Does your small businesses need a CEO?

June 7th, 2019 | in Strategy
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Does your small business need a CEO?

You’re a business owner. You turned your idea into a functioning operation, and now, you’re realizing that your small  business has some major demands.

You’ve mastered the role of General Manager, and you know what it takes to open your doors. So, does your small business truly need a CEO? The answer is simple: Yes!

If you want your business to succeed and grow, year after year, there’s only one thing you can do: step into the CEO mindset.

To assume the role of the CEO, you must take a step back from the day-to-day operations to create time and space for you to focus on the big picture of your business.

Six considerations when stepping into the CEO mindset:

  1. The inside and the outside– the CEO is responsible for understanding external factors (society, the economy, technology, markets, and customers) and interpreting how the company should respond.
  2. The short-term and the long-term– the focus of the CEO is longer-term. As general manager, you focus on the immediate needs of the business; a CEO creates a longer-term vision and puts a plan in place to implement it.
  3. The narrow and the broad– the CEO is uniquely positioned to see the big picture. The general manager tends to be more focused on smaller issues. This narrow focus can cause you to miss an opportunity or overlook an impending threat to your business.
  4. What we do and what we don’t do– the CEO needs to be dispassionate. They must consider which products/services should be kept and which should be cut, without involving emotions.
  5. The ‘what’ and the ‘how’ – the CEO sets not only the direction for the company, but must create a plan outlining exactly how to achieve the desired outcome.
  6. The verbal and the written– the CEO creates clarity by communicating all of the above in multiple ways, including writing. As general manager, you might only document operational procedures, which is only one component of what needs to be shared. The CEO is responsible for making sure everyone is on the same page.

Making the necessary shifts to think and act more strategically will change your business for the best. You will gain clarity, confidence, and control. Your business will grow, enabling you to reach even more people and create a community of customers who believe in your vision.

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