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Podcast Summary:
Joel Trammell, Founder & CEO of Khorus and a VERY experienced Founding CEO of two previous companies, took time out of his busy schedule to share some amazing insights about CEO decision-making. In this interview, he shares additional details about a key chapter in his book (The CEO Tightrope: How to Master the Balancing Act of a Successful CEO), “Deciding versus Building Consensus.” If you struggle with the challenges of CEO decision-making, you’ll want to listen to Joel’s wise insights.
Name: Joel Trammell, Founder & CEO
Company: Khorus
Powerful Promise of Value: Khorus gives CEOs a central place for running their business.
Headquartered In: Austin, Texas
His Book: The CEO Tightrope: How to Master the Balancing Act of a Successful CEO (Joel Trammell)
Key Interview Points:
- “Consensus can be valuable, but it is not always possible.”
- “You can’t always expect everybody in your organization to get to your vision as quickly as you did.”
- “Sometimes you have to say, no, I know that’s where we need to go.”
- “The CEO is ultimately responsible for making the decision.”
- “You need to make the decision when you have 70% of the information available, not 100%.”
- “When you do a startup, it’s like sand in an hour glass, you only have so much time to get product/market fit, you only have so much money, so much resources…”
- “…any decisions that are above the water line…that aren’t going to sink the ship…I want those decisions made by other people in the organization…”
- “When somebody brings you a problem, the first question you have to ask is…should I be making this decision?”
- “Hiring is the most critical thing.”
- “If you do hiring well, it makes every other part of the CEO job much, much easier.”
- From Joel’s Book: “Admitting you were wrong and moving on will allow you to maintain credibility with your team.”
- “If you don’t have that self-awareness, it’s very hard to get better as a CEO.”
Contacts: [email protected], www.khorus.com
