It’s nearly impossible to build a business without hardcore passion for what you do. Al Subbloie, serial entrepreneur and CEO of Budderfly, joins Edison Partners Managing Partner Chris Sugden to discuss what it takes for modern CEOs to build and lead great companies.
How the role of CEO has shifted since the pandemic
“As CEO, you lead and you do,” Al advises. CEOs should lead by example.
The importance of “being in the field” has increased as remote work has become the norm across America. Al suggests CEOs remain focused and motivated on the company vision with:
- Frequent updates from the top – When your employees can’t physically see you, it’s important to remind them you’re still bought-in and focused
- Lighten up on location and in-office presence – Remote work is here to stay
- Motivation is key – You must motivate your people to do great work
- No rules for sake of rules – Be thoughtful about the policies you put in place
3 things CEOs need to do well to build & lead a successful company
The role of CEO has shifted since the pandemic. But Al says these 3 principles remain true:
- Define a meaningful & relevant value proposition. Entrepreneurs should aim for being #1 in a given space, either being a category creator or dominating said category. Al advises that competing as another big player in a crowded industry is "a terrible place to play."
- Execute better than anyone. Understand your business, measure what you want to manage, be accountable.
- Lead with a cohesive vision for the future. Al quotes, “You can’t build a great culture without huge passion for what you do.” The role of passion in building and leading a winning company is critical.
The board of advisors create company discipline, but it's the CEO's job to maintain genuine relationships with their team to leverage their outside perspectives.
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