Questions

I'm running a $10MM/year (and profitable) direct response company with 18 permanent employees and another 10-20 freelancers. We're based in Eastern Europe and selling to the USA. My core strengths are in marketing and innovation, not in management, planning, organizing. What should we be aware of when trying to bring a CEO to help us grow? Pitfalls? Mistakes we're bound to make? It's our first attempt at this. Thank you!

Hiring a CEO for the first time is very important. Especially after you have successfully run this business. Answer can be long based on various assumptions, however some of them I shall cover. Hope its helpful.

- Most importantly, you need to be sure that the new CEO would like to understand your vision and make it possible to grow without changing the organizational DNA which you created.
- Hire a CEO had built a company from certain stage to significantly to an other level.
- Also take help of any good mentor who can really classify your behavior and what helped you to grow business and help you map with new person to complement the skills & Knowledge. Mentor can use various tools to measure and give feedback.
- Have the new person meet your existing best employee or partners. take their view point.

Important:
- Don't look for a person like you. Have them with diverse and different view points but can align to your vision.
- Make the important arrangement of pay for performance as much as possible. So that the CEO has a skin in the game.

Don't rush to take a decision. While you do this activity make sure you are running your business as usual.

Thank you and hope to have more conversations on this from the members to learn some more view points.

All the Best.

Regards,
GR Reddy (GR)
Husys Consulting Limited
India


Answered 8 years ago

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