As a business owner in the events industry, you’re no stranger to juggling all the responsibilities necessary to stay afloat. Even if you have a team, you know that being a CEO involves more than strategic planning the company’s future; you also have to ensure all of the inner mechanisms of your business are running smooth and sound.
When you’re starting out, these eight areas might be simple to manage. However, as you scale, your approach will need to evolve alongside your business. That may mean implementing new systems, consulting with a business coach, or hiring more staff—or a combination of the three.
As you get your business in order and start building out better solutions to grow with you, consider these eight key roles you currently fill and how you can streamline each of them.
You might have an accountant or you may have a drawer full of receipts that need your attention. No matter where you fall on that spectrum, the buck ultimately stops with you as the Chief Financial Officer (CFO). Get comfortable with your numbers if you’re not already, as you need to be mindful of your revenue and expenses to keep your profit margins healthy. Being mindful of your cash flow cycle will help you to identify problems, make smarter financial decisions, and forecast your business’ performance to make well-informed plans for the future.
As the Chief Operating Officer (COO) of your business, you’re also responsible of making sure your workflows are running smoothly and delivering results. Even if you have a team handling smaller day-to-day tasks, it’s your job to ensure they are organized and have what they need to achieve success. You need to work your internal magic to set realistic goals, cultivate a strong company culture, and seek out opportunities for growth.
What’s a business without its loyal customers? That’s right—you are also the Chief Experience Officer (CXO), as you are responsible for how your clients perceive your brand through their interactions. Even a few bad reviews can leave a stain on your brand, so it’s essential to prioritize your clients’ satisfaction and ensure they enjoy their time and sing your praises through referrals and reviews!
Systems & Processes
From CRMs to automated workflows, the average business runs on a number of systems that ensure everything runs as expected. Only you know what works best for your business, which makes you the ideal candidate for Chief Systems Officer (CSO). Much like a CIO but without the IT training, you’re likely always on the lookout for bigger and better systems that further streamline your business operations.
Growing an effective, reliable team is hard work but one of the best things you can do to establish a sustainable foundation for your business. As the Chief of Staff, you serve as the leader to your whole team—whether it’s made up of interns, employees, contractors, or a good mix of the three. From ensuring they are paid on time to providing feedback to help them improve, it’s essential to recognize that their success is your success. Solopreneurs may not worry about wearing this hat just yet, but as the time comes for you to grow (and it will!), you’ll need to prepare to hire, onboard, and lead your team to success.
Products & Offerings
Product and service-based businesses both have to ensure the quality of their offerings, from developing the best features to accurately pricing them for market. As Chief Product Officer (CPO), your customers rely on you to provide them with only the best offerings to solve their biggest problems. It’s up to you to know exactly what your clients need and meet their expectations in a way only your business can.
With all of the other areas in good standing, it becomes the Chief Marketing Officer’s (CMO) job to increase visibility, attract new business, and sell the audience on the brand’s offerings. From social media advertising to long-form content marketing, you are responsible for overseeing the brand’s messaging strategy to win over new clients. While you may not write the posts or send the emails, you provide the framework that will earn your ideal client’s trust.
All of these responsibilities surely keep you busy, but let’s not forget that you’re also the CEO of your personal life. An overwhelmed, uninspired leader struggling with burnout cannot drive a business to success; you need to take care of yourself first. It starts with getting enough rest, taking care of your family, nurturing your hobbies, and embracing education for personal growth. You must bring the best version of yourself to the business every day, and that all starts at home.
With these eight areas in mind, start thinking about the spots that could use the most help. Where are you lacking support? Look for new solutions that will help you tame the business overwhelm and allow you to step into your role as Chief of Everything without the unnecessary stress. Running a great business will always come with challenges, but that’s no reason to let it get out of control!