Chief Psychologist?

My Life as a CEO (And VC): Chief Psychologist

When most CEO's move up the ranks, some forget they need to change their skill set. As a worker, you excel because of your technical skills. If you get promoted, now you need to refine your leadership skills because you're managing people. No one cares if you're the best at what you do if no one will listen to you...

The move from middle management leader to CEO means you have to become more strategic minded. You set the vision (direction) of the company you are leading, yet statistics show 50% of a CEO's time is spent dealing with interpersonal issues. (Time to hire an external coach!) 

I believe the higher you move up the "totem pole" the less you actually deal with customers and the more you deal with employees. It can cause real headaches, but it's the reality of the job. Know this going in and if you're not willing to play the mediator, don't take the gig!

Cheap Eats Leadership

I'm always looking for the next great local eatery that gives me good bang for my buck. Cheap eateries stay alive because of their nostalgia and raving fans. Here's 3 ways you can follow their lead:

 

Great Value. Getting more than what you paid for. Provide an exceptional product/service and offer it at a competitive price. When you interact with others, would they say you give them great value? 

 

Word of Mouth Marketing. Cheap eateries don't spend much money on advertising. They depend on customer driven publicity. Social media is flashy, but word of mouth is more effective. Get your "customers" to promote you!

 

Raving Fans. Fans are committed customers. They voluntarily spread the word to their friends. A raving fan is worth more than 10 customers. Make your goal to create raving fans.

 

Observe how local eateries create great value and inspire their customers to market for them. Word of mouth marketing may be cheap, but it keeps people hungry for more.

 

Are YOU creating raving fans?

10 Entreprenuer Mistakes: Which ones do you make?

10 Mistakes that Start-Ups Make

I'm guilty mostly of:

#3 (spending too much time on features, not enough on benefits) 

#4 (to niche or not to niche)

#5 (needed a market/customers before I launched passionately)

Which of the 10 do you struggle with the most? Why?

Are Attending Conferences Worth Your Money?

Conference Attendance 101

I've gone to many conferences only walking away disappointed. I used to believe the main dish was the speakers, but you can only listen to so many people talk before being completely brain dead (and not remembering a thing).

What if you changed your approach? Instead, you planned who you wanted to talk to and what you will say when you converse with him/her. Consider a conference a place to "bump" into people intentionally and build your network. It's about quality, not quantity, so plan to continue the conversation after the conference has come and gone. 

What do you think?

Stop! Don't Cut That Training Budget

Original Article

Even with profit loss, the last thing you should cut is your budget. Instead invest in your current workforce by spending money on training. Your employees will feel valued and appreciated which translates to better customer service for your customers. 

+ training = + engaged employee = + customer-employee transaction = $$$