Don’t worry about the failures, you only have to be right once.
– Drew Houston, CEO of Dropbox
You have to have a 110% belief in your chief reason for being.
Chief Executive Officer (CEO), Whenever you hear this word the immediate picture of them in your mind
would be expensive cars, private jets, and expensive business deals. But as it is said ‘all that glitters is not gold’. Similarly, this job is not as glamorous and easy going as it looks from the cover. As a CEO you’re the captain of your ship, every decision, every strategy, every investment can barge huge consequences to your company in the market.
Besides, as the Cheif Executive Officer of the company, the sword is always on you. So, we bring to you the 5 things you shouldn’t do as the CEO of your startup.
1. Lusting over Investor Funding
As a CEO of a sprouting startup, the focus of attention should always be emphasized more on developing the product rather than bagging the investor fundings. Sometimes a company’s over-dependence on external investor funding can be a distraction.
CEOs often fail to realize that the pathway of a successful startup does not run through the streets of funding but through innovative ideas and execution.
2. Not believing in your product
As the CEO of your startup, you should always be the first person to keep believing in your product. It is absolutely essential to have faith in your product.
The moment you start believing in your product, try to inculcate the same belief into your employees, investors and most importantly into your customers.
3. Not having a long term vision and goal
Not having any long term vision is just like driving infinite loops and not having a definite destination. To put it into simple words, goals are the little milestones you should look forward to accomplishing on a short term basis, whereas vision is the bigger picture; it is where you want to see yourself and your company, eventually.
Learn more about why startups fail and how you can work on that right here.
Moreover, translating this picture into realism is what makes a difference between a good and a great CEO.
4. Not treating your employees’ right
“Clients do not come first. Employees come first. If you take care of your employees they will take care of the clients”.
Employees are like the coal of the engine; they always keep it running.
As the CEO of your startup, you must always try and get the maximum output from your employees but not through staggered pressure, workload or unethical practices but rather through better communication and convincing.
5. Crack under pressure
Well, this goes to everyone even if they’re not a CEO.
It’s not a veiled fact that CEOs have to make decisive decisions which can change the fate of their company. They might be on the highest level of the hierarchy but it is the base that holds the concrete structure together. They are always exposed to constant pressure and scrutiny.
So, during such testing times, it is crucial to hold yourself up and take everything in your stride.