How I can become a good CEO
How to become a good CEO
Every small business owner has to become a CEOThis doesn't just happen by itself you have to work at becoming a good CEO. If you've done any research at all you've probably run across the phrase, "You have to work on your business not in it." This is only partially true. For the new small business owner this is often so impossible that it's even silly to consider it. You may be the business owner but you're also likely to be the only employee. But even if you have five or ten employees, you'll be better served splitting your time between working in and "on" the business.
Why is this? It's the same dynamic at work in big business. If you spend all of your time working on the business two things inevitably happen. You over manage the business, and you lose focus on the core.
If you're business just does one thing, let's say you run a web site that sells software. If you spend all of your time working "on" the business you'll quickly run out of things to do. The core of your business is buying software, marketing the product, and reselling at a higher price. When you're first getting it off the ground that's a lot of work. But once you're established and you have a staff of five or six people working for you what do you do?
The story line that's been told a thousand times is you work on getting better pricing, you work on the marketing, or you fine tune the operation. Guess what? At some point this is going to start delivering a negative return. You just end up frustrating your staff, or you make a decision out of boredom that isn't the right decision.
Why is this? It's the same dynamic at work in big business. If you spend all of your time working on the business two things inevitably happen. You over manage the business, and you lose focus on the core.
If you're business just does one thing, let's say you run a web site that sells software. If you spend all of your time working "on" the business you'll quickly run out of things to do. The core of your business is buying software, marketing the product, and reselling at a higher price. When you're first getting it off the ground that's a lot of work. But once you're established and you have a staff of five or six people working for you what do you do?
The story line that's been told a thousand times is you work on getting better pricing, you work on the marketing, or you fine tune the operation. Guess what? At some point this is going to start delivering a negative return. You just end up frustrating your staff, or you make a decision out of boredom that isn't the right decision.
No comments:
Post a Comment