Welcome to Plan-Perform-Score! These Insight Bites focus on ideas, thoughts, and tools to alter perspective and improve performance.
Entrepreneur to CEO: The Ten Big Hurdles You Face
Making the transition from budding entrepreneur to CEO of a sizable organization is a considerable journey. Most who try, do not make it. I asked a select group of CEO's, business coaches, and other really smart people what they perceived as the major obstacles that needed to be overcome.
Interestingly many of the attributes that serve the entrepreneur well, are also helpful in the more expansive CEO role. Adjectives like passionate, inspirational, persevering, visionary, adaptive, achieving, and risk tolerant are vital in both roles. To make the successful transformation involves enhancing these as well as an increased focus in some crucial areas.
The 10 Hurdles:
DISCIPLINE:Jim Horan, the inspirational creator of the One Page Business Plan captures it well, "the next level of success requires the next level of discipline." The relative freedom and flexibility of entrepreneurship needs to evolve into an environment with more structure and accountability.
SYSTEMS:You'll need to develop the systems that reduce variability to hone the reliability of your product or service offering. Ray Kroc did precisely that at McDonalds. Reliable structure rather than managed chaos needs to be the new norm.
DELEGATION:You'll have to learn to let go. You can't micromanage yourself to prosperity. Delegate (but don't abdicate) power and responsibility to develop a solid team built on trust and mutual respect. Collaborative caring and mutual dependency are increasingly important.
TECHNOLOGY:Learn to harness evolving technology to leverage your business. You'll need real-time management data, leading performance indicators, and overall technological excellence to serve your customers well. Get the right tools in the right hands.
CULTURE:You'll need to develop a comprehensive organizational culture that captures and communicates the unique core values that drive your business. The culture should pervade the behavior and attitude of everyone in the organization. Think Disney or Apple.
LEADERSHIP SKILLS:Your skill set needs to grow and expand. Chuck Ferguson describes the crux of leadership as: "to inspire greatness in the people we live and work with each and every day." Use this as the standard to aspire to. Become the role model your organization needs.
BIASES:We all have them. You'll need to identify and overcome the ones that limit your success. Think and act differently.
TRUSTED ADVISORS:You don't need to go at it alone. Develop a robust Advisory Board and join a CEO mentoring group to expand your sources of council. Don't be afraid to seek advice.
BROADENED PERSPECTIVE:You'll need to stretch beyond your individual core competency. Avoid "functional myopia" where you view the world from a limited perspective. You'll need to appreciate the multiple facets of your evolving operation and how they function and support each other. You're now the conductor of a rich and vibrant orchestra.
FUTURE FOCUS:You'll need to expand your visionary skills. Set aside the time for creative strategic thinking, read more, and keep your pulse on industry and other trends that will impact the future direction of your company. Emulate the great Wayne Gretsky, "Some people skate to where the puck is. I skate to where the puck is going to be."
There you have them. Awareness of reality is the first big step. These are the hurdles you'll face. So train accordingly and enjoy each and every hurdle you clear.
Quote & Note
"You are already naked. There is no reason not to follow your heart. -Steve Jobs
A reminder our time on spaceship earth is limited. Listen to your heart and get busy making your special "ding" in the universe. Steve will be smiling if you do.
It's amazing how long it takes to complete something you are not working on.
Procrastination is a powerful limiting force. Like the physics Law of Inertia, a mind at rest does not accomplish much. Find your motivational button and PUSH IT to embody Nike's JUST DO IT.
Check this out: Mapping the 2010 U.S. Census
Here's an educational and fun link to the New York Times site that provides an interactive tour of the recent census. Browse population growth and decline, changes in racial and ethnic concentrations and patterns of housing development. Grab a cup of coffee or a glass of wine and enjoy.
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If you'd like to tour The One Page Planning & Performance System (TOPPPS) with built in scorecards and performance reports, please call Greg Pashke at (772) 528-3871 or e-mail: GPashke@PashkeConsulting.com