July 14, 2020 What It Really Means to be CEO in Your Business

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What It Really Means to be CEO in Your Business July 14, 2020 / , , ,

By Sabrina Philipp

Do you want to be an entrepreneur or a CEO in your business? I’m going to tell you a secret…you have to be both.

And if you want to be both, you gotta know the difference. 

Entrepreneurs start companies. CEOs scale companies. 

And if you want to be both, you’re in great company, babe. Every entrepreneur I coach wants to know what it really means to be CEO in their business.

Does this sound familiar?

You start your company on a dream, a vision, and a dime and now wonder how to take it to the next level of success and impact. 

You’re burning the candle at both ends just keeping your company going.

You’re wondering when you’ll ever find the time to actually plan for growth.

You’re so bogged down in the day-to-day that the future is an afterthought.

You ask yourself,  “Am I focused on the right things?” 

If you’re asking yourself that, I can tell you now, the answer is “no.” I tell my clients all the time: What got you here isn’t what will get you there. 

Starting your business requires the entrepreneurial fire to create, experiment and invent. 

Scaling your business requires you to manage your time down to a science and focus on what matters most and ONLY what matters most. 

It’s all about totally owning your CEO-ness. 

Remember the 80/20 rule? 80% of your results come from 20% of your efforts. Only a small portion of the activities in your business are going to create the majority of the results in your business. Your job as CEO in your business is to identify the 20% of wildly important efforts and spend your time there. Everything else you eliminate, delegate, or automate. 

“How do I know where to focus my time?”, I hear you ask.

Lean in for a listen, babe. I see exceptional CEOs spending the majority of their time in three key areas:

Setting the Vision

Your vision is an invitation to become something bigger.

The CEO sets the vision and aligns the strategy of the company to the vision by ensuring that all new products and services are on-brand, on-tone, and on-time. This means that as CEO, you are in creation mode all the time, innovating and re-imagining your business into its success. The best CEOs never wing it when it comes to vision and strategy. Instead, they are informed by a strategic process that serves as the underpinning of everything they do. Mine is the Intentional, Manageable, Profitable® framework that guides all of my strategic business planning. And it supports me as CEO to ensure my programs and offerings are aligned with my mission to empower women into entrepreneurship.

Building a Dream Team

If you want to go far, go together. 

Exceptional CEOs surround themselves with strong teams that complement each other and allow the CEO to focus on the wildly important. Exceptional CEOs hold themselves accountable for recruiting, training and retaining talent – and making their company a great place to work and grow professionally. Where I don’t have the knowledge or the skill, for example, web design, I hire freakin’ experts…who do a much better job a heck of a lot faster than I could. Where I need support with the day-to-day operations so I can focus on CEO time, I hire for attitude and train for skill. My Dream Team is a huge reason for my success. If I take care of them, they take care of me and my business.

Generating Cash Flow

Listen, babe, money talks and bullshit walks. 

The CEO’s most important work every damn day has to be that there is money in the bank. Period. You have to make some pretty big decisions hella fast on launching new offerings, securing funding for your business, shutting down programs that aren’t selling, deciding how the company’s capital should be invested….these are CEO actions that are essential to the growth of the company. I wake up every day and have a plan for how I am going to generate meaningful cash in my business.

So…Setting the vision, building a dream team and generating cash flow is what exceptional CEOs do. You can’t have a million other activities floating across your desk or mobile phone if you’re going to have the headspace for strategic thinking. You have to protect your energy from distractions and interruptions, aggravations and anxiety.

One of the main reasons I see entrepreneurs never making the shift to CEO is that they try to be the hero and do everything themselves. Is this you? “Nobody can do this as well as I can, I’ll just do it myself.”

Stop. Just Stop. 

Try this on instead:

Create a spacious schedule with boundaries so nobody can hijack your important CEO time. 

Establish systems and procedures that take non-essential tasks off your plate. 

Build a reporting system that gives you an up-to-date view of your business, anytime, anywhere…so you can keep your finger on the pulse of your business.

Remember y’all, the buck stops with the CEO. You can delegate and automate tasks, but you can’t delegate or automate responsibility. 

Final though time….drumroll….do you know who makes the best CEOs? ENTREPRENEURS.

Steve Jobs of Apple. Bob Iger of Disney. Richard Branson of Virgin. Legendary CEOs. Entrepreneurial CEOs wired for creation and innovation. Entrepreneurial CEOs who are synonymous with their companies. 

Be your company, not your title.

The key is to create the space for the magic to happen.

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Author Bio

Sabrina Philipp

Puppy mom, world traveler and online business coach. I’ve spent my entire life doing things a little bit differently than what’s expected. I bet you have too, haven’t you? You little rebel!

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ABOUT SABRINA PHILIPP

Sabrina​ ​Philipp​ ​is​ ​a highly sought after​ ​international​ ​online​ ​business​ coach and strategist who​ ​has​ ​been​ ​highlighted​ ​in​ the pages of ​Forbes, Cosmopolitan, The Independent​ ​and​ ​Business​ ​Insider.

She​ ​helps​ ​entrepreneurs​ ​build​ ​intentional,​ ​manageable,​ ​and​ ​profitable businesses​ ​so​ ​they​ ​can​ ​experience​ the ​ultimate​ ​personal​ ​and​ ​financial freedom that can only come from owning your own venture.

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THE BEST BUSINESS IS A

profitable one

WHAT’S HOLDING YOU BACK?

TAKE THIS FREE QUIZ NOW AND DISCOVER THE #1 THING THAT’S HOLDING YOU BACK FROM HITING THAT NEXT INCOME LEVEL