6 Leadership Tips for Startup CEOs
Learning to lead is a long process that involves a great deal of trial and error. In this entry, we’ve compiled a list of top leadership tips to help you out.
Throughout history, we’ve had the greatest leaders that significantly change and influence the lives of people around them. From delivering powerful speeches to making grandiose gestures, leaders are called to play a huge role in society. In the same way, as a startup CEO, you are called to inspire the same motivation for your staff.
Running a startup business is incredibly daunting, but you don’t have to do it alone. It’s a challenging process of learning from experience and learning from others. The most successful leaders themselves were mentored and grew through a series of challenges. But with the right resources and the proper training from the right people, you can reach your goals as a startup CEO.
If you want to be a good leader, you need to be an eager learner. Gather all the leadership tips from other successful CEOs and apply those leadership techniques in your business.
But before we get ahead of ourselves, let’s first find out what your role is as a startup CEO.
Responsibilities of a Startup Leader
A startup CEO takes on various responsibilities. Unlike large corporations, a startup company requires a lot more hands-on management on its daily operations. A CEO has to set the tone, vision, and culture of the workplace. Instead of just dealing with high-level decisions, the CEO has to resolve all the problems encountered in running a new business.
Without further ado, here are the duties and responsibilities of a startup CEO:
When one thinks of Facebook, Mark Zuckerberg usually comes to mind. Or think of how the name of Steve Jobs is automatically associated with his iconic brand, Apple. You can say that a CEO, especially a high-profile one, is the face of the company. And he or she is in charge of communicating the major decisions to all parties involved.
When there are major changes made within the organization, it is the job of the CEO to communicate it to the shareholders, the government, and the general market. They are responsible for explaining the whys and hows of every significant decision.
However, this doesn’t necessarily mean a CEO has to keep a high-profile image. There are plenty of startup owners who prefer to keep their privacy and would rather work behind the scenes.
2. Performance Assessment
A CEO evaluates the company’s overall performance. He or she assesses the work of everyone involved, from the high-ranking executive such as the directors and managers down to their subordinates.
Now, this doesn’t imply micromanaging the staff. Rather, a CEO’s default course of action is to ensure that the company is still heading towards the direction it originally set out for. A startup tends to stray away from its original path when it starts to expand. A CEO’s job is to make sure everyone’s still working towards the same goal and at the same pace.
3. Expansion and Growth Opportunities
In an ever-changing and competitive market, companies always need to keep up with their competitors. A business cannot stay idle or it risks getting overshadowed by other brands. In order to adapt to the market’s needs, it has to be in constant pursuit of betterment.
A startup owner has to find opportunities to keep the company growing. Remember, investors, fuel the financial aspect of the startup while innovation keeps it competitive.
4. Internal Problems
Problems are inevitable in any establishment. It’s only a matter of how to respond to them. A CEO has to find solutions to a wide variety of problems that could come up in a volatile industry.
A CEO has to deal with disruptions in the daily operations, financial crisis, internal and external conflict, and many other road blockers. Not only does a CEO come up with a solution, but he or she also needs to make a strategy on how to implement it.
The items above are just a few of the common duties of a CEO. Depending on the nature of the startup, a CEO’s role can be more or less extensive.
Leadership Tips for Startup CEOs
Now that we know what the responsibilities of a startup leader are, we need to understand how to execute them properly.
Here are some leadership tips in management:
1. Identify Truths
In the age of information, one can easily get lost in them. And the wrong information can cause a company to spiral downwards. Whether it’s relational problems in the workplace or conflict in finances, you have to investigate the root of the problem.
As a startup CEO, you will receive tons of information from several sources, along with a sea of opposing views and opinions. Identifying and discerning the facts among them is crucial. You do not want to add to the chain of confusion by mixing in your own opinion. Instead, you have to verify facts to find the right solution for them. You don’t want to risk filling the gap of the wrong holes.
2. Find out what’s not working
Once you’ve separated the facts, you can now identify what’s holding you back. It’s important to dive deep into the problem and see why they’re there in the first place. What led up to them? And how can you prevent them from happening again in the future?
You need to ensure that your team is working on the right stuff and not wasting time on the wrong ones. You can’t risk putting on band-aid solutions. Avoid sugar coating problems and communicate them properly to the people involved.
3. Enhance what is working
Finally, just as important as identifying what’s wrong, you also need to figure out what’s going right. Celebrate the little victories of your company. This boosts morale among your team and keeps them motivated. Knowing the strengths of your business allows you to capitalize on them.
Tips for Developing Leadership Skills
Just as a startup goes through its stages of development, a startup leader also needs to develop leadership skills. Remember, you don’t have to go through it alone. There are tons of resources and people who can guide you.
Here are some tips for developing leadership skills:
1. Attend Seminars
There are plenty of management seminars that offer valuable information to aspiring leaders. These are incredibly helpful as they can keep you up to date on the latest trends in the industry and helps you leverage them. Seminars also provide a great opportunity for you to network.
2. Find a Mentor
Learn from the ones who’ve already been through it. Mentors are trustworthy figures with an extensive career, entrepreneurship, investment, or industry-specific experience. They help you tap your full potential and figure out what to do with them. Browse through a list of mentors who share the same interest as you and start connecting with them.
3. Hire experts
Lastly, when you’re not sure of certain things about business, be humble enough to ask for help from the ones who do. Learning all the technical aspects of your business can be overwhelming. Hire professionals you can trust and let them work their expertise in your business.
For example, if you want to build a software team for your startup, you can acquire the help of a software development company such as Full Scale.
Full Scale offers a wide variety of offshore software development services to help you grow your startup. We help you find and hire a team for your company. We deploy programmers, project managers, content marketing writers, graphic designers, and many more experts in the software field.
Want to learn more? Talk to us!