Thursday, April 24, 2014

Tips to Help You Become CEO of Your Business

Acting like an employee in your own business could be costing you your dreams of success.
Unless you grew up in an entrepreneurial family, you weren't taught to think like a CEO. Our education system is geared to turning out good employees.
From an early age we learn to obey the rules and color within the lines. Social pressure tells us that the sky is always blue, never green, and original ideas are dangerous. We quickly learn that to be different is to risk censure and embarrassment.
Not exactly the skills or mindset of an entrepreneur.
"Employee Think" shows up in many ways, big and small. It's why I run into so many small business owners struggling with bloated schedules and under-nourished bank accounts.
If you wonder if you are unconsciously responding to your business like an employee here's the telltale clue. If you meet most new ideas and suggestions with the answer "Yes... but... "
"Yes, I need to use social media but... "
"Yes, I know I need to make more calls but... "
"Yes, I know a business coach could help me but... "
When you hear those kinds of answers coming out of your mouth it's time to shift to CEO Thinking. That sounds more like "Yes... and... ". That response keeps the conversation going so you can get all the information you need to make a business decision, not an emotional one.
Promote yourself. Today.
The good news is this is you don't need an MBA to learn the skills of a great CEO.
Here are 3 areas to start in:
Think long-term results, not short-term profit.
This requires a vision and a plan. "Vision" is one the first things you'll see on a list of CEO responsibilitie. The Corner Office provides direction and then puts in place systems to ensure everyone is headed there. Even if you're the only person in your business, start with vision. Knowing where you're going and what you want to build is the foundation for good decisions.
Value your time.
Time and again I see small business owners chasing pennies with dollars because they get into action before thinking strategically. You must properly value your time. When you don't, you fall into a black hole of activities that lead to overwhelm and stress, not profitability.
No business can last long on that basis. Shift your thinking from "I can't afford ____ " to "How do I find or create the resources to fund it?"
Understand what sets your business apart.
The opposite of success isn't failure. It's mediocrity. Find what you do better than anyone else and don't keep quiet about it. Make it part of your vision. Share it with your prospects, customers and champions.