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I’ve all the time been the sort of entrepreneur who likes to dive right into the nitty-gritty of building a business. In the ’90s, I might be found wearing every hat conceivable, knee-deep in code, and solving internal problems.
The transition from a hands-on entrepreneur to a strategic CEO was no walk in the park. At first, being completely involved in all the things felt normal and exciting. After all, when you’re managing a small team, you have direct control and immediate feedback. This hands-on approach was absolutely crucial in those early days of our company. But as we grew, I realized that being deeply involved in every detail wasn’t sustainable. I had to shift gears from acting to leading.
Many entrepreneurs don’t realize that taking a five-person company and turning it into a fifty-person company by being very hands-on could be taxing and counterproductive. That’s where a lot of individuals stumble—crossing that chasm, as I like to call it. I won’t lie, it took me years to cross that chasm because it’s really vital to find key executives who are competent, who I can trust, and who understand my business. That doesn’t occur overnight. It takes years to cross that chasm—from understanding things and learning how to delegate to developing the right approach to hiring.
Investing in people, not only positions
Building a strong C-suite is like building the foundation of a house. I had to hire people with the right skills and find individuals who could absorb and apply the wealth of information and experience I had accrued over the years. As I transitioned into a more strategic role, I had to focus on effectively transferring that knowledge. Rather than finding someone to fill a position, I focused more on investing in individuals who could grow with the company and take on meaningful responsibilities over the long run.
I have seven directors who now report to me, and it took me a while to get each one up to speed. While some firms have the financial resources to hire a lot of individuals almost immediately, the reality is there is still a lot of information to be imparted. I made it a priority to make sure they understood their specific roles and how their work matches into the broader mission of our modern healthcare software solutions.
Fostering a culture of mentoring for shared success
As we grew from 110 to 200 employees, the challenges of leadership evolved. Our executives are now responsible for hiring and managing their very own teams, which introduces latest levels of complexity. They now have to delegate knowledge to liberate the reins of their people to learn and be relied upon. This ongoing cycle of growth has required our leaders to embrace delegation and trust, reinforcing the concept that leadership is an ever-evolving process. It also shows that leaders are all the time challenged at the next level.
Even now, some of my directors occasionally come to me for advice. For example, one of our directors who manages a team of 40 people often asks for my opinion on strategic decisions or processes. This form of open communication is a healthy a part of leadership and helps maintain organizational cohesion. It’s rewarding to see our directors turn into more confident in their roles, and it underscores the importance of ongoing mentoring and support.
In addition, we recently accomplished a three-month search for a CFO, a key position on our leadership team. This is an vital time for RXNT as we deepen our commitment to strategic financial management during a period of serious growth and change. This role is critical to maintaining our financial health and supporting our ambitions to innovate, expand, and deliver exceptional value to our customers. While this process took a significant period of time, we made sure we were hiring someone who brought excellent financial knowledge and a solid understanding of healthcare technology to the team. Being a team player was also a key checklist item to check off as I wanted to maintain a great team dynamic.
Shaping leadership and innovation
Building a capable leadership team is a rewarding journey that requires thoughtful investment. It will develop your ability to trust others and force you to take motion and focus on strategic initiatives, especially in a dynamic field like healthcare software solutions. It is indeed an opportunity for the leadership team to grow personally and professionally as they proceed to empower others to take the reins and lead the company’s success hand in hand.
As we proceed to grow, I am confident that my senior leadership and the modern solutions our company offers will proceed to drive our organization’s success and have a significant impact on the industry as a whole.