How to Transition from Small Business Owner to CEO

How to Transition from Small Business Owner to CEO

  • All entrepreneurs get lost in the details of the business, but that approach is not scalable.
  • Having a CEO performing CEO duties is crucial to the health of the company.
  • By focusing on the big picture, entrepreneurs can more effectively identify what they want to accomplish and how to go about it.

All entrepreneurs have probably heard the well-worn advice “Work on your business, not in it.” It sounds like just another corporate cliché, but it’s a necessary caution because any entrepreneur is in danger of getting sucked into nitty-gritty employee work instead of assuming the big-picture CEO role. Take it from me. 

There was a time when my inbox overflowed with questions and a steady stream of people visited my office looking for help. I had trained my people to come to me when they had problems because I feared what would happen if I wasn’t involved in every detail of the business.

For entrepreneurs, it’s easy to get stuck trying to fill every role at once: The company may need its founder to manage day-to-day tasks in the early phases of its development, but there comes a point when that founder needs to be more of a captain and less of a sailor. Studies increasingly show that companies where founders assume and continue to play the CEO role perform more innovatively and profitably over time.

Their transition into full-time leadership requires trusting the employees they’ve hired to execute defined duties that contribute to the long-term health of the company. These are people with skills and expertise who know the expectations of their roles and how to go about getting their jobs done.

When a leader instead operates by simply giving his or her team all the answers – what I call leadership through expertise – it’s often about

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Why Your C-Suite Should be Accessible to All Employees

Why Your C-Suite Should be Accessible to All Employees

Making executives accessible and working directly with employees gives businesses the legs to launch a brand into unmatched success. At RNR Tire Express, we’ve built our company culture on empathy, openness and accessibility to fuel the brand’s success.

Over the last few decades, employees’ outlook and priorities have shifted causing a change in the way that companies operate on the day-to-day. As millennials and gen Z take over the workforce, they are bringing new perspectives into the business world. They are likely to value culture and lifestyle more than other generations that have come before them.

Today’s employees expect a productive, engaging, enjoyable work experience that fits into their lifestyles and matches their personalities. Now more than ever, employees are demanding more than just benefits and perks – they want to be part of a community that makes a difference and they want to work for a company they can stand behind.

Many know that employee engagement is key to reducing turnover and ultimately boosting profitability. However, research shows that still less than 30% of employees are engaged at work. To better retain quality talent, leaders should strive to find ways to make their employees feel valued, while at the same time showing them how they are making an impact. To start, employers should make their teams feel valued by steering clear of manager-led communication entirely. If managers are restricted to top-down, one-way communication with their employees, productivity, innovation, and retention will all drop significantly.

The relationship between a CEO and their employees should be built on mutual trust, respect and communication. Offering all of these gives a company a unique strength and a competitive edge to succeed among competitors in a tight labor market. The following guidelines have helped RNR Tire Express to create a company culture built

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How Mind Mapping Can Help Entrepreneurs

How Mind Mapping Can Help Entrepreneurs

Everyone’s attended a class where their primary responsibility was to memorize and learn facts. As long as you remembered all the facts and you could prove it – for example, during a test – you passed the class, but you may not have fully understood what you memorized. You most likely failed to retain most of the new information.

Mind mapping, however, is a better way of absorbing knowledge. You can use it for anything from creating a plan for developing a healthy habit to fleshing out a pivotal business idea. It involves building on ideas that you already know and comprehend so that you can absorb new concepts with a real understanding and better retention.

What is mind mapping?

A mind map can help you learn a large, unfamiliar body of concepts. It’s a technique that involves using both the left and right sides of your brain to absorb new ideas. The visual aid created during a mind-mapping exercise can help you to organize new information as it correlates to a new central concept. Once you establish a new central concept, you can build out your mind map with branches of related sub-concepts.

Eventually, you’ll create a hierarchy that shows the relationship between a concept that you already understand and the new one. Mind mapping works because it takes advantage of the natural cortical skills used to process and absorb new information.

Mind mapping can help with retention and learning

Mind mapping enables meaningful learning, which occurs when you retain new knowledge by connecting it to existing knowledge. Mind mapping forces your brain to make the connections between what you know and what you’ve just learned. Learners make this connection by mapping discrete pieces of information around a central theme. 

Historically, the Romans used the loci visualization technique to

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Engineers Make Good CEOs – business.com

Engineers Make Good CEOs - business.com

Whether we’re discussing Henry Ford, Thomas Edison or Herbert Hoover, engineers have proven time and time again that they have the capacity to be excellent leaders and astonishingly good business managers. Nevertheless, relatively few people in the business world understand why, exactly, engineers excel when it comes to running the business and making difficult decisions regarding the future.

Why do engineers make such efficient CEOs, anyway? Here’s a breakdown of the engineering mindset, and why it’s proven to be so successful when it comes to raising profits and lowering costs.

Being detail-oriented pays off

It’s a simple matter of fact that being an engineer demands strong mental aptitude and a willingness to pay attention to minute details that others may ignore. If you’re designing a bridge, a small, barely perceptible mistake could cause the entire structure to come crashing down, costing countless millions of dollars and potentially the loss of human life itself. 

The fact that engineers are drilled from their earliest days to pay attention to the small details that escape the notice of others without a doubt, helps propel them to success when they assume a leadership position within a company. While engineers are often described as introverts, this quality by no means impedes their ability to be effective leaders who inspire brilliance in the ranks.

According to numerous analyses, engineering is the most common undergraduate degree for Fortune 500 CEOs. This fact alone should lead us to pause whenever we’re about to insinuate that a good leader demands a robust background in business. It boils down to more than “being good problem solvers” or finding themselves capable of catching the small details that were unnoticed by others. Engineers are often excellent CEOs because of the systematic way that they’re taught to approach the world and the problems

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The Best Decision Makers for Business May Surprise You

The Best Decision Makers for Business May Surprise You

Many of the decisions made in your business are going to be wrong, regardless of who makes them or how long they cogitate before they do so. Nobody gets it right all the time and we all learn from our mistakes.

That’s is because, in many organizations, it is the bosses who make all the important decisions. Other people are afraid of what will happen if, or when, they make a mistake. In a hierarchical organization, it is often risky to be seen to carry the can for something that looks like the wrong choice, and nobody wants to be in the wrong.

Hierarchical companies conform to the idea that the best decision-makers are the most senior people in the business. This is because people see that business leaders may have the most experience and the greatest depth of knowledge. In these traditionally-structured businesses too, they may be the only ones who have visibility of all the information, such as the financial data and statistics about how the company is doing and growing. They also may be the only ones who really understand the vision for where they want it to get to. Therefore, they are the ones making the decisions.

This is what many people expect, it is the way things have tended to happen in the past. Structuring the company like this probably works fine when the company is made up of three people and a dog, all sharing the same office space. It may also work well for a company that is not growing, in a marketplace where there is little prospect of disruption or rapid change. For instance, picture the Ministry of Dog Licenses in a small imaginary country with a static population and a stable government.

Out in the real world, in the era of

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