It’s a hard question to ask any CEO: Would you HIRE or FIRE yourself as the CEO?
This past week, our team was asked to fire a company’s CEO, Steve*.
(Yes. We do get called in to resolve disputes and fire employees, if necessary).
Steve’s board of directors had lost faith in his leadership and management style. The company profits were stagnant and new leads were drying up.
After asking Steve if he had any personal or family issues that were preventing his leadership (none), we asked the following questions:
- Are you learning new ways to grow and expand the company?
- Are you actively creating new partnerships and/or looking for funding opportunities?
- Are you resolving old issues that keep rising? Employee or administrative?
- Are you actively using all your assets for revenue-generating purposes?
- Are you happy in this role?
- Would you hire yourself as the CEO, again?
Interestingly enough, Steve was honest.
He believed he was doing #1-4 really well, BUT was NOT happy in his role as the CEO (#5), and because of his unhappiness, he would NOT hire himself as the CEO, again (#6).
Steve felt stressed out, and felt he couldn’t handle all of the pressures of running a mid-size company. He didn’t feel as if his contribution meant something or “moved the needle” for him to gain any satisfaction. He wanted to focus on one area but felt that he would drop the ball in the other areas.
So, what do we do with Steve, now? In the end, his Board demoted him to another position where he could focus on his skillset.
Now, as a small business, you may not have a Board of Directors (yet!) but you can have an Advisory Board that can keep you accountable for the above.
Keep asking yourself if you would hire or fire yourself.
You may not NEED to be the CEO to make a truly lasting impact on your business.
You could outsource or give that to another partner. Focus on what you do best.
I’m all about creating profitable companies by educating the leadership. But, the leadership also HAS to have a sense of purpose and motivation for the company to truly thrive.
No robots here. It starts and ends with Alpha – you.
To your success,
CEO of Biztoco