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Keep Your CFO Calm, By Keeping Your CEO Busy, When Your COO is Slow

By
Real Estate Agent with Big Block Realty 858.232.8722 CA BRE# 01261476

Keep Your CFO Calm, By Keeping Your CEO Busy, When Your COO is Slow.
There's really never a slow-time in your business if you are a go-getter, only slow roles. If you wear many hats in your business like I do, you'll always be busy doing something productive that generates income. It's just a question of long-term vs. short-term results.

Your CEO role focuses on big picture strategies that often yield long term results like marketing, branding and goals.

Your COO role is often working on the short term results driven income producing activities like showing property, listing homes and writing offers and closing escrows. Let's define the three major roles in a business, arguably there are more.

CEO, COO, and CFO are all top-level executives in a company, but their roles and responsibilities are different. In a small business, you are likely all three.

CEO: Is the Rainmaker. The CEO, or Chief Executive Officer, is the highest-ranking executive in a company. The CEO is responsible for setting the company's strategy and vision, making major corporate decisions, managing overall operations, and ensuring the company's financial performance. The CEO reports to the board of directors and is often the public face of the company.

 

COO: Is the Deal Maker. The COO, or Chief Operating Officer, is responsible for the day-to-day operations of the company. The COO oversees the company's various departments, including manufacturing,
marketing, and human resources. The COO works closely with the CEO to implement the company's
strategy and ensure that all departments are
working together effectively on the same sheet of music.

CFO: Is the Money Maker. The CFO, or Chief Financial Officer, is responsible for managing the company's finances. The CFO oversees financial planning and analysis, accounting and financial reporting, and treasury operations. The CFO works closely with the CEO and the board of directors to develop and implement financial strategies that support the company's goals.

In summary, the CEO sets the overall strategy and vision for the company, the COO manages the day-to-day operations, and the CFO manages the company's finances.

Now, when the market shifts like it did predictably in 2022, you could either twiddle your COO thumbs, complain and wonder when the market will shift again, or you could get to work on your CEO responsibilities to create the change.

 


Now the 2023 market is shifting again, but slowly, so there's still time this year to be busy with networking, prospecting and marketing in order to ensure a short visit in the slow valley, between busy peaks. This will make your CFO happy, because the CEO activities will produce the results that reengage the COO and get that role back to being busy, which ultimately generates the income!

There's always productive work that can be done,  when COO client activity is light, because you and your business can always improve your training, market visibility, market value and so on through focused CEO activity.

I'd be remiss if I didn't mention here, that much of this concept I learned through my Peak Performers and Peak Producers training over the years at Buffini & Company.

 

Cover Photo: Courtesy of Buffini & Company

Photo 1 by Yan Krukau: https://www.pexels.com

Photo 2 by Eugene Lisyuk: https://www.pexels.com

Photo 3 by Antoni Shkraba: https://www.pexels.com

 

 

Posted by


Thomas J. Nelson
REALTOR®, CRS, RCS-D, CDPE, e-Pro, Certified Military Home Specialist, Luxury Home Specialist, Author, Keynote Speaker and  Podcast Host 

Serving Coastal San Diego from Carlsbad to Coronado, Downtown, Balboa Park Area,
La Jolla/UCSD & Mission Bay Park Areas
I Offer Rebates to Veterans
& Active Duty

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, medical advice or financial advice.  For legal advice see an attorney.   For tax advice, health or financial advice see a tax attorney, certified public accountant, or other qualified professional.
Trish Cole
Veterans United Home Loans of Puget Sound NMLS#1907 - Puyallup, WA

Great way to think about how to organize what we do to generate, maintain and grow our businesses!  I always refer to the question "are you working in your business, or on your business?"  Have a great day!

Apr 14, 2023 07:40 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Thomas - combining strategic efforts can fashion forward thoughts and movement into another direction.  And perhaps a feather in one's cap too.   

Apr 14, 2023 09:13 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

I love this post. I’ve been busy with family for the last two weeks and that has had the COO out of operation. The CEO needs to kick her back into gear or the CFO will be out on the street!

Apr 15, 2023 01:37 AM
Ritu Desai 703-625-4949
Samson Properties - Chantilly, VA
Northern Virginia,Washington DC & Maryland Realtor

LOVE the analogy!! I agree with the shift in the market it is a good idea to evaluate the roles and responsibilities depending on the hat you're wearing. 

Apr 15, 2023 04:10 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Love this overview of our business members, all of whom are us. And yes, we need to kick up different roles as business environment changes!

Apr 15, 2023 04:38 AM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

Such an excellent post! We do wear many hats in this business. Whew!

Apr 15, 2023 07:26 AM
Jana Holmstrup
Jana Holmstrup - CCO - Kings Mortgage Services, Inc. - Visalia, CA

You get a thumbs up (and a chuckle!) for the title alone.  Thanks!

Apr 17, 2023 06:48 PM
Erik Hiss
Keller Williams Capital Partners Realty - Worthington, OH
You can trust me for all your real estate needs!

I like being all 3 in my own business :)

Apr 19, 2023 08:45 AM
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
The Grit and Gratitude Agent

And as an independent contractor, one wears all three hats. Unfortunately, many agents are never taught this and fly by the seat of their pants. This may explain why so many never go beyond 5 years.

Apr 19, 2023 12:54 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I find all of the responses to be insightful in their own particular ways. I never stop learning here. :)  

Apr 19, 2023 01:38 PM
Paddy Deighan MBA JD PhD
http://www.medicalandspaconsulting.com - Vail, CO
Paddy Deighan J.D. Ph.D
Ohhh do i ever recall conversations with my CFO when I was the CEO of a publicly traded dermatology and plastic surgery company … find memories!!
Apr 20, 2023 12:05 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets - I absolutely love this post. Very educational too! This one was truly good information.

Thank you. 

Apr 20, 2023 05:24 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Very kind of you and I'm please you found value in it Patricia Feager, MBA, CRS, GRI,MRP 😀

Apr 20, 2023 08:59 AM
Roy Kelley
Retired - Gaithersburg, MD

This is very good advice to share. Some agents need to make some major changes.

Have a productive spring.

Apr 30, 2023 11:26 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thomas, I think I have all those hats in my company.   Looks like you haven't been blogging regularly.....

Apr 30, 2023 12:00 PM
Joan Cox

Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets that is exciting, and will be excited to hear when it comes out, do share please, when the time is right.

WOW, sorry to hear about the childish person, but have seen a couple around here.    I dabble, but don't get too involved, except with a few close friends.

May 01, 2023 02:26 PM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets

Hi Joan Cox I've been very busy at work and much of my blog time has given over to writing a screenplay right now.
I've been working with a actor/director in Hollywood since March. He's helping me convert and  polish what was meant to be a novel into a script; exciting and time consuming.
I hate to be aloof, but I can't share any of the details.


Also, a couple months ago one of the long time AR members had an unprovoked major meltdown on me, totally uncalled for and quite frankly I decided "I'm taking a break from the Rain because I can't stand these type of childish temper tantrums over nothing." ☮ 

May 01, 2023 02:20 PM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Great post Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets  ... I can't even imagine not having something to do in my office -- no matter how slow or busy I am.  There is ALWAYS something to follow up on or a call to make to someone who needs to be contacted just to say hello!

May 05, 2023 02:51 PM