I was quizzing her on the size of her vision and testing the level of her ambition, which like most business owners is considerable, but the reality was that she could only see the road map to the first £1M and not the next £5M or £5M after that.
She’s intelligent and experienced and aware that her role as the business leader will need to change as the business continues to gather pace, but to what? That was the blank – what actually should be the role of the Scale-up CEO?
In his book Startup CEO, Matt Blumberg distills the role of the CEO into 3 key priorities:
Yet, the latest research from INSEAD, came to a startling conclusion, having reviewed the amount of time C-suite executives spend in the following 4 areas:
No surprises, that 80% of their executives spend their time Doing! A small amount of time Mobilising and virtually no time on Strategy or Architecture.
Freeing yourself to focus on the 3 key areas of Vision, Team and Liquidity – full time.
Decide now which tasks you need to give away, and every quarter as you continue to focus on growth and scale, give away 3 more, whilst avoiding the Competency Trap – i.e. filling your day up with other wrong stuff, just stuff you happen to do really well!
Do it now, and share your actions with your peers on our Facebook page!
Nicola Cook is an award winning entrepreneur and twice published international best-selling author on professional selling and personal & business growth. She is CEO of Company Shortcuts, a business devoted to improving business results by injecting skill, passion and strategy to help those entrepreneurs and sales enthusiasts achieve the sales results they desire.