January 19, 2011

The #1 Mistake CEOs Make

By far, the number one mistake CEOs make is "waiting too long to (whatever)".  This is the answer given by 80% of those interviewed.*  This amplifies my previous post about "not taking action".  Now that you have learned this most important fact, DO SOMETHING!  That's your job, right?  Chief EXECUTIVE Officer.  Executive means to "execute".  That's another word for Do.

The way I see it, we learn nothing by doing nothing.  It is only by taking Action that we learn something.  We learn that the results of our actions are either good or bad.  If the results are bad, then we need to take Action again, quickly, until we get the good results we want.  But "waiting too long" is a prescription for mediocrity, and possibly even extinction.

*The source for this statistic is the instructor in my class on Entrepreneurship at UCSD.  He's a Venture Capitalist.  He should know.