First Time CEO

Many CEOs understand that importance of hiring good employees. Good employees will make a CEO’s job much easier. The same is true of vendors or as some people call them “partners”. If you create a good partnership with your vendor you will be rewarded in ways you didn’t anticipate.

I picked up a great pearl of wisdom from a VP of Marketing. She said “partners should make your job easier, not harder.” I’m sure we’ve all been there when we were working too hard to make something work for our company and our partner. A good partner will make it so you don’t have to work that hard.

In getting this blog going I looked up some other blogs to get their take on what would be some good tips for a first time CEO. Jeff Richards came up with a list of seven tips for the first time CEO that is trying to raise money.

Here is a brief summary of his seven tips:

1. Create several financial models and options.
2. Nail the financials and legal.
3. Build the team.
4. Craft a marketing plan.
5. Nail down your sales process.
6. Build a Board.
7. Get your personal house in order

On the face these would appear to be fairly straightforward tips but don’t be deceived. Building a team sounds easy but finding the right people is difficult. What ever the first time CEO does they should not hire weak performers.

I was in a discussion with a colleague yesterday about a his new business idea. The one comment that stuck out for me was his insistence that marketing was the easiest part of this start up venture. My experience tells me a good marketing plan doest not materialize easily.

I could probably elaborate on all the points that Mr. Richards makes but the two listed above are aspects that appear easy but are not.