As an entrepreneur, you start out with an innovate idea and work blood, sweat and tears to get your startup venture off the ground. Everything is your responsibility, and you most likely wear a lot of hats within the business to ensure that you can meet your goals.
All entrepreneurs have the dream of scaling their venture into a large company and making the move from entrepreneur to CEO. Entrepreneurs work tirelessly on creating products, identifying customers, building a team and sourcing funds, but a CEO effectively manages everyone else in the business. Being CEO is an ultimate sign of success for many, and means that you can become more hands off from the day to day running of the business when you have a reliable team working beneath you.
Growing your business has to be done in the right way, however, and it’s not uncommon for entrepreneurs to fail because they haven’t had the patience or know-how on how to do so. The system below explains the 4 stages of growing your business, with key insights on how to move from one level to the next.
Example: Your people see that the company is growing and start asking for a higher salary.
Priority: Scale up.
It’s important to not get too ahead of yourself when moving from entrepreneur to CEO. Make sure you do the ground work and work through the stages – confirm your value proposition, hire the right team, put your systems in place, and then start to scale up.
Growing your business does take patience, but if you are able to successfully complete all tasks within each stage then you have a much higher chance at succeeding at the next level. And once you do reach CEO status, you can enjoy the shift in responsibilities while continuing to grow the business even more.
He is a graduate of EO’s premiere CEO program, the “Birthing of Giants”, and its continuation, “Gathering of The Titans”. He holds a BS in Industrial and Systems Engineering from ITESM (Monterrey Tech) and an MBA (cum laude) from Babson College at Wellesley, MA.
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