For most successful business owners, especially those who build their businesses from the ground, the hardest part is to stop being involved in everything. The transition from business owner to CEO is particularly tough for leaders who come from an operational model. Mike Bennett, our guest today, believes that business owners must acquire the CEO mindset for a company to expand and grow. They must dedicate themselves exclusively to CEO tasks and stay as far as they can from day-to-day operations. 

Mike Bennett is an Automotive Management Coach at Automotive Training Institute, a successful Business Owner, and a dear friend. Mike and his wife, Shelle, own Mike’s KARS, a company they bought from Shelle’s parents, who started it back in 1981. Both of them believe deeply in self-development, not only for them but also for their teams. 

In this episode, Mike shares some precious insight about what it means to be a CEO and how hard it is for traditional business owners to transition into having a CEO mindset. We explore the different areas in which business owners should invest to change their mindset, the role of a CEO in an organization, and their responsibilities. We also talk about the importance of setting our company’s strategy, developing and shaping our business values and culture, assembling the right leadership team, and much more. 

Tune in to episode 3 of Maximum Octane and learn everything you need to know about transitioning from business owner to CEO. 

Some Questions I Ask:

• What is the difference between acting and thinking like a business owner and acting and thinking like a CEO? Could you talk a bit about that? (1:53)
• What are some tips that you have for business owners that want to improve themselves? (9:43)
• What’s one unproductive habit that most business owners have? (20:30)

In this episode, you will learn:

• Becoming a CEO is the evolutionary step for business owners (2:03)
• The key pieces of our business we miss as entrepreneurs (6:34)
• The importance of providing structure and direction to our companies (11:18)
• About the primary responsibilities of every CEO (12:39)

Resources

• Mike’s Kars website
• Connect with Mike on LinkedIn
• Book: Jocko Willinck, Leif Babin – Extreme Ownership: How U.S. Navy SEALs Lead and Win