There is One Thing that CEOs Usually Get Wrong

Everyone agrees that being a CEO of a startup company is challenging.

It requires a unique set of skills, resilience, and the ability to adapt to the ever-changing landscape of the business world.

While many startup CEOs excel in their leadership roles, there are certain pitfalls they commonly fall into.

And while there is ONE stumbling block that can cripple your growth, it doesn't have to happen at your company!

Nearly every CEO or President finds this critical leadership skill challenging, and it is:

Micromanaging instead of delegating.

One of start-up CEOs most common mistakes is micromanaging their teams. It is natural to want control over every aspect of your business, especially in the early stages of your company. However ---

Micromanagement stifles creativity and innovation within the team. It creates a culture of dependency, where employees feel disempowered and are less likely to take ownership of their work.

Your micromanagement not only hampers productivity but ultimately limits the company's long-term growth potential and valuation.

Miles Anthony Smith, auhor of Why Leadership Sucks? asserts, “Micromanagement is the destroyer of momentum.”

And Pearl Zhu, of Change Insight, states the fallout: “The “result” of micromanagement is perhaps tangible in the short run, but more often causes damage for the long term.”

INSTEAD: Focus on delegating tasks and empowering team members.

When you show trust in the talent you've hired and provide them with clear objectives and guidelines, you foster a sense of ownership and accountability.

This allows your team to thrive.

And -- the freedom to explore new ideas and take calculated risks guarantees increased creativity and productivity.

Effective delegation relieves you of an unnecessary burden and fosters a collaborative and empowered work environment and, ultimately, growth.

Being the President or CEO of a startup is a unique position.

Not only is it demanding, but being a startup CEO is a challenging role that requires constant learning and adaptation, and there is the never-ending pressure to "prove" oneself -- one's leadership, one's management, one's ability to adapt and change to market pressures, make hiring decisions and satisfy shareholders and the founder.

Performance pressure all by itself leads you to micromanage because you want to be able to control the results. After all, your career, self-respect and financial future could depend on success. But taking responsibility for everything will ultimately wear you down and slow your company down.

How do we shift out of micromanagement? Keep focused on enhancing your leadership skills, including delegation and decision-making.

Questions to Ask:

Is there an area you can delegate more in?

Do you feel confident in your employees to trust them with more responsibility?

What needs to be in place so you can charge more often and effectively?

Do you have realistic expectations of your team member's abilities and skills?

Are there communication strategies you need to learn to get the desired results after passing off a task?

You can take two steps immediately to avoid the costly mistake of micromanaging.

1) Do an inventory of the projects and steps you are responsible for signing off on before everyone can proceed.

• Ask yourself which ones you can step out of?
• Ask what needs to be done to accomplish stepping out? Is it a simple reassignment? Or do team members need to be trained? Or was new talent brought in?
• Begin the process of stepping back out of micromanaging.

2) Schedule a time to chat with me. After reading through this, you may have some questions, and we can start taking care of them on a quick call.

I work with CEOs to step into the effective leadership habits and strategies that can lead to 10x valuations and extraordinary company growth. I'd love to talk with you and hear what leadership at your company looks and feels like.

You can grow your leadership. You can continue to accelerate your company towards sustainable growth. Just pass some more tasks and their responsibility to someone else.

Cheers to you and your leadership -- and more delegating!

~Chris.