Why You Must Think Like A CEO (Even If You Have A Solo Biz)

How to grow your business by stepping back and delegating tasks that don't fit into your ideal role as CEO.

This post was written by Tracy Matthews, Chief Visionary Officer and Creative Director at Tracy Matthews Jewelry and Flourish & Thrive Academy.

“The entrepreneur is our visionary, the creator in each of us. We’re born with that quality and it defines our lives as we respond to what we see, hear, feel, and experience. It is developed, nurtured, and given space to flourish or is squelched, thwarted, without air or stimulation, and dies.”

Michael Gerber

When I started my first jewelry business, I thought of myself as a entrepreneur. I had a vision of a better life full of freedom, one that did NOT involve working for the “Man” but for myself. Instead of creating a business, I actually just created a JOB for myself. When I went out on my own, I knew I had what it took to become a successful jewelry designer. What I didn’t understand when I took that big leap was the most important part of the process: understanding that in order for my business to thrive, I needed to treat this “baby” like a business instead of a job and act like a CEO.

When I was first starting out, it seemed odd to call myself a CEO. I mean, I was working in a 100 square foot office by myself doing everything from designing, selling and making orders. And I am an artist.

I was passionate and looking for ways to make things happen…so I made them happen without the structure or guideline for my business.

Why must you think like a CEO (even if you have a solo biz)??

I know first hand that having passion and trying to turn that passion into a legitimate business is not an easy thing because there is a balance! Ultimately your clients are purchasing a little piece of YOU, but does that mean YOU have to be involved in every step of the process?

The answer is definitely NO and here are the reasons why:

1. You need to be the creator of your vision…

The most important position for you in your business is creating the vision. This might mean designing your collections, connecting with clients or being the “Face” of your company. It also means having a vision of where you want to go. Think of yourself as the driver of your overall vision. You must lead in this way even if you are doing this solo right now.

2. Or else you’ll be stuck…

By doing everything and staying stuck in the day to day, it becomes very difficult to ever grow or get better at your craft/design/passion.

I understand this first hand. It wasn’t until 7 years “in” that I understood that my efforts were best served creating vision and feeding my passion rather than reacting, dealing with the day to day, and managing people. Plus, doing all of this stuff sucks the creativity out of you.

3. Unable to make the profits you deserve and desire….

By outsourcing the minutia (including your production) and acting like a CEO, you’ll have the opportunity to make a lot more money.

I know this is a controversial topic, because in the eyes of a solo-biz owner, often times the thought of actually paying someone else seems like it would suck the cash out of the business. The truth is this: by finding a skilled worker to replace you in areas that aren’t your zone of genius (and even production) you will have more time to actually grow your business, focus on what you do love and ultimately make more money. Most of the people you hire for these slots will make a lot less money that you want to pay yourself allowing your pricing to be more competitive AND create a business that is more scalable. It may not be right for you now, but I encourage you to explore what you can outsource and let go of.

I know for some of you, this idea might be foreign and it might seem difficult to let go and become a visionary. However, if you want to create a profitable jewelry brand, you must get on the “Think like a CEO” train.

Take Action Now:

1. Set your timer for 15 minutes and list the things that are keeping you STUCK in your business.

2. Spend another 5 minutes placing a star next to anything that DOES NOT light you up.

3. Leave your observations in the comments below.

Originally posted on the Flourish & Thrive Academy blog. Reposted with permission.

Live training and Q&A session on Facebook

Feeling totally overwhelmed because you have too many things on your plate? If you are struggling to keep up with the multiple responsibilities of running a small (product-based) business and aren’t sure what to do, join us for a Q&A with Tracy Matthews of Flourish & Thrive Academy. She’s a master at delegating and setting up outsourcing systems. Whether you are ready to let go of the reins on making or want to delegate some lower level tasks on a budget, Tracy will answer your questions and show you the graceful path to letting go and scaling up your business. Goodbye frazzled. Hello freedom.

Join us October 25, 2016. 10 am Pacific Time, 1 pm Eastern Time, in the Aeolidia Facebook group. Request to join today and we’ll hook you right up.

Ready to scale your business?

Are you ready to prepare to scale your business, too? First, you’ll need to figure out what your ideal role in the company is, and figure out what you can delegate now to free up time for the big thinking and planning you’ll need to do to take your business where you want it to be. Grab our free workbook to do this:

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Building Your Brand

A checklist of what you’ll need and an indicator of where you’re at creating a brand that will resonate with your customers.

Determine your ideal role in your biz and consider how to take care of the things that may not be the best fit for you.