As
CEO, you need to work on the business:
its purpose, direction, strategy, structure, systems, people,
goals, and accountability processes. See the whole business, not
just its parts. Have an aerial view to know where you want to
go and how you want to shape your business. Instead of shuffling
papers or doing the bookkeeping, decide how to make your company
different, better, more profitable and more systems-oriented.
Think and act like a business architect. Again, your goal is to
design and shape a business that serves you and works independently
from you -- a business that is systems-dependent and not owner-dependent.
You want a business that runs nearly on autopilot and spits out
cash.
As
a leader, you need to be more strategic, long-term focused; and
less fixated on the tactical/technical, day-to-day. If you don't
focus on the entire business, no one else will. It will just drift
or run aground. So how do you stop thinking and acting like an
employee or technician? Here are eight steps to consider seriously:
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1
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First,
change the metaphor in your head for what it means to be an
owner. Regardless of your industry or the size of your business,
start viewing yourself as a CEO, not an employee. Instead
of seeing yourself as a role player, see yourself as a head
coach. The effective owners I know prefer to view themselves
as a director, conductor, facilitator, or captain. Either
way, choose a metaphor for what it means to be a leader. |
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2
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To
help with this mindset transformation, start referring to
yourself as CEO. Put it on your business card, stationery,
etc. Using the term CEO will force you to see your company
as an entity above and beyond yourself, as a separate and
valuable asset that needs to be professionally managed and
optimized. You are not the business and the business is not
you. Spend time and energy helping to build, improve and optimize
this asset. For example, focus on how to grow sales, expand
your competitive advantage, and increase your value to customers. |
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3
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Consider
that as CEO, you get paid at least the equivalent of $200
an hour to professionally manage this separate entity and
valuable asset - your business. Ask yourself before you touch
any task, "Would a CEO do this?" Or ask, "Is
this task worth me doing at a cost of $200 an hour?"
Don't spend a dollar's worth of time on a dime decision or
task. Elevate your vision, thinking and tasks. |
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4
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If
you truly buy into your role as a CEO, you should be willing
to give up the urgent, less important, low-value tasks you
routinely handle. Realize that 80% of your results come from
20% of your talents and activities. Delegate the 80% of your
activities that only produce 20% of your results. Stop doing
the wrong kind of work. CEOs should think, lead and delegate
-- not handle trivial matters. Your job as CEO is to design,
re-design, and grow the business; your managers' main job
is to improve the business; and your employees' various jobs
are to operate the business. |
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5
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Schedule
time to think and plan. You must think deeply about important,
strategic matters. Make time to get away from the day-to-day
distractions and focus on deep thinking, planning, and decision-making.
Isolate yourself to concentrate on big-picture issues. Spend
time alone digesting all the information you are bombarded
with and develop the big ideas to take your business to the
next level of performance. Once a month, schedule a day away
from the office to think and plan. With no distractions whatsoever,
put on your CEO hat and spend time reviewing and improving
your chief asset - your business. |
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6
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On
a daily basis, reserve the vast bulk of the day to tackle
only your top 3 priorities. Selfishly guard your time and
focus. Don't allow your employees to disrupt your CEO-oriented
priorities and actions with countless got-a-minute interruptions.
Allowing such conduct creates an environment whereby your
time is not valued and respected. It also creates unproductive
days, a reactive business mindset and employees that are overly
dependent upon you for everything. Stop these got-a-minute
interruptions. |
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7
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Think
about CEO role models at large companies you admire. Those
proven CEOs with solid integrity and ethics. For example,
think of the former CEO at GE, Jack Welch. Read his books
and understand his philosophies, mindset, and strategies.
Then periodically stop yourself and ask, "What would
a Jack Welch do in this case?" |
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8
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Whatever
your technical expertise, consider hiring someone else to
handle such technical and tactical work so that you can escape
the stranglehold. For example, if your background is selling
or accounting, hire a competent sales manager or accounting
manager to manage such day-to-day details. If you already
have such employees on your payroll, then for goodness sakes
let them do their jobs. Get out of their zone of responsibility. |
Quit
trying to manage details and start managing your people. Guide
their focus and priorities, but let them do the work.
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Tim
Shepelak, owner of The Growth Coach, provides coaching services
to small-to-mid-sized business owners, entrepreneurs, and
executives of all sizes and types, whose industries range
from manufacturing to distribution, service, retail, professional
service firms, etc. He utilizes a unique and proprietary strategic-focusing
and business-management process to help clients unlock and
implement more effective strategies to grow the value of their
businesses and lives. Tim can be contacted at 513-405-2421,
e-mail
T.Shepelak@TheGrowthCoach.com
www.thegrowthcoach.com |
EDOCService,
Inc.
www.edocservice.com
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Marketing for Qualified Leads
"All
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