The CEO Doom Loop
Jul 21, 2024Welcome to Emerge Insights, my weekly newsletter, where I reveal cutting-edge tips to help you find momentum, scale up your business, and reclaim your life.
What's in store for today?
- The CEO Doomloop
- 3 Biggest Barriers to Growth
- Fueling the Human System
In flight school, they'd have us stall the aircraft and enter an incipient spin–a spinning nose dive to ward the earth. The first couple of times, I was convinced I was going to cover the cockpit in vomit. So, anti-nausea became an item on my pre-flight checklist.
As business owners, we encounter something as unsettling while growing our businesses: The CEO Doom Loop.
Recently, I interviewed my good friend and fellow Metronomics coach, Glen Dall, on what he terms the CEO Doom Loop.
Glen interviewed 72 global CEOs of companies with revenues between $2 million and $200 million, and here's what he found...
1. The CEO Doom Loop
The CEO Doom Loop is a holistic problem that arises when individual issues faced by CEOs converge, creating a cycle of fear and failure.
It occurs when organizational complexity grows faster than the CEO's leadership skills, causing them to become bogged down in details and preventing effective delegation.
This lack of delegation and trust in the team reflects the CEO's own leadership shortcomings, leading to the absence of strong leadership teams and further exacerbating the cycle.
Signs You Might Be Slipping into the Doom Loop
- Overwhelmed by organizational complexity.
- Micromanaging instead of delegating.
- Struggling to trust and empower your team.
- Stagnation in company growth and innovation.
How to Recover
- Develop a strong vision and culture: Realign your goals with the changing landscape.
- Build an empowered leadership team: Surround yourself with “A” players and hold them accountable.
- Be an ambassador: Communicate your vision and culture, both internally and externally, relentlessly.
Embrace these principles to break free from the Doom Loop of fear and self-doubt. Transform your leadership and your business.
Watch this short video where Glen sums up the Doom Loop...
2. The 3 Barriers to Business Growth
The three biggest barriers to growth in any business...
- Leadership
- Market Dynamics
- Scalable Systems
Here's how to overcome them...
-> Leadership Team: Build a high-performing, A-player leadership team in which every team member is accountable for a key function in your organization.
Take Action: List all the functions in your business: sales, marketing, finance, operations, etc., and ensure you have an A-player accountable for each role.
-> Market Dynamics: Ensure your leadership team is keenly aware of market conditions so they can adapt and evolve strategies.
Take Action: Have every team member attend your weekly meeting prepared to share one threat or opportunity in your industry.
-> Scalable Systems: Build scalable systems that run your business efficiently, allowing your team to focus on growth.
Take Action: Have each of the leaders on your team document key processes in their function. We use Google Docs and short videos made with Loom.
đ Focusing on these three areas can help you break down the barriers and scale your business effectively.
(Zach Mercurio @ The Small Giants Summit - photo credit Small Giants)
3. Fueling the Human System
I recently had the pleasure of speaking with Zach Mercurio, author of The Invisible Leader. Our conversation delved into the often overlooked yet crucial aspects of business: Culture, Core Values, and Vision... the softer side of the business.
While most CEOs and leadership teams excel in strategy and execution, they frequently undervalue the softer side of the business. Zach highlighted the importance of these elements and their role in a company's success.
Zach introduced a compelling idea: once you've developed your strategy, how will you fuel and refuel the human energy needed to execute it?
Most business owners don't put much thought into the Human System that powers their strategy.
âđ» Journal prompt for the week: How much time are you putting into the softer side of your business? Are you thinking about how you keep your people energized to execute your strategy?
One Quote to Start Your Week Strong
How close to the edge are you ...and are you in danger of slipping into the Doom Loop?
Have a great week!
- Jean
When you are ready, here are 3 ways I can help:
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Assess your Business's scalability: Benchmark your business's potential for scaling. In just five minutes, you can assess your company against the 6 key systems you need to activate to ignite compound growth. Get your results here.
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The Foundations for Business Growth Masterclass: When you are ready to scale your business, we run a Foundation for Business Growth Masterclass twice a month. Signup here.
- Are you a CEO who wants to find business momentum, scale up, and boost your business value? Apply for Business Team Coaching here.