The Role of the CEO
Most businesses are founded by an ideas person but are grown by a systems person.
Most entrepreneurs are considered to be ideas people and often found many different businesses. They identify opportunities, take initiative (and risk); innovating in the face of uncertainty.
CEO’s define the long term vision and strategic goals; build and lead the executive team; foster the culture and oversee finance and operations ensuring KPIs are met.
I am a systems person
I have grown 2 businesses based on other peoples ah ha moments….💥
Most businesses start with an ideas person
Setting up a new business within a business
I was recruited by the Marketing Director of an international travel company who was looking at new opportunities to grow the business. He was very much an ideas person. The company specialised in round the world flights for students. He identified a gap in the market to offer budget accommodation on the first night of arrival in each destination.
He recruited me based on my hotel sales experience and people management skills. I had no idea what I had taken on as I arrived on my first day with just a desk and a chair! My role was to contract budget accommodation (think youth hostels) in all the major gateway cities in the world and then set up systems so they could be booked by the 200+ branches they had worldwide.
This was 1995 so technology was limited to airline booking systems!
It was a massive challenge and opportunity. It was very stressful, there were many sleepless nights (and not just the ones on long haul flights) but I never for one minute thought of giving up. I realised later that my boss saw something in me that I had not seen in myself - pure determination. Giving up was not an option.
I travelled all over the world contracting hotels and building relationships in Europe, Australia/New Zealand, Asia and North/South America and I built a brilliant team.
Within 5 years the business unit was turning over $10million.
Co founding a new business
I was approached by an ex-colleague from the student travel company with a business idea. Another travel business, specialising in rail travel.
He had the idea, the passion and the contacts. But a great idea isn’t enough to grow a successful business.
I had the business and leadership experience and an MBA.
As I had just completed my MBA which I studied full time and was doing consultancy work, I agreed to put together a business plan.
I looked into the market, the competitors and the business model and felt that it was an opportunity which fitted a gap in the market. We agreed to go into the business together. The only thing we hadn’t worked out was the marketing. At that time in 2003, the internet was only using banner ads which were very expensive; but we decided to take a risk.
In my business model I had put together financial forecasts including best and worst case scenarios. We exceeded our best case scenario within 6 months. It was a risk that paid off, as Google had just introduced PPC advertising which worked like a dream.
While this may have sounded great on paper there were a number of challenges. He came up with lots of ideas, but couldn’t always see how these would practically be achieved. I was good at the process and people side of the business; but this sometimes meant I was so focussed on the detail that I lost site of the big picture.
The business continued to grow, and despite many setbacks and serious cash flow problems it reached a turnover of £8 million when it was taken over by a US company.
Growing a Team
I meet lots of business owners, particularly women who have a great business idea with potential yet remain solopreneurs. Or others who start to grow a team to support them, but become overwhelmed especially when the team begins to grow. When you first grow your business, your team will be diverse so effectively managing more than 4 or 5 will become very challenging.
This is when a lot of business owners become completely overwhelmed. The decisions to be made, the problem solving, the support that the team need. Their days become longer and the stress increases.
As the founder and ideas person, managing the day to day business and team is not your strength.
With a co founder as I had, you are able to share the responsibilities with someone who shares your vision. Founders with complementary skill sets, strengths and capabilities.
So how do you grow a business when you are the founder and the ideas person and don’t have a business partner?
This is where a coach can offer valuable support.
A business coach helps entrepreneurs and business owners to become clear on their vision, strategy and business model; and then supports them with achieving their goals. They will often combine coaching, mentoring and consulting to help them build strategies for growth as well as providing accountability.
I take women on a journey I have already travelled from busy business owner to inspirational leader with the tried and tested B.U.I.L.D Framework. You will be able to take control of the future growth of your business; a business that you love that is right for you and your lifestyle.
The Result
⏺️ You will be clear on your vision for your business and have a strategy for getting there
⏺️ You will understand your numbers and use them for decision making
⏺️ You will know how to implement processes and save time
⏺️ You will build a team that is aligned to your vision & values
⏺️ You will develop a future proof plan for your business
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