Advertisements

Three Surprising Challenges of Being a CEO

What are the challenges of being a CEO? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world. Answer by Dannie Chu, Founder and CEO, MakersPlace, on Quora:

The challenges of a startup CEO changes drastically as the company evolves. I’ll share a few of the challenges I’ve faced leading a startup at its earliest stages:

Setting a clear direction while the destinations keep changing. One of the most important responsibilities as CEO is to establish and communicate a clear direction for the company and then reinforce it repeatedly. However, when you receive new data, you need to adjust quickly and make the necessary changes to the company strategy and direction. In these situations it’s easy to continue on the current direction due to fear of being perceived as wrong, or not wanting to re-align the company again. Remember, during a company’s earliest stages, finding product market fit and hitting critical milestones trumps all — it’s survival mode. You need to be able to continually set direction, communicate it, reinforce it, learn, and repeat the process over and over again. The faster you’re able to do this, the better.

 

Building a culture that balances execution and sustainability. Execution is extremely important during the early stages of a company. Whether it’s finding product market fit, closing a key partnership, staying ahead of competition, the company’s ability to execute quickly and efficiently will increase your chances of survival, which in turn will increase your chances of success. That being said, running a startup is a marathon, so you need to be sure to build a culture that’s able to work hard and execute efficiently over an extended period of time (i.e years). It’s tempting to blindly execute without a moment’s rest, since there’s always work to be done, but doing so will catch up with you. Take the time to celebrate wins, respect personal time and optimize for impact over face time. Live to fight another day!

 

Building a rockstar team that’s excited about the above while getting paid less, and filling in any gaps in the meantime. Building a rockstar team at the earliest stages of your company is hard. Top talent easily gravitates towards top companies and those companies will always be able to out pay. It’s tempting to hire fast to fill gaps, but that leads to its own set of problems (e.g. cultural and performance). Instead, understand that it takes time and a bit of luck to find great talent from a technical and cultural perspective. As CEO, you need to fill in those gaps by working extra hours until you find the right people who you can fully delegate responsibilities to.

This question originally appeared on Quora – the place to gain and share knowledge, empowering people to learn from others and better understand the world. You can follow Quora on Twitter and Facebook. More questions:

Source: Three Surprising Challenges of Being a CEO

Advertisements

ConsenSys CEO Joseph Lubin on Layoffs: ‘Sky’s Not Falling, Future Is Very Bright

1.jpg

Ethereum co-founder Joseph Lubin says the future of the crypto industry is so bright he has to wear shades, and called a bottom to the current bear market. “Peeking into 2019, if you could see the landscape through my eyes, you’d have to wear shades,” Lubin gushed in a lengthy tweetstorm . Lubin — the CEO of blockchain startup ConsenSys — recently laid off 60% of his workforce to cut costs, but insists that 2019 looks very promising. “I am calling the cryptobottom of 2018,” he tweeted. “This bottom is marked by an epic amount of fear, uncertainty, and doubt from our friends in the 4th and crypto-5th estates.” Read more….

 

 

 

Donate us if you like

 

 

The Architect Of Honeywell’s Success Spotlights A $1.5 Trillion Hidden Gem At Goldman Sachs – Antoine Gara

1.jpg

When Goldman Sachs unveiled its first earnings report under new CEO David Solomon this week, the focus predictably turned to its vaunted trading and investment banking divisions, which generated a combined $5 billion in revenues. Before becoming CEO, Solomon was Goldman’s top banker. His predecessor, Lloyd Blankfein, led Goldman’s trading unit before running the firm for a dozen years, so some wonder whether the firm’s power center will shift…….

Read more: https://www.forbes.com/sites/antoinegara/2018/10/19/the-architect-of-honeywells-success-spotlights-a-1-5-trillion-hidden-gem-at-goldman-sachs/#791dfe503d3e

 

 

 

Your kindly Donations would be so effective in order to fulfill our future research and endeavors – Thank you

 

 

 

Three Behaviors That Can Help You Mature From Boss To Leader – Chris Myers

1.jpg

One of the most embarrassing mistakes I made early on at BodeTree was believing that the title of CEO automatically made me a leader.  It didn’t. I had power, but had yet to earn my authority. Thought I fancied myself a leader, I was just a boss. It took years of mistakes, struggles, and hard realizations for that to change. You see, anyone can be a boss, but relatively few have the drive, patience.I still have a long way to go, but I have learned three behaviors that are central to the transformation from boss to leader. Like most things of value, these behaviors are easy to accept but hard to live……

Read more: https://www.forbes.com/sites/chrismyers/2018/09/28/three-behaviors-that-can-help-you-mature-from-boss-to-leader/#3742a05b4f68

 

 

Your kindly Donations would be so effective in order to fulfill our future research and endeavors – Thank you

The New Atlanta Billionaires Behind An Unlikely Tech Unicorn – Alex Konrad

1.jpg

Two years ago, Ben Chestnut found a crumpled piece of paper in the trunk of his Mercedes GL63 SUV, alongside the muddy shoes and helmets he uses while mountain biking in the hills of northern Georgia. Forgotten there for a year, the paper assessed how much a top private equity firm in New York thought his company was worth: $2 billion. The CEO of Mailchimp stashed it in his personal safe along with the business cards of some America’s deepest-pocketed financiers—for his wife to shop a sale in the event of his death, but not a minute before. “That’s my retirement plan,” Chest­nut quips……

Reda more: https://www.forbes.com/sites/alexkonrad/2018/10/08/the-new-atlanta-billionaires-behind-an-unlikely-tech-unicorn/

 

 

 

Your kindly Donations would be so effective in order to fulfill our future research and endeavors – Thank you

%d bloggers like this:
Skip to toolbar