Hiring a CEO For Scaling Small Businesses, Better Than Promoting the Founder?

As an Orange County California small business experiences business growth, the question that often comes up is: does the company need to hire a CEO?  Managing the company is important, so hiring the best man for the job is integral to a company’s success when you’re scaling small businesses.  The reason that many companies hire a new CEO, instead of making the founder into the CEO, is that the founder usually isn’t as good at managing and taking care of everything.However, there’s another way to get the best management and keep the passion and vision of the founder at the head. What you need to do is build a team around you that complements you. You don’t need to be the perfect CEO, you just need to acknowledge your weaknesses and strengths and build a team that will help you and make you into a better CEO yourself.Hire people with skills and experience in areas that you don’t have as much talent and experience in. If you don’t feel you have very many strengths in any aspect of a CEO then you might want to consider hiring one but remember, you have lots of room to grow.

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A Board of Directors isn’t necessary for a small business, but may become necessary as a company grows.

To be successful you have to know and criticize yourself and learn from those who have more experience than you. That doesn’t mean that you adopt the same strategies and thinking that they do, you still need to keep your creativity and passion for the company. Keeping an open mind is the important point to remember here.

H2: Assessing Yourself as a Small Business Owner and a Potential CEO

Honesty is important in your self-assessment. It’s also important that you get objective assessment from outside sources to help give you a clear understanding of your strengths and weaknesses.

Consider finding an experienced entrepreneur who has gone through CEO transitions and has an idea of what traits are necessary for a great CEO. Choose someone who will give you a brutally honest assessment rather than focus on being polite while still giving you support.

You should also build an experienced inner-circle that will also help you to determine what the company needs. Challenge your own view and hire people that will also challenge your view and make sure all members of the group add their own unique insight rather than just taking on the view of the group.

Reward your employees who give you constructive criticism and don’t necessarily reward employees who merely agree with everything you say. Creating open discussions and taking input from anywhere is important.  It’s very uncomfortable to be criticized and to spend long hours debating over the needs of the company but it’s important to push your company to new heights.

Ask yourself if you are really interested in being a CEO. Maybe you’d be a great CEO but you don’t want to spend all your time managing the company. CEOs spend tons of time with all of their responsibilities and you might want to spend your time working on other parts of the company. You might want to take a step back from your company so as to have some time to yourself. As a business grows, a CEO will have more and more responsibilities.

As a small business owner, you may not have a board within the company yet but you probably have people you can talk to about the needs and risks your company may face. Consider replacing people or building a board that can discuss every facet of the company with you or just hiring one person who can balance out opinions or who has the right perspective.

If you’re having trouble with members of your board, spending some time alone with them to discuss what they’re thinking and what’s bothering them is a great way to remove the political dynamics of a board and make your personal relationship with them better. Resolving a disagreement in your small business as quickly as possible is important so it doesn’t get out of hand.

A board should not be the one to make decisions, they should be a group who can assist the founders, or the CEO, and give them honest advice.

Have them push their point of view as far as they want, but don’t allow them to make any of the decisions because if they aren’t able to convince the managing staff of what is needed to ensure business growth and development, then their point of view may not be the right one.

The managing staff will be the one to actually follow out these orders, and if they are doing something they don’t agree with they won’t do it nearly as well.