more produced within the day the more money made.

 

Money

• The entrepreneur pays particular attention to the balance sheets, knowing that the real value of the business is reflected in the equity. The higher the equity value, the greater the price that can be commanded for the business in the market place. The equity value ultimately serves the entrepreneur's exit strategy - the plan to sell the business and move on.
  

• The manager's focus is on controlling costs and increasing profits. The manager conceives a tactical plan for growth through proper employment of people and assets. This requires up-to-date financial information that allows the manager to make adjustments when necessary. The manager is called to tactical action in order to meet strategic goals.
  

• The technician looks at money as earnings for work performed. Technicians are always trying to figure out how to do it better and faster in order to make more money. The technician's efforts are the source of better competitive strategies that allow for a strong, profitable position in the marketplace