You’ve built the business from scratch or acquired it when it was smaller and struggling. The business has grown under your efforts, passion and leadership. You believe you are the founder and they call you the CEO or President as a job title. The question is – what’s your performance profile today? What does the business need you to do today to actually scale into a big business, perhaps employing 101 people, 500 people or 5000 people?
Based on 30 years of advising, financing, acquiring and leading numerous businesses here is my little test for you the CEO. Max score is 5 for each question. Total possible score 100. Give it a try. If you totally agree with the statement give yourself 5. Question 7 requires some explanation. Give yourself 5 if 6 or less people report to you dropping down to a score of zero if as many as 11 people or more directly report to you.
Conclusions
- A score of 85 or above implies to me that you are working on the right stuff and scaling a business with great talent that are motivated to achieve your vision. You deserve to succeed.
- A score of 60 to 75 implies too many 2s. Too many major issues are being ignored or done badly. You are causing leakage in the system that will lead to underachievement. Re prioritize the stuff you need to work on.
- A score of 40 to 60 implies you need to rethink your role as CEO. Are you the best leader to scale the business to the next level? This is tough love. But this score implies you need to change your pattern of behavior or change roles.
- A score below 40 implies you are not performing the CEO role to an acceptable level. Of course assuming you own all the shares in your business it’s unlikely anyone can fire you! However there is a much better way. It’s unlikely you are enjoying the role and it’s unlikely the business is scaling but you clearly have great value to add. Work out who could run it better and define the best way for you to make that person a success.
For a confidential chat about your role don’t hesitate to reach out at ian.smith@portfoliopartnership.com or call.
