Lessons From a Young CEO

by Mark Stagen September, 20, 2019 Personal Development

Lessons From a Young CEO

Starting a business and building it up into a multimillion-dollar company is anything but easy. There’s no shortage of chances for things to go wrong, ranging all the way from pivotal strategic miscalculations to plain old bad luck. In many cases, startup founders fail to pivot when those obstacles emerge to trip them up, which is why so many companies don’t make it beyond their first few years of existence. Even if a scrappy startup makes it through those early growing pains, it faces new challenges along the way. Many first time CEOs are unprepared for the way their job changes as their company develops over time. They find themselves going from being heavily involved in every key decision, whether that’s figuring out what new features should be included in their game-changing software application or picking which pizza place to order from during a late night rush to meet a launch date, to spending most of their time in meetings and delegating key responsibilities at every turn.

As their teams grow, CEOs transition from being in the “innovative ideas” business to the “managing personalities” business. It can be a major shift for many executives, especially if they’re used to using their task-oriented technical skills more than their people-oriented soft skills. Without some guidance, they may have difficulty letting go of the control they had in the company’s early days and reorienting their thinking to focus more on finding and developing talented people who will help their business grow.

It’s a lot for anyone to handle, even if they have plenty of experience. Now imagine doing it at 20 years old.

That’s what happened to Suhail Doshi, the founder and former CEO of Mixpanel, which he founded at age 20. Over the course of the next ten years, he went from writing code and overseeing every aspect of the business to managing a multimillion dollar organization with 300 employees. Like many first time CEOs, he learned a lot along the way, and he’s shared many of those insights in an autobiographical article with Business Insider.

CHECK OUT THE ARTICLE HERE

One of those lessons was that life at the top of the organizational chart can often be quite lonely. Doshi found that seeking out experienced mentors who understood what he was going through and could offer advice and guidance was extremely helpful as he encountered new challenges. Stories like his are why CEO peer groups continue to be a valuable resource for entrepreneurs and executives alike.

At XLN, we understand that time is your most precious resource. Keeping up to date on the latest trends in the business world can be a difficult task when you’re busy managing your business. That’s why our Resource Center gathers some of the most interesting and useful articles from today’s leading business publications. Spend less time searching and more time learning by subscribing to our blog to find out what’s on the mind of today’s industry thought leaders.


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