8 advices for young first time startup CEO
Update: It’s a replugged post of last year.
‘It is never too early and never too late to start something’. You might have heard that a lot of times. Yet, before you set off, ask yourself a simple question. Whether you want to be a wantrepreneur or an entrepreneur? Good for you, if latter is the case.
Many aspire to become CEO, visualizing it a glamorous job. However, the reality strikes like a thunderbolt, when you are aboard. Should you bother about being first time startup CEO? Not really, even the successful executives you see today had had their first times.
The thing with startup is that it’s more like a growing baby. As CEO, you must ensure that it is nurtured regularly to be full-grown. What is more, you never run a startup; have no idea what it’s like to be a CEO and what role you have got to play in this marathon. Fear not, Here we have compiled a few principles which you can follow in your professional life, and that has the potential to guide and help you out, through the early stages of your enterprise.
1. Expect the Unexpected
Initial days of your start-up might be crucial. You may encounter certain problems and obstacles which you hadn’t expected earlier. Be readily prepared to deal with unanticipated disturbances. Pre-plan things on your mind, don’t get stuck to “B” there exist 26 alphabets in English alphabets. (Just a reminder)
2. Build the team of selective individuals
Here is your first-big-challenging decision to make. It is very essential to build the right team. Pick out individuals who are passionate and put them on right places. Your team is your biggest support in professional life. Though, it’s very much similar to what they taught you in kindergarten. “When you go out in the world, watch out for traffic, hold hands and stick together” (Your team is all you’ve got). Choose wisely.
3. Communicate and Socialize
All organizations clash with inconvenience at some point. Keeping the news to you and not disclosing, is not a very good idea. You might think you would be able to fix the problem on your own. But there is a big chance of failure. A wise CEO would always welcome opinions from team members and board. Most importantly, hide nothing-especially the bad news. Communicating and Socializing establishes you further in your core career. It’s vital to have some mentors and advisors.
4. Keep a vigilant eye
Ensure that you have reliable and accurate information to hand. Remaining oblivion to your start-up’s essential matters counts in vulnerability. Pay attention to every necessary detail and undertakings.
5. Be a good decision maker
Multiple investors, clients, stakeholders, employees and more- who all have different goals, you can’t expect from them to be 100% right, all the time. Therefore, everything hinges on your decision. Your concerns in execution and implementation matters the most. Be decisive…
6. Have a support network
Establish yourself and the relationships you have with key mentors, investors, stakeholders early-on. These people play significant role throughout your career proceedings. Having a vast network of support is always better, both in personal and professional life.
7. Don’t forget you are visible all the time
Since you are young-CEO of an early stage enterprise. Many eyes will scrutinize you, nuts and bolts you utter, and also the measures you will take to grow your startup. A thriving enterprise must have a bold and honest leader.
8. Balance is necessary
The reality is that the CEO Job is hard enough itself. It can be a lonely job with intense pressures. However, you can make the journey enjoyable and have some fun along the way.
What we conclude is that the learning curve of first time CEO would be immense. “Experience is the best teacher” and there is no remedy which would make you successful overnight. Work slowly but steadily, and never be afraid of outcomes and failures. Remember “Nothing ventured, nothing gained” Good luck!