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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.

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This document was originally published by Idaho Statesman. Copyright restrictions may apply.