What a great question to ask yourself, “would you hire yourself as CEO?” Based on how you manage your time, day to day tasks and strategic work in growing your business, would you hire yourself? Most people laugh at this question because their answer is no, they would not hire themselves.
What is the job description of a CEO? Just for fun, take a few minutes and write your job description down and even create the ideal org chart to be clear which hats you are wearing and what needs to be done in addition to what you are currently doing. What are you outsourcing now and what could be outsourced if you weren’t such a control freak. I can say that I was CEO of my own startup and grew it into a multi-million dollar company. It wasn’t easy to let go of things.
A Real Eye-Opener, “Would You Hire Yourself as CEO?”
I remember when I first did this exercise in my growing technology business, it was a real eye-opener for me to see all of the CEO responsibilities that I was not performing so I could do the day to day jobs.
I am not suggesting that you “should” all over yourself, and get caught up in what you should be doing. Rather we are building clarity around where you are today as a business owner and where you need to be in order to grow and sustain your business over time. Identifying and illuminating the gap enables you to create an action plan to close that gap.
I know better than anyone that without the day-to-day focus, your business wouldn’t survive either. As you know, the challenge to you is to balance them both.
I know your first reaction is “there just isn’t enough time.” I know you feel that way, I felt that way too, and from time to time still feel that way. But what I found is that excuse is the very thing that kept me from making the time. Setting some rules and boundaries to ensure that I have time for the CEO role. This has made all the difference in growing and then later selling my business.
My greatest obstacle was getting out of my own way and getting away from excuses as to why I had to be involved in everything.
One of the greatest challenges for entrepreneurs is to play the role of their own CEO.
If there’s one thing that I’ve learned when I started my own technology business as a sole entrepreneur and build it up to a multimillion-dollar business, there’s always more to do than there is time.
Time management, in my opinion, is the number one reason why companies go out of business. The owners of the business get lost in the day to day minutia and forget to act as their own CEO to grow and sustain the company. No time is made to create and leverage off of processes, and sales tends to be a spray and pray approach rather than a strategic development of the market and target audience.
There are so many hats to wear as the business is growing and resources are tight, the one job that typically doesn’t get done is that of the CEO and the rest of the C suite. CEO, CFO, CHR.
Why is that? Because you were too busy in the other roles and don’t make the time to do what’s necessary to proactively grow and develop the business.
Ways to Consolidate the Areas of Focus
As a strategic business coach, I came up with a way to consolidate the areas of focus that every successful entrepreneur needs to balance. I group them into three categories championship psychology, winning strategies, and sustainable results. There are 10 drivers in all. When these 10 are appropriately balanced your business will thrive. These core drivers enable you to think and act more strategically. They enable you to step back from the day to day and see what is most important to the survival, growth and scalability of your company. They put you in a CEO mindset.
Here are 10 things to help you reach a championship mindset:
The level of drive and determination, grit to stay the course in reaching your goals and helping others to do the same. Communicating and living the “Why” as part of daily business.
The self-talk you engage in and its effect on you and on others around you. Stand guard of your mind, watch and listen to your words carefully.
Eating, sleeping, drinking water, exercising and taking care of your physical state, energy rejuvenation. Make sure you create transitions and create a supportive environment for others to do so.
Align what you want with what you are doing and what is important. Eliminate distractions. Create Winning Strategies
Preparing, scheduling, organizing both short and long-term. Planning reduces stress and ensures you are spending your resources in the most effective places.
Creating standards, systematizing/automating creates leverage for faster growth and scalability.
Identifying the most important actions and delegating enables you to balance the urgent and important.
Track Sustainable Results
Recognizing your successes, learning lessons and applying them will create the traction you and your team need to keep going even when times are tough.
Take the time to track success drivers and adapt accordingly. Tracking is key to understanding what initiatives create the greatest results. Measuring the right things will make your decision making more efficient and effective.
Identify and resolving obstacles before they arise is the ideal to remain ahead of your competition, staying profitable and creating innovation.
Take a month and shift your focus and then ask yourself again, would you hire yourself as CEO?
About the Author:
Download the first chapter of my bestselling book the productivity zone and get an overview of the framework.
Penny Zenker is a strategic business coach and trainer, boosting productivity for business leaders and entrepreneurs. She leverages her personal experiences of building up and later selling a multi-million dollar business, as a senior executive at one of the worlds largest market research companies and working with business leaders all over the world as a Tony Robbins Business Coach. Check out Penny’s Blog Site http://www.tugofwarwithtime.com and her best selling book “The Productivity Zone: Stop the Tug of War with Time” that goes into more details about the 10 Productivity Drivers or her online assessment.