How to Know When You Need a CEO

ayshakhatunasha

At a certain stage of the company's development, the managing owner of the business faces the question of the need to hire an executive director. This is a difficult and risky decision. It is difficult for an owner who personally manages his company to hand over management to someone else. There is a fear that the hired manager will not cope and will lead the business to collapse. Reality shows that the absence of an executive director is more dangerous than managing a business on virtual phone number service a static principle due to lack of time.

There are two ways to reduce the risk: to raise an executive director within the company or to contact a professional recruiting agency to select a TOP manager . This guarantees that the new manager will be a reliable, decent person and a qualified manager.


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In this article, we will look at when an owner needs to hire an executive director.

The owner does not want to deal with routine tasks
A business owner is a person who has created an idea for a product or service. He has such qualities as unconventional, creative thinking, determination, willpower, aspiration for development and novelty. These qualities are necessary for the emergence of an idea, for the creation of a business. However, for business management, for solving administrative issues, for daily personnel management, other qualities are needed.

The owner's attention should be directed to business development, new ideas, and the company's external environment. The executive director should direct his attention inside the company, to the organization of labor, personnel, finances, and business stability.

Experienced employees are leaving the company
An owner driven by an idea is able to assemble a team, infect them with his idea, motivate them and set ambitious goals. However, ambitious goals require quick results and working to the point of exhaustion. In such a mode, employees burn out and may leave the company.




At the start of a business, there is enough common idea and enthusiasm. As the company develops, a different motivation is needed. The number of personnel increases, people join the team not only for the idea.

The owner, overloaded with operational work, simply does not have enough time to work with the team he has created.

In these situations, a truly competent manager is important, one who is able to monitor the daily situation with personnel and respond promptly to any changes.

The financial situation has become unpredictable
Finances require a thorough and attentive approach. Management reporting, financial analysis, budgeting and planning are necessary. The managing owner cannot always competently build processes related to finances. Mistakes in finances lead to significant losses.


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You are emotionally burned out.
The owner of the company must maintain his own level of self-motivation. The business will quickly fade away if the owner stops generating new ideas. Immersion in daily administrative tasks, running in a wheel, putting out fires - a direct path to a lack of time for project development and thus to a loss of self-motivation.

You are not achieving your goals
A company aimed at profit must be in motion, constantly growing and developing. In addition, you must run faster than your competitors. In order to move forward, the owner must set goals, develop development plans, and they must be effectively implemented. When there are no plans or they are not implemented, you need a manager who will take on this task.

It happens that one person can combine the qualities and skills necessary to perform operational tasks and at the same time create and develop new projects, but if you are focused on growth and profit, it will be much more effective to divide these two vectors of tasks between two managers.