Biggest Challenges Faced By A CEO At Parkside Asset Management
The biggest challenge for Parkside Asset Management's CEO is "growing pains," because growth puts the company in a constant negotiation between its needs and available resources, which can lead to situations like being "too busy" but unable to afford necessary support, with the risk of growing "towards bankruptcy" if not managed well.
Executive/Leadership, Overcoming Challenges, Industry Realities, Workplace Challenges, Candid Advice
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Carl Dumesle
CEO
Parkside Asset Management
University of San Diego
MBA
Business Management & Admin
Real Estate
Business Strategy
International Student, Scholarship Recipient, Took Out Loans, Immigrant, Worked 20+ Hours in School
Video Highlights
1. Growth is a significant challenge for CEOs, requiring careful resource management and strategic planning to avoid overextending the company's financial capabilities.
2. Balancing the need for additional resources (e.g., staff, tools, infrastructure) with the current financial capacity is a recurring challenge, often requiring difficult decisions and trade-offs.
3. Growing too quickly without proper systems and resources can lead to financial instability, highlighting the importance of sustainable and well-managed growth strategies.
Transcript
What is your biggest challenge in your role?
The biggest challenge, and it's ironic, is actually growing. They call it growing pains.
A lot of the things you need to get done are ahead of where you currently are. You can't afford the resources needed to get there, so you're always in a negotiation point or competing against yourself.
For example, you might say, "I'm too busy, I need an assistant or an employee," but your balance sheet can't support that. You're stuck. This happens over and over again as the business grows in multiple areas.
It might be with tools, more computers, server space, or whatever it is. I think growing itself is one of the most challenging things, even though you would imagine it's a good thing. And it is, but to a point.
You can also grow towards bankruptcy if you don't do it well. If you don't set up the systems or have the resources or the sweat equity needed, you might fail.
Advizer Personal Links
Instagram: @carldumesle