Not all entrepreneurs are cut out to be great CEOs and not all CEOs can think like entrepreneurs. It’s almost like two sides of the brain. But you truly need both to turn an idea into a fully functioning business.
So how do you know where you fall? How do you know if you can turn an idea into a business and whether or not you’re the best person to run the day to day?
Here are a few indicators that can help determine which side of the fence is best for you.
Entrepreneurs Are Idea Driven
Entrepreneurs are often driven by a singular idea, passion or mission. They are the ones who help drive the vision of the entire company. Others join entrepreneurs in going after their vision because they are attracted to the passion that an entrepreneur brings to the table.
Entrepreneurs are risk takers. (Not always knowingly by the way.) Sometimes their vision is driven by blind ambition to accomplish something that they simply can’t stop thinking about.
The drive to achieve or succeed is rarely driven by financial desire as much as a passion to solve a problem or to fill a need.
CEOs are Strategy Driven
The CEO can look at the problem identified by the entrepreneur and break down the best steps to achieve the vision.
They’re often able to outline a logical and strategic approach to accomplishing the mission identified by the entrepreneur.
CEOs can also help to identify team members and outside parties who can bring essential services and skill sets that will help to expedite and refine processes, procedures and product issues.
Entrepreneurs are all about Their Gut – It’s Emotional
In the early stages of a business, entrepreneurs usually don’t have any resources other than their own ambition and their gut.
They often have very little to go on to make a decision. Other than a handful of Google searches and a very strong belief that what they’re trying to accomplish is something the world wants and needs.
It’s actually a very scary position to be in. Because at the center of everything swirling around them is the core belief that whatever idea they’ve zeroed in on that it’s fully worth doing.
They know that everyone surrounding them has committed to this dream (right or wrong) and that if they’re ultimately proven wrong, all these other people that have invested their time, money, and skills toward their goal might be for naught.
CEOs are Numbers and Information Driven
CEOs often make their decisions less on gut and more when supported by empirical data. That data can be numerical, market based, economic or simply based upon a series of trends.
Decisions made by CEOs are rarely emotional and made out of need or their ability to recognize a situation or scenario where a strategic approach is necessary to accomplish the desired outcome.
CEOs can often see the forest through the trees and the details that the information can provide help them to make more informed decisions that are backed by proven data.
Entrepreneurs Inspire With Vision
A lot of people are attracted to start ups because of the excitement that exudes from the founders. The vision that the entrepreneurs establish from the get go can be very infectious.
Especially when it feels like the business or opportunity is something no one has ever attempted before.
It’s like being a member of a very exclusive club or in the know of a highly confidential secret.
Entrepreneurs who attract large teams are able to successfully communicate their vision in a meaningful way.
They’re able to relay both the opportunity or problem at hand as well as why they believe their solution to that opportunity is the best available option.
Being a part of something exclusive is truly exciting — but being able to help build something that you know will have tremendous impact on a large group of people is potentially life altering.
CEOs Translate Vision Into Goals
The hardest part about turning a vision into reality is finding a way to break it out into achievable steps.
How does one step lead to the next, and then to the next but in a way that is attainable, reasonable, economical and realistic.
A CEO should be able to identify and outline such steps and communicate them in such a way that any team can reasonably achieve the goals established by the company.
A CEO has to be able to identify a company’s strengths and weaknesses and find ways to enhance the strengths and shore up the weaknesses.
So Which Are You?
Being a CEO or an Entrepreneur isn’t always a clear choice. Some people are very adept at doing both.
They are both the lead visionary as well as the lead strategist.
But it’s important for your to recognize where your skill set is. Are you best coming up with ideas or implementing those ideas in a meaningful way?
Are you best at attracting the people who can achieve your goals or are you better at managing those folks to accomplish the daily tasks that’s part of the grind of building a sustainable business?
Figure out your strengths and admit to your weaknesses. Your business may very well depend upon it.
