National Mortgage News has printed an article Why Mortgage Entrepreneurs Can Struggle After a Startup Succeeds. ” A company’s evolution from startup to established business is a complex transition that requires executives to have a wide array of leadership skills,” writes Brad Finkelstein, after an interview with Rob Sher. Click the article title, to read the article in its entirety.
There are times when a CEO should step down and replace himself. Steve Ballmer, CEO of Microsoft is doing just that. I’m a big believer in CEOs. They can do great things, and can adapt amazingly—if they have the energy and choose to change. My work is all about helping CEOs step up their game. But many CEOs, usually in tough times, wonder if they should hang it up.
Here is the fundamental choice for owners of closely held companies:
Some CEOs are too passionate—too religious about their company’s vision. They stick to it and refuse to change even when it’s apparent to many that the strategy must be adjusted. Read about structures and processes that can help introduce reality into a passionate CEO’s thinking before it’s too late.
Far from the popular demonizing of CEOs as arrogant and greedy, too many mid-market CEOs actually think too little of themselves. They do not require their executive teams, business partners and boards to treat them with respect.
Founders have different aspirations. Some founder CEOs are eager and able to develop their CEO skills enough to run a mid-market company, while others are not. Those who want to keep the job must build those skills rapidly, ahead of the needs of the business, if they hope to keep the backing of their investors.
Chaos at the top of an organization is a recipe for disaster. Learn about the three types of unpredictable leader, underlying causes for the behavior, four paths toward resolution and methods of coping if it’s your boss who’s unpredictable.
CEOs must manage energy flows carefully to protect themselves and their companies against power surges that could blow their circuits. Circuit breakers blow for a reason – there’s something wrong or they wouldn’t have blown. But instead of sitting in the dark as the circuit blows, it’s better to be standing in front of the power panel.
CEO Jodi Andrews and her co-founder and President Inger Arum of ProTrials got a great offer from a big client, enough to make any business owner happy. They turned down the opportunity. Not all that glitters is gold, and some factors that override financial success.
We are taught as children that persistence is good. Many wonderful things in life take an enormous, sustained effort. But when does walking away actually indicate wisdom, rather than a lack of fortitude? Other paths and new opportunities do exist.
Robert Sher is founding principal of CEO to CEO, a consulting firm of former chief executives that improves the leadership infrastructure of midsized companies seeking to accelerate their performance. He was chief executive of Bentley Publishing Group from 1984 to 2006 and steered the firm to become a leading player in its industry (decorative art publishing).