Still In Business but Some New Directions.

     Everyone who goes into business does so for some specific reasons.  Many want to be their own bosses and have more control over their own destinies. There is the myth also that someone who is not very well informed might buy that it is easier than working for someone else.  There is the wrong idea that CEO's just sit around an office and plan the next vacation while others do all the work.
     The truth is that running a small business involves much more work than working for someone else.  There are many things to manage and you can't just go home because the clock says your workday is over.It has been very hard going for my business especially since the economy turned.  I keep at it because at least in part I want to leave a healthy business for my kids.  A CEO who is a Christian also has a sphere of influence not often touched by any other Christians and the CEO who really lives the christian life can reach many with the gospel that have little other exposure.
     At age 59 the Lord has called me into the ministry and I am beginning work on a Master of divinity.  I spent most of the 80's overseas as a missionary and I think that is where this training will take me again.  I still have many of the same motivations for being in business but the business will now be a source of funding for my seminary education.  The flexibility of controlling my hours and having the freedom to be in Florida taking care of my mom and being able to get to Chicago to  work in the business there when needed could not happen working a regular job.  I also love the work.
     Things for me have been hard but the Lord continues to be at work in my life.  I look forward to becoming a better communicator of the gospel and seeing many com to know Him. in the next chapter of my life.

Cash is King

     No business is immune to failure but being the CEO of a small business does present some challenges not found in managing a bigger company.  The obvious difference in these two hats is that running a small business requires one to wear many hats.  

     One thing often overlooked about running a small business is that the CEO has to at least oversee the sales, marketing, Pr, etc that might be delegated to others in a larger business and at the same time not get buried in these tasks and not monitor the grease that makes everything run and that is the cash flow.  If the funds are not there to advertise there are no new customers and with the piano service business that is especially important as there is a natural attrition in the customer base.  People die, the kids grow up, etc and the piano is not played so that customer stops calling.  Most service businesses are that way.  Some businesses require raw materials and if you get behind on payments to suppliers life can become very difficult.  That is what I mean by cash is king.  

   One can also be working very hard and sending out adequate invoices but there can be excessive receivables out there and if the person doing much of the work gets bogged down on chasing customers to pay promptly the whole business can suffer.  

     It seems like my business needs to expand so that cash flow does not impact the business to the extent it has in the past.  Whether the business is big or small, however a CEO needs to be driven by the truth that as far as cash flow is concerned the buck stops here.