CHIEF EVERYTHING OFFICER
- startupfinance
- Jul 6, 2016
- 2 min read
When asked what does acronym CEO mean, most people would rightly respond: “CEO stands for Chief Executive Officer…silly!” The title of the most senior executive in an organization evokes images of private jets and lavish corner offices. However, the real life of a growing startup CEO is extremely different and has very little allure associated with the position. More often than not, the acronym changes from Chief Executive Office to Chief Everything Office. STARTUP FINANCE MADE EASY by Oleksiy Nesterenko provides an overview of the 5 main roles that a successful startup CEO should aim to fulfill.
Visionary
Why does the company exist? What problems is it trying to solve? Why does the marketplace need it products? Effective startup CEO must be able to answer all of these questions, and clearly outline the vision for the company and its product. Painting the inspirational vision for a startup will help to cultivate a culture of innovation, inspire the team, and create clarity in focusing on winning strategies that support the vision.
Key strategist
In a growing business, majority of the time is spent tackling every-day tactical issues. In addition, although, tactics can lead to small day-to-day wins, strategy is what needs to ultimately drive those tactics and fuel long-term growth. Thus, as a CEO, one of your main roles is to devise the strategy for your company by intentionally taking time to think about where you would like your business to be in 12 months, 5 years, and what strategic actions you need to take to get there.
Recruiter extraordinaire
Most venture capitalists are looking for five things in a startup: people, product, people, market and people. Without having the right team in place, there is very little chance that a company will be able to succeed. Thus, at the early stage, CEO needs to wear the “head of HR” hat and hire the best people with the best fit for the company’s product and culture.
Top salesperson
Being a creative innovator with a clear execution strategy is not enough. The successful CEO needs to be the top salesperson for the company and its products. From the very first moment you conceive the idea for your company, you need to start selling (and never stop).You will sell to new hires, investors, partners, customers and anyone else who can help you grow.
Cash flow champion
Diligent management of a startup’s cash flow is critical to its survival. After all, if you run out of money, then you have no business to operate. In addition, it is the CEO’s responsibility to manage revenue, expenses and external financing to maintain the consistent growth of the business. Even if you have a strong CFO, he/she will still need to answer to the CEO’s guidance on cash flow-related matters.
Managing all of these roles can certainly be challenging. However, understanding that your job is much more than being "the boss" will help you, your team, and your startup to become a successful business.
For more details please visit http://oleksiynesterenko.webs.com/
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