What advice do you have for young CEOs in terms of coping with the immense pressure and expectations on them?
Again I think it comes down to building the best team. As the CEO, you cannot possibly do everything or be intimately involved in every decision. You have to find people who you really trust and are the very best at what they do and then give them the space to perform. My role is then to make sure that everyone is pulling in the same direction and ensuring we are making progress.
It’s vital to remain positive under even the most challenging of times as your team will respond positively to consistency and a ‘can-do-never-say-die’ attitude. I always keep reminding myself to operate from a transformational rather than transactional perspective. With software such as ours, we’re focused on improving our clients’ profitability and market share and that requires consultative sales and deep domain expertise. If you really know what you are talking about, it’s only a matter of time before you can transform your clients’ environment and as a consequence, the transaction and invoice will follow.
I spend much of my time focusing on our core value proposition and what unique technology we require to maintain and grow that position. It’s easy to get swayed by the next new ‘big thing’. Have faith and confidence in your idea and hold the line. Many companies have failed due to the dwindling conviction of the CEO given how long it can take to build and sell your product. That said, be flexible enough to know when you’re missing the mark and then pivot.
Remember the power of compounding. Try to do just one impactful thing every day. By the end of the year, you’ve done roughly 250 things to improve your business. After two years, those ~500 enhancements will begin to feed off each other
and suddenly you’ll arrive at a place you never imagined would be possible.
Lastly, have fun. Taking on the challenge of building a company is so hard, we love to break the tension and long hours with laughter.