How to Transition from Founder to CEO Like a Boss
“Once your business starts to expand, it’s vital to break the habit of having everything in your own head. This is where you start learning how to delegate, to organize yourself, and to set visions and goals for yourself and your company.“
~ Amy Porterfield
The Three Crucial Phases of an Online Business
It seems like only yesterday when I had my brain child for YVA Solutions and decided to make the jump from employee to entrepreneur. But after the dust had settled and my business started to take off another transition was need: this time I needed to transform from founder into a full-blown CEO.
My company was at a tipping point and I could no longer guarantee its success and growth by carrying it all on my shoulders.
One of my biggest challenges through this period was learning to let go and to stop being my own support staff. I had to learn to trust the staff I had hired and realise that my way was not always the best way of doing things. I needed to delegate more and show my staff that I trusted and believed in them.
This awkward transition period can be tough on entrepreneurs. The role requires you to focus more on red tape, processes and setting the tone of the company from the bottom up. This is why I had to learn to let go and focus on working in my new zone of genius.
If you find yourself going through similar growing pains, here is what I learnt about delegating, letting go and transforming into a bonafide #GirlBoss.
You Can’t Do It All and You Shouldn’t
While you might have been able to deal with everything from hiring to bookkeeping in the beginning, it’s going to come to a stage where there is just too much to do. You’re going to have to face the cold hard fact that other people can do those tasks better than you.
This is when you need let other people bring in their expertise and energy so that your business stands the best possible chance at reaching the next level. No one is good at everything. We all have our own zones of genius and you should be focusing on yours not trying to micromanage all facets of the business.
How to Delegate Strategically: Delegating the Stuff That Doesn’t Light You Up
“Once your business starts to expand, it’s vital to break the habit of having everything in your own head. This is where you start learning how to delegate, to organize yourself, and to set visions and goals for yourself and your company.” – Amy Porterfield, The Three Crucial Phases of an Online Business
An important exercise to go through when you transition into your CEO role is to identify your key strengths and passions.
This is where you need to start practicing self-awareness to identify where your skills are needed the most and when it’s time to bring in someone else.
Are you amazing at finding investors? Do you have a knack for shaping the company’s culture? Or do you have a talent for sifting through piles of CV’s and finding the perfect candidates that will help your business grow?
Identifying your staple responsibilities will make offloading tasks easier. It will help you make the best decisions for your company’s continued growth while giving your employees a chance to shine.
What Tasks Should You Delegate to Grow Your Business?
Deciding what to delegate will be different for each CEO, but here are some core tasks you should think about delegating first:
Once your business starts taking off buying software and hiring someone to manage your accounting and taxes will be one of the biggest time and stress savers. You’ll never have to worry about forgetting to issue paychecks or making a mistake with your numbers again.
● Social Media
Although it might not seem like it at first, social media can end up eating away at a lot of your time. Hiring someone to take care of your company’s social media updates and monitoring your brand online will keep you focused on the bigger picture and out of the social media rabbit hole.
Email marketing, content creation, web design and online ads will quickly grow into monsters that will require someone’s full attention. Hiring a third party like YVA Solutions might cost you money but it will save you from making costly mistakes and give you peace of mind that an expert is in charge of such an important part of your business.
Practicing Accountability and Self-Awareness
After going through this phase, you’ll need to put your efforts into practice. But despite our best intentions, we are still human and often find ourselves slipping back into old habits.
This is when you need to lean on your staff and ask them to help keep you in check. Are you delegating one task and then micromanaging it? Or just not following through with your delegating promises? Whatever the problem, having talented and trusted employees that can help you identify where you are going wrong will keep you and your company on track.
Learning to let go, focusing on your strengths and delegating responsibility is one of the hardest parts about becoming a successful CEO. But if you don’t learn these essential skills you will be limiting the possibilities of your company.
What has been the hardest part about transitioning from a founder into a CEO for you? Let me know in the comments below.
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