A business is like a mechanical device. It needs a number of moving parts to make it work, take one away and the thing stops working. If the parts don’t work in harmony, it still functions but with much less efficiency.
Einstein once said:
“Everything should be made as simple as possible, but not simpler”
The guy really knew his stuff, though he was not talking about business directly the quote is as equally valid in the world of business as it is in science.
It get’s even better because all businesses need the same five moving parts irrespective of whether it is a startup or a large multinational. The only difference in scale being the size of each of those parts.
Innovator – Responsible for coming up with new concepts and ideas
Producer – Tasked with converting the idea into a reproducible product/service with appropriate support
Banker – In charge of cashflow, profit margin and the all important liquidity
Marketer – Responsible for ensuring the product is visible to the right customers with the appropriate sales channels
Problem Solver - Tasked with negotiating between the various parts, orchestrating the solution and making the decisions
Now you may be thinking that your business does not need all five pieces, for a very few tiny businesses this is correct but for the vast majority you really do need all five. Follow any entrepreneur and you quickly realise they succeed because of a well co-ordinated team effort.
Five key skills for ensuring the business operates like a finely honed timepiece in perfect harmony.