Acting Like A CEO

When I started my business, I felt like I was just playing around. I was a new business owner, figuring things out as I went along. This is a common feeling, and many of us struggle with imposter syndrome in the early stages. As I began to make some money, I felt more like an entrepreneur, coming up with new ideas and selling courses and programs. But even then, I felt a bit like a fraud. I had an image of entrepreneurs as Silicon Valley visionaries, not someone like me working from their living room. I was certainly not acting like a CEO.

However, I realised that today’s entrepreneurs often work exactly like I was—creating and helping people online. This realisation was encouraging, but it wasn’t until a few years into my business journey that I understood the need for a significant shift in mindset to truly transform my business.

I started observing successful people in my field. What sets them apart? They seemed to be doing similar things, but there was something different about their approach. I finally realised it was their mentality—they were acting like a CEO, not just as solo entrepreneurs.

Thinking like a CEO was a new concept for me. Coming from a corporate background, I was familiar with the role of a CEO as a strategic leader making big decisions. A CEO oversees the business, rather than seeing themselves as the business. This was the shift I needed.

So, I decided to adopt a CEO mindset in my business. This meant making decisions and planning with a long-term strategy in mind. Instead of waking up each day and deciding on the spot what to do, I began to think about the big picture. Now, I focus on what a CEO would do. I have a small sign that says, “What would Lisa do?” but my mindset is really, “What would a CEO do?” This has led to significant strides in my business. I no longer just react day-to-day; I plan and execute with a clear vision.

The importance of staff

One of the first major changes I made was hiring staff. For a long time, even when I was making seven figures, I was doing almost everything myself. I had a tech VA for a few hours a week, but I handled marketing, customer service, and delivery. If I wanted to run my business like a CEO, I needed people in their zones of genius handling different tasks.

Initially, I was reluctant to delegate because I believed no one could do things as well as I could. This mindset was holding me back. People out there are experts in writing, marketing, and tech, and they could do these tasks better than me. I realised I should have hired help sooner. Although I wasn’t bringing in much money at first, hiring the right people would free up my time to focus on what I do best—selling.

I started small, taking on one person to handle a few tasks, then gradually built up my team. Within a year and a half, I had a team of six, and now we are a team of 12. A CEO hires people who excel in areas where they are less proficient and doesn’t let ego get in the way.

Changing my social media presence

Another major shift was changing how I approached social media. CEOs don’t get involved in the gossip, arguments, and petty drama that can happen on social platforms. Looking at successful figures like Brene Brown or Oprah, it’s clear they don’t waste time responding to every negative comment. They focus on their larger goals, not on petty internet battles.They maintain a professional distance.

I decided to step back from social media, but I didn’t want to disappear entirely. We devised a strategy to maintain my presence without me being actively involved all the time. We started using Facebook ads and created an omnipresence campaign. Here’s how it worked: if someone engaged with my content, they would see more of it. For example, if someone watched a video, Facebook would show them additional posts and videos from me.

I occasionally write posts when inspiration strikes, often when travelling. These posts are then repurposed across different platforms, including Instagram and email campaigns, and can even become part of our ad strategy.

This approach allowed me to stay away from social media’s daily noise while maintaining a strong and consistent presence. It kept me focused on bigger business decisions and growth strategies, like a true CEO.

Rethinking investments

The CEO mindset also changed how I view investments. As an entrepreneur, it’s easy to see business money as your own, making spending decisions feel personal and risky. But as a CEO, I learned to see money as the business’s money and investments as necessary for growth. If you want your business to expand, you need better systems, more staff, and quality masterminds.

For instance, moving from basic tools like MailerLite and ActiveCampaign to a comprehensive platform like Kartra was a significant upgrade. We opted for VIP options and hired more staff, all of which required substantial investment. However, acting like a CEO means understanding that these investments are essential for reaching higher goals. You have to spend money to make money, and this perspective makes it easier to take calculated risks.

Planning for the Future

Another shift was in strategic planning. Previously, my strategy was short-term, focusing on the next six months. Now, we think bigger and plan for where we want to be in one or two years. This long-term vision is crucial for a CEO. We set big goals and determine what resources we need to achieve them. For example, if we aim to make $6 million next year, we figure out how many staff members we need, what systems should be in place, and what strategies will support that growth.

Empowering the team

A significant aspect of the CEO mindset is empowering your team. Initially, I was involved in every detail, making all the decisions even when I had a tech VA and a business manager. I realised that for the business to grow, my team needed to be able to make decisions independently. We now have strategy days where everyone is involved, understanding the vision and their role in achieving it. This approach ensures that even if your team is small, everyone is aligned and can autonomously contribute to the business’s success.

Learning from the best

One of the biggest shifts in my approach was learning from those at the top, rather than trying to save money by learning cheaply. As entrepreneurs, we often want to keep costs down by taking low-cost courses, attending free webinars, or reading books. But this approach is like climbing a ladder one rung at a time. Instead, I decided to learn from those who were already where I wanted to be in three years. By understanding their strategies now, I could skip a few rungs on the ladder and reach my goals faster.

Implementing boundaries

One of the hardest parts of adopting a CEO mindset was implementing boundaries. Even after I started acting like a CEO in other ways, I struggled with setting boundaries because I wanted to be liked. This meant dealing with difficult clients for too long or not enforcing my contracts out of fear of negative feedback. But a CEO understands the importance of boundaries and is not afraid to take necessary actions for the health of the business.

I used to give a lot to people who promised to be affiliates or partners, often promoting their products to my audience in anticipation of future support. However, many times, these people didn’t reciprocate. It’s crucial to say no to those who take advantage of your generosity. For instance, I had people wanting to use my audience for their benefit without offering anything in return. This included clients and supposed friends who would want to promote their products in my space without any reciprocal support. I realised that a CEO wouldn’t allow this—they would protect their resources and ensure that any partnership is balanced and beneficial.

By acting like a CEO, I started pushing back and saying no to inappropriate requests. I understood this would lead to losing certain people who were only there for their benefit. This also meant severing ties with brand collaborations that didn’t align with my values. Recently, I stopped using a gift supplier after realising our values didn’t match. A CEO would prioritise the corporate brand over personal relationships, so I did the same, regardless of potential backlash.

Handling non-payments

Another boundary issue was dealing with non-payments. Although we’ve had few instances, those who didn’t pay often cited personal hardships, appealing to my sense of integrity. Feeling guilty, I would sometimes excuse their payments, only to later see them working with other coaches. This experience taught me that integrity also means ensuring everyone pays what they owe.

To avoid subjective decisions, we implemented clear policies regarding payments. Now, it’s not a personal decision but a company policy: if someone doesn’t pay, we take legal action. We offer payment plans, but if payments are missed, the policy outlines the next steps. This removes the emotional burden from me and ensures consistent enforcement.
A CEO wouldn’t let such situations slide; they would have strict policies in place.

Thinking and acting like a CEO

Adopting a CEO mindset has significantly impacted our business growth. Even when I had only one team member, I started asking myself, “What would a CEO do in this situation?” Whether it was dealing with negative comments online or deciding on investments, I approached each scenario with a CEO’s perspective. For instance, if someone posted something negative about the company, I wouldn’t engage in a public argument; instead, I would consider legal advice. When it came to investing in the business, I evaluated what was best for the company rather than opting for the cheapest solution.

I hope this blog helps you start thinking of your business as an actual business rather than a solo venture from your kitchen table. To thrive and make significant strides, it’s crucial to shift your mindset to that of a CEO. This means making decisions that are best for the business, maintaining consistent policies, and handling feedback and complaints professionally.

I’d love to hear your thoughts on this topic. Please feel free to comment on the blog!