As a CEO I have collected little nuggets from the many different experiences, conferences, seminars I’ve attended and from life in general. It’s important to revisit them on a regular basis or else they fade and lose their front-of-mind value.
As CEO, we all know the fire of the take away from a really good class or seminar. We can’t wait to get back to work to implement. Maybe some do, maybe some don’t.
I’ve found that if I don’t keep my list up to date, and more importantly, under my glass desktop where I see it every day, I fail to implement 80% of the valuable lessons I’ve picked up from others smarter than me.
This is my current list of CEO Pointers:
- Education, support, credentials
Without education and proper training people are fish trying to swim upstream. The CEO needs to support all actions that can help everyone achieve and succeed to obtain the credentials that are necessary for success in their jobs and lives. This has to be on personal and professional levels.
- Referee + recognition
People will disagree and even fight from time to time. The CEO is the chief referee, negotiator, and arbiter of senior skirmishes. He/she is also the acknowledger-in-chief. All people need to be recognized for their accomplishments, efforts, and initiatives.
- Elevate thought processes
You can no longer be a bottom-up thinker. You must rise to a higher plain in thinking for the organization, the people, the money, the future.
- See a bigger picture
As your thought processes improve, you will develop a much broader view of how things fit and work together to produce outcomes.
- Articulate bigger issues
You must learn to refine the use of language and make points that are powerful and commanding. The CEO must speak with authority that comes from experience on the bigger stage.
- Financial strength – build capital
You can no longer be a day-to-day finance watcher. The CEO must roll up sleeves, learn, and change the current ratios to strengthen the company’s foundation.
- Consolidation + mergers
Many industries have had to consolidate to survive. The results can be stronger because mergers can generate additional opportunities to provide different services and products. One caveat – exercise caution no matter which side you find yourself.
- Trends and changes
CEOs must be aware of the external and internal trends and changes that are taking place or will happen. They must be understood, addressed and reacted to for strength.
- Healthcare – pay penalty or pay policy
The coming changes are not known and must be investigated fully, or disaster will strike. CEOs must be proactive — the downside can be a very steep and slippery slope.
- Regulations are a fact of life
You should not shrink from regulations, but embrace them as a fact-of-business-life.
100% compliance should always be the goal. It enhances the company’s reputation as a good citizen.
- Reputation building
Your personal reputation and the reputation of the company are of prime importance.
It’s much easier to maintain a good reputation than fix a damaged one.
- Diverse services and products
It’s important to continually offer more products and service in response to the market. You can’t have a myopic view of your company, just because of the current situation. You must look for opportunities to spread out and capture a stronger share of each customer’s potential.
- Goals relating to balance sheet
Decisions can’t be made in a vacuum. The monetary impact of decisions, trends and changes must be understood. Plans and goals must focus on the overall impact on the company’s strength and success.
I’d be happy to include additional points. If you’ve collected any real good ones, please send them to me I’m always ready to learn from my fellow business owners and CEOs.