Unlocking Your CEO Potential: 3 Things That Take You from Business Owner to CEO
I was just wrapping up my workday as I’m starting to feel a little under the weather today at the time of this recording, and I was going to throw in the towel on the day and wrap things up until I had the zing of inspiration that I felt like I had to come down here to the barn studio and record this specific episode, because there is so much confusion in the entrepreneurial circles about the phrase CEO. I see this get thrown around on social media #ceolife and I want to clarify what is actually required to be a true CEO of your business.
People use CEO interchangeably with being a business owner, but it’s not the same thing. I know plenty of people who own businesses or they’re entrepreneurs and they are by no stretch of the imagination doing what an actual CEO does. So because this gets tossed around a lot today I wanted to break down what the top three things you should be doing as an entrepreneur who truly wants to own that CEO role in your business.
Unlocking Your CEO Potential
There’s a common misconception that being a CEO is the same as being a business owner or entrepreneur. However, I believe that many people who claim to be CEOs are not actually fulfilling the responsibilities of a true CEO. Being a CEO involves more than just following strategies and achieving growth. It requires embodying the role of a leader and making high leverage moves that propel the business forward.
From Business Owner to CEO: 3 Things to Achieve Your Leadership Potential
In the episode, I outlined three key aspects of being a CEO: vision casting, relationship building, and making high leverage moves. These are not just buzzwords, but critical elements that can make or break your success as a CEO.
1 . Vision Casting
Casting a clear vision as a CEO is crucial. It helps your team understand the purpose behind their work and their role in the mission. I shared my experience of hiring a virtual assistant and how many entrepreneurs treat them as taskmasters, leading to high turnover. However, when the team understands the broader purpose and feels appreciated, they are more likely to be engaged and committed.
2. Relationship Building
As a CEO, it’s not just about you anymore. It’s about galvanizing the team and creating momentum around the movement your business is building. This requires building authentic and meaningful relationships within and outside the organization. These relationships can lead to loyalty, trust, and opportunities that can drive exponential growth.
3. High-Leverage Moves
High-leverage moves involve identifying and prioritizing tasks and actions that bring the most significant impact to your business. By focusing on these, you can avoid getting bogged down in low-value tasks that drain your resources. This shift from reactivity to proactivity allows you to take control of your business direction and align your daily actions with your long-term vision and goals.
Common Mistakes and How to Avoid Them
During the episode, I also highlighted common mistakes that entrepreneurs make, which prevent them from fully embracing the CEO role. These include lacking clarity in the vision, not effectively communicating it to the team, constantly reacting to urgent matters, and overcommitting to low-value tasks.
To avoid these pitfalls, it’s important to develop habits that support being a CEO, both in actions and in mindset. This includes fueling the body, breaking bad habits, embracing good habits, and creating a strong infrastructure for the business.
Introducing Your Breakthrough Year
To help you on this journey, I introduced “Your Breakthrough Year,” a resource that provides templates, tools, and courses to help leaders develop and evolve their vision. I encourage you to take advantage of this resource and implement these principles in your businesses to experience positive growth and breakthroughs.
Get on the waitlist for Your Breakthrough Year!
Try this for a week…
I want to emphasize that being a CEO is about taking ownership of the energy you bring to the table and rallying yourself around the vision, especially during tough times. It’s about casting vision, building relationships, and continuously innovating.
I hope that this episode has provided what you needed and encourages you to continue building your legacy. I invite you to join the Luminary Leadership community for Your Breakthrough Year and share this episode with your entrepreneurial and leader friends. I appreciate connecting with listeners on Instagram and welcome any topics, questions, or guest suggestions.
Remember, you are more than just a business owner or entrepreneur. You are a CEO, and it’s time to embrace that role fully.
Resources:
- Your Breakthrough Year: luminaryleadershipco.com/leader
- The Focused Entrepreneur: luminaryleadershipco.com/focused
- The Morning Checklist: luminaryleadershipco.com/checklist
- Reach out at [email protected]
- Connect with me on Instagram!
Related Episodes:
- Episode 173: Become more Productive for Profit
- Episode 179: Are you Playing Small?
- Episode 186: 2 Secret Marketing Strategies that You Need to Know
- Episode 188: Navigating the S-Curve as an Entrepreneur
- Episode 192: Defining Your Enough: The Path to True Success in Life and Business
- Episode 194: Playing the Long Game: How to Build a Business that Stands the Test of Time
