Magazine article Management Today

Employing a Professional Ceo

Magazine article Management Today

Employing a Professional Ceo

Article excerpt

DILEMMA: My business is profitable, but in chaos. We're all exhausted and tempers are frayed. I just can't manage it myself any more. I'm thinking of employing a professional chief executive.

ISSUES: Although highly professional visionary leaders are exceptional people, the next best thing to being one is to recognise that you're not. It's frustrating to realise that your ability to lead and manage doesn't match your creative or technical prowess but it's better for business in the long run.

If you do recruit, how will your own role change? This is as important as knowing what your new CEO is going to do. Assess your own capabilities. And make a realistic assessment of your top team and of the true potential of the business. Why would someone want to join you? Is it market opportunity, your technology, the chance to get equity, freedom?

Finding someone with similar values and passion for your business might prove harder than finding someone with a good track record. A recruitment like this takes time, maybe six months or more. You could advertise or take the DIY route, but a good search firm may be a better bet, It can help clarify the role and remuneration package issues and give you access to the right candidates. …

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