Are you ready to think like a CEO?


Are you ready to think like a CEO?

None of us is born with an entrepreneurial playbook in our heads. We learn what to do as we go along. As businesses grow, the person at the top has to step out of the day-to-day and take responsibility for the bigger picture.

You may have started your business on your own, doing everything by yourself, just like I did. But if you want your business to expand, that has to change. The higher up in an organization you go, the more thinking, planning, and strategizing you need to do. Taking on the mantle of the CEO means that you can no longer oversee all aspects of the business, which can be a challenge.

After all, you've invested a great deal in the development of your business, and it can be hard to let go of control. But to scale and grow, you need to seek the help of others.

When your business starts taking off, you're ready to scale up. At this point, you must stop thinking of yourself as a solo entrepreneur and start thinking of yourself as the CEO of your company.

I feel like it's time to finally write about this because I know many business owners are at a point where they should expand. Still, because of the unknown, fear, or whatnot about hiring, they have been putting this idea on the back burner, which results in holding back their company from the success it has the potential to be.

If you remain in the mindset of a one-person operation, then you won't be able to grow because you'll just never have the time, energy, or expertise to do everything by yourself...

The day I become a CEO

I used to hire people from Upwork and Fiverr to outsource some of my tasks, it worked for a while, but as I became more focused on my business vision and brand, I started to feel like those marketplace platforms probably aren't really for me after all and here's why.

I felt the candidates on these marketplaces were too busy with their own stuff...

Perhaps they weren't necessarily looking to take on more gigs, especially.

Those that did a good job for me the first time often times were no longer there when I approached them the second time.

They didn't give me the vibe that they're passionate about their work. Perhaps, they're interested in using this marketplace experience as a stepping-stone to something better, and there's nothing wrong with that however,

my goal was to find someone who wants more of the same thing I do - to build a brand and an  online empire together as a team.

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One day I just started interviewing people. I had no idea how to hire or what to say, but I knew I was determined to talk to people until I found the right person.

I talked to numerous people online, it was a process and tiring, but I kept at it. Boy, was I right all along. From this experience, I learned that there're actually tons of virtual assistants out there who have no interest in wanting to be part of any team. Instead, they just want to know how much you'll pay them, how many hours you'll give them, and if it fits their own schedule.

Fast forward a few weeks later, I found two amazing and talented members eager to join my team. I let them know an agreed-upon vision, goal, and future plan, and then the rest is history.

Now I manage my team in slack, assigning tasks and keeping track of our process. As a result, everything runs smoothly, and I'm in a better and happier place with myself and my business, both personally and professionally.

From this experience, I also learned a lot. First, I knew owning and operating an online business was similar to owning a regular one. When you hire, you will need to establish a set of responsibilities for your team member. Be professional and upfront with your team before they begin working. After all, you are running a real business and not just a hobby online.

Develop a CEO mindset

I won't pretend I know everything, but I think I know a thing or two by now that a successful CEO needs both a certain mindset and skill set and I'd like to share those with you.

Let's start with the key areas where you need to demonstrate skill. These include the following five which you, as CEO, must be able to do:

  1. Measure and analyze everything that your business does to monitor progress and identify ways to improve.
  2. Focus on your ultimate goals and develop strategies that will lead to their achievement.
  3. Remain flexible so that you can change course when needed to suit customer demands and market changes.
  4. Stay open to innovation and improved ways of doing business in order to keep existing customers and gain new business.
  5. Motivate those who work with you to contribute their best and show them respect and consideration. If you don’t have a team yet, then this includes strategic alliance partners, networking colleagues, suppliers, and so on.

There may be other elements you’d want to add to this list, but even these five skills make being a CEO a tough assignment. Look at that list again with your solo-entrepreneur hat on. You’ll realize that you’ve already been doing these things to some extent to get your business to this point. You may struggle with certain skills on this list, but keep in mind that these skills can all be developed over time with the right approach and mindset.

Reflect on the five areas and honestly appraise your current level of competence in each. In this way, you can identify the areas you’ll need to focus on as you develop your CEO thinking.

For example, you may consider that you’re flexible and willing to make changes to suit your market but that you’re not as good at finding ways to innovate around what you already provide.

Me at the John Maxwell Leadership Event in Florida

Your mindset

In addition to skills, you need the self-confidence of a leader to be able to succeed at the head of your business. This doesn’t mean that you have all the answers, or you think you always know best. It’s a confident person who can say, “I don’t know, but I’ll find out.” The key is having the confidence to set the direction of your business for yourself, without needing to be told what to do.

Here are the important aspects of the CEO mindset

  • Ability to set the direction for the business and make long-term decisions
  • Respectful and considerate of other people
  • Open to new ideas
  • Ability to listen to others and ask for feedback
  • Ability to step out of the day-to-day and see the big picture
  • Focused and motivated on your goals
  • Ability to inspire others with your vision
  • Positive even in the face of challenges
  • Problem solver when things go wrong
  • Taking full responsibility and not apportioning blame

So there you have it! 

How many times have you heard a business owner or manager say that they spend their workday always sweating at putting out fires? I hear it all the time.

Think of a raging forest fire. There are sweaty firefighters working hard, just yards in front of the flames. There is one person in a helicopter 10,000 feet above the flames. Those on the ground and the one in the helicopter are all looking at the same fire but they have totally different views. Those on the ground are putting out fires. The one in the helicopter is directing the fire fighting effort.

In business, even the smallest of businesses, the CEO directs the fire fighting effort. That person must have a vision of the future and direct the troops on the ground in the proper direction. If the CEO gets down on the ground and picks up an axe to put out the current fire, while that effort may be beneficial, who is insuring the future?

Although you may think it's the business owner's role to be putting out fires, many never make the time to go up in the helicopter and see the whole fire. To do it, the CEO must discover the changing winds of the marketplace to best utilize the assets available so they are not overspent on dying embers (completed projects) when they are needed on a flare-up (hot opportunity) somewhere else. The CEO must look beyond today and prepare for tomorrow's battles whether fluctuations in the cost of fuel, changing whims of fashion, or increased competition.

If only for a little while every week, get into that helicopter. Look towards the future, plan for it, and guide your troops to contain the fires. You might not get so sweaty but you'll be doing a great job for your company.

Now I'm all fired up, I made a CEO Mindset Checklist for you. Download it to see and answer the following questions honestly to check out your current mindset!

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