Significant Career Lesson From A CEO And Co-Founder At Preciser
Shirley, CEO and Co-Founder at Preciser, learned that a "hundred percent understanding about everything"— encompassing business development, design, product, finance, and fundraising—is crucial for successful leadership, unlike their initial focus solely on data analytics and AI. This realization led to a pivot in their company's projects, highlighting the importance of comprehensive business knowledge before delegating responsibilities.
Executive/Leadership, Data Analysis, Business Development, Fundraising, Overcoming Challenges
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Shirley Chen
CEO and Co-Founder
Preciser
Arizona State University
Arizona State University (ASU) - W. P. Carey
Engineering, IT, Math & Data
Sports & Fitness, Technology
Business Strategy
International Student, Immigrant, Worked 20+ Hours in School
Video Highlights
1. As a CEO, it is crucial to have a deep understanding of every aspect of the business, including areas outside of one's expertise.
2. To succeed as a leader, one must possess comprehensive knowledge of all business facets such as business development, design, product, finance, and fundraising.
3. It is more effective to gain a complete understanding of the business yourself before delegating tasks to others, rather than relying on hiring from the start.
Transcript
What is one lesson that you've learned that has proven significant in your career?
I started precisely two years ago. Between then and now, we pivoted to new projects that we are currently working on.
The reason for the pivot was that I didn't realize that as a founder or CEO, I need to have a deep understanding of every aspect of the business. At that time, I was really good at data analytics and machine AI, and those were the only things I focused on.
Besides that, my understanding was limited. To be a successful leader and succeed in the future, I realized I needed a complete understanding of everything.
For example, I needed to know about business development, design, product, finance, and fundraising. I have to understand every single aspect of the business. I realized I couldn't succeed in the future knowing only partial information.
That's why I hired others to handle the rest for me. However, if I could do it again, I wouldn't. I would learn it myself first before hiring.