Avoid the 3 pitfalls many CEO-Business Owners make when shooting for the Million Dollar mark

Hey CEO-Business owners! Are you past-due on transforming from a Start-Up CEO to a Million Dollar CEO?
June 18, 2017
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June 18, 2017

Avoid the 3 pitfalls many CEO-Business Owners make when shooting for the Million Dollar mark

CEO-Business owners often start-out doing it all themselves, and as they get results, they realize the necessity of bringing on a team to take them to the next level. But not just any team – a team that is extremely dedicated, craving success and surpassing expectations at every chance. That’s every CEOs dream team.

But what causes the sizzle to wear off?

As you share your big company vision with your new team, they can feel your passion and should get excited to be part of something amazing. But this is a critical time – either your team begins to crave the success of your vision or they drift off and ‘just come to work’. The difference between a team of motivated individuals and people who just ‘go to work’, can make or break your Million Dollar future.

If you avoid these 3 pitfalls, you can create an inspiring environment that attracts and retains a motivating team to help get you to the top.

1. Making it look like the company’s purpose is to fulfill your own personal wealth goals. Employees want to be part of an organization that makes a difference in the world. If the company doesn’t have a clear purpose for what contribution it wants to give to the world – then it is taking from it. And nobody likes a taker. Employees will feel used, taken advantage of, and feel like they are only there to line your pockets at their expense.

With a passionate purpose for the existence of your company fully embedded in your culture, your team can see the actual tangible impact they are contributing to and will be hyper motivated to help the company prosper so they can see that cause come to fruition. They will be glad to see you, and themselves prosper from the company success when they see the results of the social cause actually change lives.

2. Lack of personal efficiency and accountability. If you don’t set the tone of how precious time is, and how costly is it when wasted, you team will absorb time like a paper towel on a wet counter top. Without structured accountability, everything expands.

Dues dates are pushed, resources are wasted, projects are delayed, labor costs accelerate and costly decisions are postponed. Everything expands when you don’t have clear targets and systems in place to manage to the key numbers, rather than to gut-feelings and emotions. Every missed due date, late project, missed sale, added time…all cost money. A lot of money.

3. Wasteful, unproductive meetings. Have you ever been in a team meeting where people are late, cancelling at the last minute, venting about meaningless gossip or checking the phone the entire time? You may feel frustrated, disrespected, and tired of the lack of engagement.

But what causes it?

First and foremost – lack of structure is the culprit. Without clear agendas and expected outcomes, people will feel like their time is being wasted. The meetings should be a tool to remove roadblocks and clear the path toward rapid achievement of your goals

As a CEO-leader, you are responsible for the achievement of the company’s goals. It is up to you to provide a framework the effectively uses your time together to fast-track your goals. Period. You are not there to solve their personal problems or be their counselor. You are there to achieve this passionate purpose of your company and your team is there to do a specific job to move your forward. Being a nice guy, might keep you likeable, but it may never get you to becoming a Million Dollar CEO, unless you focus on building a solid structure and culture of accountability.

To learn more go to www.MillionDollarCEO.com.