From Entrepreneur To CEO

I am currently transitioning from entrepreneur to CEO of Cognitive Science Partners. While this is a very exciting time in my company, it brings with it challenges. One of the biggest challenges I face is how to be the most effective CEO I can possibly be. Using my time wisely, keeping myself and the team on track to meet our end goals while making the biggest ROI for our Shareholders.

Most of us would agree that the resource we lack most is time. How many of us have rushed from meeting to meeting, checking our e-mail constantly, fire fighting. How many of us are guilty of thinking we are attending to important matters, but we are really just spinning wheels. Much research has been carried out in this area and results show:

90% of managers squander their time in all sorts of ineffective activities.

10% of managers spend their time in a committed, purposeful, and reflective manner.

Effective action relies on a combination of two traits:

Clear Focus--the ability to zero in on a goal and see the task through to completion
Energy--the vigor that comes from intense personal commitment.

Focus without energy devolves into listless execution or leads to burnout. Energy without focus dissipates into aimless busyness or wasteful failures.

So in order for me to be the most effective I can be, I am implementing the following steps (Heavily influenced by the book Seven Habits of Highly Effective People - a must read for those of you not familiar with it)

Be proactive.
Change starts from within. To lead effectively, I have to overcome the tendency to react to external forces.

Begin with the end in mind.
We have a definete exit strategy. All actions must keep us on the path to achieving that exit strategy in the correct time frame, while ensuring Shareholders get the best possible ROI. I can only lead effectively with a destination in mind.

Put first things first.
Maintain a very clear view of what is important, so that I know what to spend time on and what my team should be spending time on.

Think win/win.
I must always seek relationships that are mutually beneficial to Cognitive Science Partners and the other party. In cases in which a win/win deal cannot be achieved, accept that agreeing on "no deal" may be the best alternative.

Seek first to understand, then to be understood.
Stephen Covey presents this habit as the most important principle of inter-personal relations. Effective listening is not simply echoing what the other person has said through the lens of your own experience. It is putting yourself in the mindset of the other person, listening empathetically for both feeling and meaning.

Synergize.
I must always strive to find ways to leverage differences to create a whole that is greater than the sum of its parts.

Sharpen the saw.
Take time out to maintain a balance of the physical, mental, social/emotional, and spiritual dimensions. Doing this will ensure my batteries are kept well charged.