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7 Ways to Transition from Business Owner to CEO

In the life of every business owner, there comes a time when it’s necessary to transition from the role of business owner (jack-of-all-trades) to CEO.

Why Make the Transition?

If you want to stop working IN your business and start achieving the lifestyle you really want, you have to make the switch. Here are a couple of reasons why:

  • Focus your attention on bigger picture items
  • Achieve greater work-life balance
  • Grow your business alongside the strengths of others

How to Get Started

1. Establish your vision.

As a CEO, your primary responsibility is to set the vision for your organization and team. You have to identify how you can create the right space and atmosphere for you to achieve your vision.

All of your actions should effectively lead to the realization of your vision.

2. Become less available.

To stop working IN your business, you need to transition the majority of day-to-day responsibilities to your team.

That means you’re no longer the one to pick up the phone or answer minute client inquiries. Your job, as CEO, is to handle bigger picture items and you can’t do that if you’re constantly taking phone calls and client meetings.

Consider also setting dedicated days or time slots into your calendar, specifically for strategizing how to be a better leader and grow your business.

3. Focus on the now.

What do you need to accomplish today; this week; this month, to get to where you want to be down the road?

Take a snapshot in time and determine how what you’re doing in the present will ultimately impact your future success.

Are you headed in the right direction? Are things adding up to achieve your vision?

4. … and the future.

At the same time, you have to set goals for the future. As CEO, execution goes hand-in-hand with vision.

It’s one thing to strategize and formulate a vision, it’s another thing entirely to implement the execution of getting it done. Don’t lose sight of the future by getting wrapped up in the day-to-day.

5. Commit to leading.

Not doing. The role of a CEO is to lead the team into action. It’s not your job to pick up the falling pieces and put everything back together again; otherwise, you’ll be doing it time and time again.

Empower your team to make decisions aligned towards the vision. If there’s a bump along the way (which there will be), ask them how they would handle it, before rushing to save the day.

6. Know when to say no.

Not all opportunities are the right opportunities. Once you’ve built your team and are operating as a CEO, you’ll have more time to look at the broader picture and will inevitably encounter new opportunities or prospects that have the potential to grow your business.

However, don’t get swept up in the idea of growth, at the expense of your vision. Stick to your guns and wait for the right opportunity to come along.

7. Share your purpose and values.

Include your team in your “why.” Get them on board with your purpose for your organization by holding quarterly meetings, trainings or other means of connecting with your team.

As often as your share your successes, share your roadblocks and identify how you, as a team can get better.

I Can Help!

You can learn more about leadership and teamwork in my book, “Seven Figure Firm: How to Build a Financial Services Business that Grows Itself.”

You can even download a FREE chapter. I recommend “Building a Team: Learn the tips and tools she uses in hiring the right staff to create leverage in your practice” to learn more about my experience in leadership.

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7 Ways to Transition from Business Owner to CEO
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Discover the steps to transitioning from business owner (jack-of-all-trades) to CEO, so you can stop working IN your business and start achieving the lifestyle you want.
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