Entrepreneurs’ Organization Boston (EO Boston) is one of the leading entrepreneurship platforms taking a different approach to entrepreneur development through forums. The trick has been so viable that most participating CEOs have achieved an upward trajectory in their performance and growth.
Let’s analyze some of the issues CEOs struggle with and how exactly EO Boston is helping them overcome these challenges through a forum mindset.
A 2018 PwC study shows that most companies promote internal candidates to the CEO position because internal executives are a safer bet. However, given their ascension from regular staff to a leadership position, these CEOs often struggle to fit in. Here are the common challenges they face:
Living in the Shadows
CEOs often have to deal with the weight of expectations, whether from the big shoes they have to fill or the fact that they are expected to understand the business model and hit the ground running, especially if they have been with the company for a long time.
But a new CEO often takes a while to get used to their position. As a new CEO, you are better off consciously leaving your old mindset behind. The best way to do this is through a mindset shift you can get from attending forums organized by an entrepreneurs’ organization.
Events like these are planned with business leaders in mind and can help equip new CEOs with the skills they need for their new roles.
Making Tough Decisions
Another issue CEOs struggle with is making tough decisions that can cause them to lose favor with their supporters. When a new CEO emerges, the people who facilitated their emergence may expect some business decisions to go in their favor as a reward.
However, this is not always the case, as sometimes, the best decisions for the company’s growth may not be popular or pleasant. Therefore, Boston entrepreneurs and CEOs must seek diverse opinions to avoid listening to an echo chamber or allies with vested interests.
Confidence is a big issue in the corporate world, but more so for CEOs because the company's fate often rests on their shoulders. When a CEO is confident in their ability to do the job, it trickles down to the rest of the workforce and improves their leadership ratings.
Most CEOs try to fake confidence when speaking with the workforce. However, behind the confident speech and look is often fear and uncertainty. It’s worse because sharing your views with others may cost you a loss of investors and the team’s confidence and respect.
So some CEOs would rather bottle up than discuss their worries with anyone. This is where entrepreneurs' organization forums come in. With such forums, you enjoy the privilege of discussing with seasoned CEOs who are going or have gone through the same challenge and emerged victorious.
It’s an avenue to finally talk with people who truly understand without worrying about being looked down upon or canceled.
Being a CEO is more than the nametag on your office door. It starts from your mind and reflects how you do your work.
The worst thing that can happen is being unsure of yourself, because this insecurity will manifest in indecision and making the wrong moves that will negatively affect your company. Fortunately, there are certain things you can do to develop a CEO mindset. They include:
Communicate your vision for the company with your team.
Prioritize your well-being, as your new responsibilities can be mentally exerting.
Delegate authority, and don’t take on more than you can handle.
Don’t make decisions without consulting the relevant people on your team.
Think ahead, forecast possible situations, and create strategies for how your company will handle them.
Don’t throw in the towel when things go wrong. Instead, have a backup plan and another backup plan.
Look for opportunities in mistakes and learn from them.
Growing a company takes time. So be patient with yourself and your team.
How EO Boston Is Turning the Tide
At its core, EO Boston promotes forums for interested entrepreneurs to harness the limitless possibilities in a support network of like-minded business people. This entrepreneurs' organization brings Boston entrepreneurs together at different local, national, and international events, allowing them to network, learn, and have meaningful conversations with some of the best business leaders in the world.
Out of its hundreds of members are dozens of business founders and renowned experts cut across several industries who know their fields well. By joining an exclusive business community like this in Boston, you can set your business up for transformational growth.
But note that each applicant seeking to join this network is first vetted against specific criteria like having a minimum revenue mark of $1 million because of the exclusive nature of EO Boston.
If your business does not meet the membership requirement, you can start with the EO Boston accelerator program, which accepts applicants making at least $250,000 in yearly revenue.