Hello, everyone! I have been a CEO for two years and believe me, guys, I had a lot of mistakes. I guess this is an integral part of our own development, but of course, it would be much better to avoid them and you have that opportunity by reading this article “My 5 biggest mistakes as a CEO in the first 2 years”. This time I want to share with you these 5 biggest mistakes.
1.Too much delegation and control at the early stages of work.
When I did my first steps as a CEO one of my greatest sins was too early delegation, this overall control. Every CEO at his or her first steps wants to control and delegate every single thing in order to do it in the right way in the way you see it. Without any doubt, you have to know every single detail of the work but too much delegation causes mostly trouble.
In most cases when you just begin to run your business you don’t have enough experience and have the fear that something can go wrong or somebody can fail you, especially it’s noticeable when you don’t know how to hire alone. Often founders, for the sake of the rapid growth, want to delegate as much as possible and then they have conflicts, misunderstandings, and stuff just begin to leave a company.
2. Too much waiting and giving a lot of second chances to people.
The second problem I want to show you is waiting too long, for instance for firing especially when you gave the second chance. To be precise giving a lot of second chances is also the problem, especially when your employee can’t do the job done or just don’t care about it. This is also a kind of waiting.
Yes, we all have that unpleasant feeling inside when you know for sure that somebody is failing you all the time but that’s uncomfortable for you to say that he or she is fired. Instead of it, we give a lot of chances. I don’t argue, sometimes it’s necessary to give another chance, we all people, we all commit mistakes. But in the case when you clearly see that somebody fails you all the time and what is worse on purpose – overcome yourself and stop this, because your business is on the map.
The third problem is the wrong motivation. Here I had also some mistakes as a CEO. All in all, we have two motivations I think. The first one is your idea and its development, and the second is money. To be honest in business money is the first motivation. For sure money is good, but in the case of a CEO, it can provide a really bad effect.
For an owner or a CEO, a visionary motivation is much more valuable than money, because you develop your ideas, your company and you are the first person who should not change passion for money. But the best thing as for me is to keep balance and be in the middle, just between these two motivations.
4.The lack of a proper plan of work.
The lack of proper or any plan is also a serious problem. As a CEO you have to grow and develop a proper plan of work because it’s quite important for people where they are going and what they will get in the future.
The plan of yours should display their future perspectives in a company. Also, the proper plan helps to avoid any conflicts and misunderstandings for people to see the purpose clearly. One of the main and important tasks of a CEO is to retain the best and most experienced people inside a company. Maybe you won’t believe it but proper planning helps here too.
5.The lack of emotional preparation for different situations, especially for leaving your company by employees.
To be a CEO is not an easy task. You have to be prepared for lots of situations and turns of life. One of them is when people leave your company. They may have various reasons: they have no future in a company, they do not like their job, they move to another place of living, etc.
When people leave your company you have to be prepared for that. I mean the emotional preparation because for everyone that’s hard and I think when a really good employee leaves it’s especially difficult for a CEO to take it. You should understand, a CEO has the duties and responsibilities, this is the most important person in a company, this is its core.
Yes, lots of books say that all employees should be easily replaceable, but we all know, it is so hard to keep calm when somebody is leaving. I reckon, we just have to take it for granted. You have to be prepared for different conflicts, for defending your ideas and opinions as well as when your employee will leave your company one day. In that case, do some analyzing and keep going.
Summarizing my thoughts there are my 5 biggest mistakes as a CEO in the first 2 years:
- Too much delegation and control at the early stages of work.
- Too much waiting and giving a lot of second chances to people.
- Wrong motivation.
- The lack of a proper plan of work.
- The lack of emotional preparation for different situations, especially for leaving your company by employees.
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