Set Goals And Stick To Them
Without goals, and plans to reach them, you are like a ship that has set sail with no destination. Many people fail in business, not for lack of capital, capacity or even courage but simply because they have never organized their resources around a goal.
Work Always As The Pacesetter
Ultimately your company culture will largely reflect how you function as CEO. So, don’t be a rude jerk. Walk the walk and personally act the way you want people to think about when they think about your company. It’s easy to get this wrong. If you run around like a chicken with its head cut off, your company will too. If you forget to smile, your company will too. If you lack patience, your company will too.
Spend More Time On Your Product
Your company is only as good as its product. Put your stamp on it. Insist that it be excellent. Dig in and get your hands dirty and manage features and user benefits. Where I come from the CEO must be the Chief Product Officer. As CEO you should feel responsible for every pixel on the screen. I know that may seem like overkill but your product is the user-facing output of all your hard work and its every function should reflect your goals and objectives.
Run The Numbers
I’m talking less budget and cash flow here and more key metrics. Send a weekly email to your team summarizing all the key data that drives your business. Write this email yourself. Writing the email will force you to dig in and analyze the data. Own the data. Share the data. Make it your job to make sure that everyone in the company is focused on the numbers that really drive your business.
Ask For Feedback
Ask your employees, customers, partners, etc., for regular feedback. Make sure you have at least 1 executive on your team who can give you honest feedback about your own performance. Make sure you have at least 1 outside board member or close advisor who can give you regular input on corporate development issues.
Get Out Of The Office
It’s all too easy to manage from behind the keyboard and just live around your email inbox. Get out of the office and talk to real customers, partners, suppliers, bloggers, press, etc. Listen to what they have to say and take it to heart. Don’t just feed them the vision. Stop and listen to the reality.
Manage Cash
Cash is your lifeblood. You must know at all times how much cash you have left, how long it can last you, and what the impact of decisions you make will have on your cash position. And don’t forget to raise more money long before you need it!
Act Like An Investor.
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