delegation

Tips for CEOs of a Stage 3 Company

delegationThe underlying principle of The Stages of Growth Series is based on effectively navigating your growth curve by balancing between equilibrium and chaos brought about by complexity caused by the number of employees, not revenue. The number one focus at each of the 7 stages of growth from start up to 500 employees is addressing the shifting people-related challenges.
The Primary Goal of the CEO of a stage 3 company is to lead a major transformation by delegating and shifting from a CEO-centric to an enterprise-centric company.

By stage 3 the CEO has outgrown his/her original span of control. It is critical that the CEO build trust among the management team in order to support the challenge of having them take on more responsibility and authority.
 
Leadership Skill Set
CEOs of a stage 3 company must develop the following essential leadership skills:
• The awareness to assign enough managers
• The ability to delegate authority and train for that authority.
• The ability to manage, orchestrate and empower the mangers.
• The ability to address cost issues.
• The ability to see the need and manage the growth.

The Top Five Challenges in Stage Three:
1. Staff Buy-in
2. Communication Gap
3. Business-Profile Design
4. Unclear Values
5. Resistance to Change

The Five Non-Negotiable Leadership Rules
The CEO of a Stage 3 Company must . . .

1. Release control to capable supervisors and provide them with leadership and guidance.
2. Instill a team-based mindset.
3. Create an advanced financial reporting and projection system
4. Overhaul the business model.
5. Strengthen all communication.

Coming Next Week:
The Five Challenges and Non-Negotiable Leadership Rules of the Road for CEOs of Stage 4 companies with 35 to 57 employees

Action Step: Implement A Management Development Program

Click here to review the essential skills required for all managers and team leaders in a stage 3 company.

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