CEO Strategy: Get Out of the Weeds and Grow Your Business, pt.1
CEOs benefit from getting out of the day to day operations and into strategy and moving the business forward through culture, vision, and consistent revenue streams.
5 points on how every CEO can “Get out of the Weeds and Grow Your Business”
1. Set the vision
Where do you want your business to be in the next few years? Be careful to set a vision and not a delusion.
2. Determine your strategy?
When you view the next 18 to 24 months, what will you have to accomplish to move your firm along its vision? Who will you hire, what markets will you enter, and what product or service lines will you offer?
3. Develop an executive leadership team?
As a progressive CEO moving a company forward, you shouldn’t be the only one steering the ship. I like developing an executive leadership team to bring strength and resources to running the company. Developing leaders that can take a holistic view of the enterprise takes time and work. I believe it is a worthwhile endeavor.
4. Make your strategy clear?
As CEO, this a great question to ask yourself. Why should you be doing other people’s jobs? Didn’t you hire them to do the work? So what is the problem here? I would start with you. Are you being clear? Do your reports have employees know what is expected of them? Are they capable? Do you hold them accountable? Are you not taking the time to assign out work? Are your people clear on what is expected of them? How clear is your strategy and vision?
A CEO should delegate just about everything. Delegation is a two-way street. It requires a clear pass off and a clear receipt. Ambiguity hurts. Take the time to make sure your reports know what is expected of them; build in clear points of check -in and review. Most importantly, you must outline your expectations for what the finished product will look like.
Read part 2 of CEO Strategy: Get Out of the Weeds and Grow Your Business
Brad Mishlove is a graduate of the USC Marshall School of Business and is a fourth generation entrepreneur. Having managed his own entities, including multi-million dollar concrete, landscape, and trucking firms, Mishlove formed Catapult Groups in 2011 to provide leadership training and business coaching to CEOs in a confidential and collaborative environment.