WHAT MAKES A GREAT CEO
As a business owner we take on many roles one being the CEO or Chief Executive Officer. You may have another title like Founder, Principal, Managing Director or you might have two like I do either way all titles lead to the responsibility of the business owner who runs their business and yes that us. So what makes a great CEO and how can we ensure we are a great CEO?
Lets first pull apart why we are even asking this question whatever your title if your the business owner and your making decisions, creating and signing off on policies then you are driving the business in a particular direction, this means you have a strategy and a plan to implement or maybe your winging it until you grow a little more either way your internal team, your suppliers and your customers are with your business because of what you have created and offer, because of what you stand for. How awesome is that?
Take a moment to understand the impact you have on others and the ripple effect; now take a breath and consider this; if you make a big mistake the impact is not just on you. How can you honor your team, your suppliers and your customers - today we are focusing on being a great CEO, someone who continues to lead and direct your business in the right way.
So what are the attributes of a great CEO? Here are the key ones for those of us that are looking to take our businesses to another level.
- Vision: Successful CEOs have a clear vision of where they want to take their business and are able to communicate it effectively to their team.
- Adaptability: They are able to adapt to changing market conditions, industry trends, and consumer preferences.
- Strategic thinking: Successful CEOs are able to think strategically and make decisions that are in the best long-term interests of the company.
- Strong leadership skills: They are able to lead and motivate their team to achieve the company's goals.
- Financial acumen: Successful CEOs have a strong understanding of finance and are able to manage the company's finances effectively.
- Customer focus: They are customer-centric and are able to deliver products and services that meet the needs and wants of their customers.
- Innovation: Successful CEOs are constantly looking for new and innovative ways to improve their products, services, and processes.
- Persistence: They have a high level of persistence and are willing to persevere through challenges and setbacks.
- Time management: They are able to manage their time effectively and prioritize tasks that are critical to the success of the business.
- Continuous learning: Successful CEOs are committed to continuous learning and self-improvement, and they are always looking for ways to improve themselves and their business.
Did you notice that these attributes don’t have a bias nor do they factor in diversity because there is no inherent difference between males and females when it comes to building a successful business. Both genders can possess the necessary attributes and skills to become successful entrepreneurs.
There may be external factors that influence the success of female entrepreneurs. We don’t need studies to tell us that women face unique challenges in the business world, such as gender bias, lack of access to funding and capital, and difficulty in balancing work and family responsibilities.
Despite these challenges, many women have successfully built and led thriving businesses. In fact, research has shown over and over that companies with a more diverse leadership team, including gender diversity, tend to perform better and have higher financial returns.
Therefore, while there may not be inherent differences between male and female entrepreneurs, there are certainly external factors that can impact their success. It is important to create an inclusive and supportive environment for all entrepreneurs, regardless of gender, to enable them to thrive and succeed.
So what is the answer to the question of what makes a great CEO? The answer I think is you!
YOU own the big picture
We can list all the attributes in the world but in the end it's about you. You're a business owner with purpose and vision, you with your commitment to your team, you who support whole ecosystems through your customer base and your team. Sure you may need to work on some of those attributes listed above and you will, in the meantime understand where you excel and where you're not as strong, understand you and it will strengthen your decision making.
Did you see a pattern with these 10 Attributes?
I can see that they each support at least one other attribute that then supports another. It seems to loop back and stay connected so it doesn’t really stop.
For example with strong strategic thinking you would have a clear vision with a clear vision that aids strong leadership skills.
Can you see what I mean?
Have another look at that list, consider which ones you do really well and see where they connect with other attributes.
Have another look at the list of attributes above:
- Consider which ones you do well and see where they connect with other attributes.
- Do you need further learning to master what you're already good at, what could you do to develop in this area?
- Now consider which ones you don’t do as well. Look where they connect with other attributes.
- Choose one of these attributes and work on getting better at it.
- What do you need to do to get better in this area, create a plan
- Book a training session
- Read a book on the subject
- Speak with your peers
- Review every 6 months. You may also want to group the attributes so you can feel comfortable about which ones your working on
Until next time. Stay fabulous!
CEO and Managing Partner