Many companies are founded with innovation, enthusiasm and hopes for success. In its inaugural days, the business founder/CEO is able to personally drive the company's success with a passion while wearing multiple hats and controlling all aspects of the business operations. They understand their market, can effectively communicate their chosen mission to employees and have a good "feel" for their cost and margins.
However, there comes a point where sales grow, new employees are hired and operations expand. All of a sudden, it becomes evident that managing by "feel" is not enough. Founders/CEOs must transition from managing by "feel" to managing by facts as they become accountable for business direction.
This document was originally published by Idaho Statesman. Copyright restrictions may apply. http://www.idahostatesman.com/
Lee, Michael and Gaudioso, Nicholas Jr.. (2013). "Boise State on Business: Companies Must Balance Feelings and Facts". Idaho Statesman, .