Your 3 Roles as a CEO – E83
What does your job look like when you start working on the business instead of working in it? Mandi Ellefson describes the three main roles that CEOs assume to maximize both their time in the business and the earning potential of the whole company in this solo episode of Hands-Off CEO.
- A CEO is responsible for providing vision, accountability, and support. Vision encompasses growth strategy, mission, and culture; accountability involves setting and managing agreements; and support refers to the training and material support that employees need to be successful. [4:17]
- Most CEOs struggle when it comes to accountability, and what it means to hold their people and themselves accountable. “People are not really manageable, but agreements are,” Mandi shares. “You can have agreements between two parties and manage those agreements – that’s how you drive accountability.” [11:27]
- CEO productivity is not defined by what the CEO can do with their time but by getting work done to other people. [12:47]
- The entrepreneurial operating system (EOS) is the foundation for operating your business based on agreements, as described by the book Traction. Though it’s a useful and practical guide, companies below $3-5M shouldn’t put all of their time and energy into implementing all the tools in EOS. At that stage, they should be expanding their vision and installing pieces for accountability. [13:15]
- The integrator role in the EOS assigns too much responsibility to one person in a growth stage company. Instead, having an operations manager who works with a CFO is much more suitable. [15:18]