Business Law (19)
Customer Service (12)
Family Business (4)
Human Resources (27)
A small business blog featuring tips to help entrepreneurs succeed in the small business world. Topics include family business, human resources, marketing, money, networking, operations, ownership, startup, taxes and technology.
When You Should Consider Hiring a CEO
When you start a business, it’s your baby, your life’s ambition come true. You spend thousands of hours building it, nourishing it, helping it grow. But just like a child, there may come a time when you have to loosen the reigns a bit. It may be time to hire a CEO.
Here are some clues that it may be time to put your business in another person’s hands:
• If you’re more comfortable planning the next big product for your company, but not with delegating who does what to make that product happen, you may need a CEO.
• When you don’t feel like you provide the professional presentation that clients are looking for, it may be time for a CEO to handle them.
• If your company has had ample turnovers, internal problems and a lack of direction, a CEO may be able to help clean up the mess.
• If all of your time is spent on operating the business and other important growth elements such as customer service, business development, and marketing are falling by the waste-side, time to bring in some CEO management.
The purpose of a CEO is not only to manage and operate the company on your behalf, but to give you constructive criticism and advice. And you have to be able to take it, because it’s the CEO’s job to make sure the company runs smoothly, and that may mean some necessary changes you’re not ecstatic about.
Also keep in mind when looking for someone to fill the CEO position that he needs to understand and share your values and vision for the future of your business. After all, it is still your business, so the track it is on should stay relatively the same. The CEO may bring other possibilities to your attention, but you will make the ultimate decision and she will have to be someone who can accept and respect that.
Putting the management of your business in someone else=s hands is a scary thought and requires immense consideration. But with someone who is capable and on the same page as you are regarding values and goals, he/she can actually make the experience of being an entrepreneur much more enjoyable.
• Entrepreneur.com: Bringing in a CEO
Related Small Business Buzz Posts:
Leading by Example in a World of Copy Cats
Leaders as Strong Public Speakers
How to Buy Back the Business You Sold
Consider This When Hiring an Intern
What Makes Women Entrepreneurs Different from Men?