If you’re like most SME owners, you may be tempted to adopt the ‘jack of all trades’ approach to running your business. The difficulty, of course, is that the second half of that phrase is, ‘master of none’. Thinking like a CEO may seem like an odd strategy if you’re not in the habit of doing so, but what a difference it can make. When you start to let go of any micromanaging habits, and place faith in the skills of those around you, you can really get down to the best parts of owning, or at least, running your business. Let’s face it, we all have our zones of genius, and realistically, we don’t often have more than one, or maybe two if we’re lucky. So, stick with me here as I present to you my argument for thinking more like a CEO and less like a small business owner…
1. The cost debate
Taking on every job in your business yourself quite often leads to hours upon hours of additional desk time, frustration, overwhelm and, eventually, burnout. And the argument almost always is the same: “I can’t afford help.” So let me put this another way… What is all this additional time at your desk costing you? What would it cost when you’ve used up every spare shred of energy and have to abandon the business you once loved so much? What is the cost of the opportunities you’re missing because you’re simply too busy to notice them, let alone chase them?!
Thinking like a CEO means delegating to the right people at the right time. Whether it’s an OBM, a bookkeeper, or even a social media manager, sharing the workload around opens you up to doing the work you started your business to do in the first place. (Or even getting a split second to simply breathe every once in a while)
2. Getting rid of the ego
I hate to say it, but realistically, someone out there might just be able to do a better job than you. Not on everything, but where it counts to the growth and success of your business. A CEO relies on the talents of an interesting cross section of employees, and never tries to take on the entire pie themselves.
Thinking like a CEO means realising your own limitations and embracing the talents of others. Absolutely, it’s scary to let go of the ‘baby’ you’ve created. But think how much it could flourish with the right input. More often than not, extra sets of eyes lead to extra opportunities for growth you might not have even been aware of before. A diverse bank of skills and experiences to choose from leads to more chances for change and development.
3. Look at the big picture
Thinking like a CEO leads to a shift in focus. You’ll move from simply generating an ever-growing to-do list to finding new and fabulous ways to build your business. As a small business CEO, you’ll be able to step out of the cycle of the day-to-day working IN your business… to finally working ON your business and getting it to live up to the glorious potential it always possessed.
Thoughts? I’d love to know what you’re doing to start thinking more like a CEO today. Why not get in touch to discuss how Complete Bookkeeping Concepts can assist you in taking the next steps in your business…