fbpx

The following video transcript is generated automatically by a computer algorithm that learns and gets better on a daily basis. Please accept our apologies if some content below doesn’t make sense:

And another tweet I saw, I think, three, four days ago now, sir. Hail Lavinia. Who is the CEO of Gum Road, which is an online platform for selling digital products. So if you’re an artist or creator of some sort, you can go in there and sell your or so your wares. I’ve used them successfully in the past for selling PDAF tests and courses and things like that. And it’s a great platform. But he put up a thing on Twitter saying a CEO’s first job is to get the company capsulised CEO.

Second job is to recruit team CEOs. Third job is to provide them with clarity so they can solve their customers problems. And a CEO’s fourth job is to get out the way until one of the above is no longer true. So I thought this was quite a good little tweet because it it quite pithily conveys the path that you go through when you start out from the very beginning. With with, like a small table, no team, and just that sort of nugget of an idea, and then it’s like it’s like Maslow’s hierarchy of needs. But for companies, right, from the CEO’s perspective, it’s kind of like you got your baseline foundational thing, which is the company needs money to be able to invest into becoming successful and profitable. That’s you know, if you don’t have that, then all the other layers that stack on top on oppositely useful. Once you’ve got that money sort of in place, then the next thing is, you know, you need the force multipliers of people. You know, you can sit there and do it all yourself, but you’re gonna be more successful way if you have, you know, a group of people, Randi, who have specialist skills and, you know, all the things that you need to sort of flesh out and build out your team, you’re gonna be fostered like that. Once you got the people, the next layer above that is is okay use to see, I need to sort drive the vision. So you may well have started out some quite deep in the weeds in the business, like doing all of the tasks associate with business, like finding the customers, doing the sales, you know, getting the product made, whatever it might be. But at a certain point you sort of like move up the hierarchy and you’re now just trying to sort of be the vision for the team and telling them, giving them the direction that they need to go in and give them some points. So far, less involved in the coalface. You have sort of higher up the ramp. And the final one is essentially you’ve done almost done yourself out of a job because it’s like, you know, you’ve you’ve created you know, you’ve got the money, you’ve got a great team. You point them in the right direction, the machines humming along really nicely. And the worst thing you can do then is start micromanaging and sort of sticking spanners into sort of, you know, the work work life of people who are far better at the individual jobs than you are. Yeah. It just struck me as a very interesting take on that. And and. It’ll be interesting to see, like no matter what stage you’re out with your business, even if your start your business. Yeah, it’s okay. How can you see your way to sort so taking yourself through those different positions and how do you think that you would like operate and cope in those different areas? Because, you know, each of them are hard in and of themselves and they have a very different skill sets as well. And you have to, you know, to be successful, you have to sort of take yourself through those different things. I mean, your company might not get to the size where you know, you’re going to be, you know. So I’ve delegated so successfully that you’re so completely out out of work and don’t have to do it. But having sort of a mental model of how you’re gonna get there and how suited you are to those different levels can be quite important. And I must have you’ve been a CEO of at least a couple of companies. What was your thought?

So I. I agree with you. It’s an interesting take on on on that process, especially on the last point on how that sets up when so so you say less intuitive. How the founder. So when you go out from being the critical member, essential to every step of the organisation’s growth to be redundant. So how do you realise about that? Because it’s unlikely someone else will tell you or you what you will learnt by force. So that, yeah, that’s broadly linked to what I also consider is the best skill or the most important skill of entrepreneurs to be self-critical and unbe all the time. Questioning. Yeah. Not exaggerating and so critically thinking are on what you should do next. What the company should do next. Getting out of the way. I think it’s a good way to put it. So I would though say that or also add that not every company needs money first. So I would I would say the team goes first. Certainly a company needs a team. Otherwise, you’re just a service provider, like a freelancer, which is great, but it’s not an investable company. So in order to grow. So, no, I will. Investing on a one man company because it’s too risky.

He has no growth potential because you can do so many things in one day. So. So Tim goes first. I think even then, maybe you will be able to grade some products. It depends if you sweat equity initially or what at some point.

Yeah, for sure. Nowadays it’s becoming more and more demanding too, to raise some money to compete with the big players or or even start-ups are well capitalised. In some sectors not. So it depends on the industry. But yeah, you will need some funding. And then it’s also I will add that he should be you should maybe you make yourself out of their daily operations so you don’t interfere with that for sure. Not micromanaging, but you should keep the team motivated. We got it because people don’t like change. They like to if they can get paid to do the least possible every day, they will try. Or or just, you know, all within less possible risk or change that we just keep doing the same. So they they will have little incentive to innovate, for example, or to anticipate risks. So you should stay on top of that, even if it’s so you can do a few things that can add a lot of value. Yeah. So or that can prevent something bad from happening. Really about. So life threatening for the company or so. So yeah. It’s not that you should get out of the way on it. Just go away and forget about it. Yeah. You should let the managers run the company but you should still be on edge on the mission.

Yeah. I think it’s like you have to be careful about what the impact of your actions are in terms of are you doing this to micromanage or are you doing this to help other people do their stuff better? You know, there’s a very there’s a sort of a fuzzy line between those two things. You’ve got to be quite self-aware to know which side of the line, because also I think a lot people, just particularly if you’re so quiet, driven person. You want to feel busy to feel like you’re making forward momentum and then you’ve got that danger zone is like you’re just being busy for busi sake. And if you are making busy work for other people just to keep yourself busy and feel like you’re being productive, then that is like net negative to the outcomes and in these kind of things. I think for earlier earlier stage CEOs and earliest stage founders, I do like my aphorism. That’s my little sort of one liners. I think there are a couple that I like to keep in mind for this kind of thing. And I’m not sure who said these. Possibly. Yeah, who knows? Tim Ferriss, they’re saying this this Winston Churchill. So Winston Churchill said you need to make sure that you are working on the business rather than working in the business.

So that is something which is very, very easy to get caught in that sort of loop of problems, come up and go solve that and you find yourself end up working at the coalface of the company. Whereas you don’t want to be working on the coalface of the company. You want to delegate that and leave that to your team. And you should be trying to work on the business itself rather than in the sort of, you know, if you’re a sausage factory, you don’t want to be on the production line filling sausages. You want to be creating and managing the factory, which creates the sausages. And the other one is, you know, you are building the machine that makes the machine. What meaning? The business itself is kind of like a product, you know, you’ve got lots of moving parts. People, Tienes processes, whatever it is, you should be working on building those things and making sure those kind of things mesh together. And then the output of that machine is whatever the output or service of your company is. So it might be a service, might be a product, whatever it might be. But your focus should be on creating that massive machine, which is your business. And it’s so easy to get cool in the everyday sort of, you know, all the service blown up run-arounds, you know, everything’s on fire about it. So, yeah, you’ve got to be very careful about that. Make sure that you’re actively sort of putting aside time to do that higher level stuff and cheque to make sure that you’re not too deep in the weeds.

Get some ice on. Sorry. Go and get some practical advice for independence in general. Also, if you are just starting.

So I would say because it could be quality. As you were saying. Yeah. Like gold burnout. But yeah. Just putting out fires. He’s not going to it’s not going to help a lot to sum up. So your main goal or ultimate goal should be sales. So if you just keep your north, then you will find your way on what’s your best contribution towards that end and goal. So that’s us simplistic. But don’t forget that sales is the most important part of the business.

And then I would say also, if you are mature or you need the guidance or you’re struggling, a go find a mentor. You can add non-executive directors or directors or just mentors to your Start-Up, to your company at any stage, actually. So that could be really helpful. And these very cost-efficient many times you do you don’t need to pay at all.

And you can bring on very experienced people that they they have gone through all of these and they are keen to help others now. And they help time because they made redundant of their business a state created or or just they want to help others. So you will be surprised if you reached those people out. Those mentors or an exec directors, they can provide you great or really valuable input. If you don’t know what’s what’s next.

Share This