Before anything, here is a shocking statistic about CEOs- Only 14% of CEOs have the leadership talent they need to grow their businesses. While this part may seem alarming to any budding CEO or leader out there, there is a way to fix this, which I will explain later on. Now, getting back to the topic.
How to become a successful CEO?
A CEO is the most valuable and highest-ranking asset of an organization. As the job description sounds easy, it is the most challenging job in the world. Imagine being the face of a million-dollar company and making decisions on behalf of tens of thousands of employees that could decide the future of everybody in the company. Your verdict determines the growth graph.
Sounds a bit like a task, right? But with the proper set of acquired skills and experience, you could be a role model like the famous revolutionary CEOs like Ratan Tata, Bill Gates, Elon Musk and Steve Jobs for the thousands of lives that will be dependent on your decisions.
Here are a few tips to power your journey towards being a successful CEO: Maybe I’ll be writing an article on you later, because this post will spiral you into the right direction.
Simple and the easiest way: Start your own venture. No kidding! With the opportunities available right now, with the right plan and ideas, you could get funding and start your own venture. But that doesn’t mean you will be a successful CEO. Going around in circles right?
Let’s cut to the chase and get to the point! No matter if you start your own venture or if someone hands over their reigns to you, here are some specific skills you need to possess before you take up the driver’s seat.
Education and upskilling
While many may say that you do not need education to be successful, statistics has its say otherwise. Just over half of Fortune 100 CEOs have a degree in business, economics, or accounting, while 27% studied engineering or science and 14% law. It does not mean you will have to burn your midnight oil, sit in for the entrance exams and get into top universities. A regular degree from a good university would do the work for you.
Also, you will need to upskill based on the dynamic industry and trends and there are programmes out there, like the Future Leaders Programme by NUS Business School, delivered in collaboration with Great Learning, that gives aspirants a scientific-oriented approach to deal with leadership positions.
Now with the technical part being addressed let's get into some personal characteristics, you would need to possess to walk the path of the greats.
Communication
Every employee is different. And as a leader, you must know how to appropriately communicate with your team. It includes face-to-face interactions as well as grammar, structure, style, and tone of emails and online communications. And the reason I’m saying this is because- 52% of employees said that poor communication leads to higher stress levels, and 44% of employees reported poor communication causes failure in completing their projects.
And there your answer is!
Think BIG!
Expose yourself to as many areas of the business as possible so you can start understanding how the different departments fit into the big picture. Focus on the bigger picture to see where you want your organization to be and if the things you are doing now are going to reflect the same.
Listening
As much as you communicate, you will have to listen to your employees. Effective leaders brainstorm ideas from everybody and use even the smallest of inputs from their team.
Build effective connections with industry leaders
Knowing the market is as vital as building a product. Connecting with distinguished leaders will give you deeper insights and vision about the industry and will help you make informed decisions as to how to grow your business.
If you are not utilizing this factor, it will be like diving from an airplane without a parachute.
While the listed are just a few of the factors, there is a long list of do’s and don'ts that can make your leadership journey easier and less stressful. But how would someone know that? Look out for scientifically-designed courses that help you gain future-ready skills like the one listed above in the article.
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