The problem most CEO-business owners face when working toward the magic million is they lose control over the efficiency of their company. When you first get started you probably did it all yourself. This worked to get you up into the six-figures, but even with a team on board, if you don’t transition into the mindset of a Million Dollar CEO, you may still be acting like an employee in many ways (all hands-in the business, not hands on-top-of the business).
Many CEO’s get stuck on the bridge between Start-Up CEO and Million Dollar CEO because they don’t understand their role has to change along with the company growth.
Think about this.
Parenting is like pet ownership. You get a new puppy (have a baby), it will unconditionally love you, admire you and want to please you. You teach it to sit, stay, lie down, when to eat, when to potty, etc. This goes on for over a decade – until one day, you wake up and your dog is now…
A CAT! (or teenager!)
What happens when you try and make a cat sit, stay, lie down, etc.? That’s right, it goes crazy and scratches the heck out of you. You must be available for the cat to come to you, sit patently, put the food out on the doorstep and let it come in when it’s ready. It will come to you when it needs you. You, as a pet owner (parent), must also go through a transformation while your child goes through his/hers. You must transition from a hovering protector to an available guide with open arms, clear boundaries and determined direction. Walking next-to your child, rather than carrying her or him, your role changes.
This is true in your transition from Start-Up CEO to Million Dollar CEO. You must step out of the protector mode of your ‘baby’ and into a leader that manages the organization’s direction through clear vision, clear targets, clear measurements and a culture where people want to come to you and join your mission. This is where you learn to manage your organization through key drivers, measurements and outcomes…rather than emotions, friendships and gut-feelings.
To learn more go to www.MillionDollarCEO.com and get a copy of the Million Dollar CEO Dashboard.