A successful CEO does these three things

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This article has been translated from our English edition.

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A successful CEO does these three things
A successful CEO does these three things

What are the three main roles of a CEO? Simply, I’ve said since I was CEO: 1) systems, 2) structure, and 3) scalability. Simply put, the CEO refines the product and process that enables the business to exist (“nails it”) and then makes the outcome sustainable and scalable to meet the company’s goals (“scales it”).

I have argued that failure occurs when we lose our focus on these primary goals.

But this year I got a new perspective from Trey Taylor, J.D., author of “A CEO only does three things“. Taylor offers Coaching Executive and strategic planning for executives from C suite through your advice, Trinity Blueand is a partner in several private equity firms.

I met Taylor in early 2020 through the Advanced Masterminds Group’s Advisory Board. When the pandemic broke out, he immediately took a step forward in the group members’ daily morning strategy calls to determine the path. The funding and strategic paths to follow in the next adventures of 2020. The process was unbearable for everyone, but many achieved a new level of earnings in a year like no other.

Culture, people and numbers are the focal points that ensure your success

Taylor argues that the three key areas managers must master today and forever are:

Everything we need is covered by mastering these three main goals. What does that mean for us now?

“Culture eats strategy for breakfast”

We all talked about the virtues of culture in statements like Peter Drucker’s famous observation, “Culture Eats Strategy for Breakfast”. But what exactly is culture?

According to Taylor, aligning your corporate culture with the underlying shared values ​​of your employees is an essential and challenging requirement. And if you do, it will be your most important competitive advantage.

In simple terms, culture is the ethical environment, beliefs, traditions and rituals that bind us together. Each group creates a culture: A summary of what the group believes is the right course of action towards others, based on shared beliefs.

Culture exists, believe it or not, and it generally falls into one of two buckets, says Taylor in his book.

They are 1) the lowest common denominator that is and is unplanned Ad hoc. This culture tends to put their clients last and falls by default on the decisions of the people responsible for running a particular program.

Or 2) an intentional culture, defined by the CEO and leadership in a way that is not only written down but also conveyed in the form of shared values, commitments, and goals that are to some extent embedded in a company’s people which they don’t just stick to the corporate culture.

It is important for any CEO that working to create a vibrant culture is the first and highest priority for the company’s complete success.

The right people are your greatest asset

Hand in hand with the priority of culture are people. One of the CEO’s biggest challenges is choosing the right people to grow their business in a culture where they can thrive. Choosing the right people is the express job of the CEO and cannot be delegated, says Taylor in his book, because people are more important than any other variable.

It is important to highlight the importance of the thinking, intellectual, and skills of each candidate with the skills of emotional and emotional maturity.

Beyond abilities and skills, consider the third dimension: “I am”

Taylor advocates a third dimension of ability, which he calls the “I am” dimension of the creative unconscious, which houses our beliefs, self-image, and sense of right and wrong. Our goal is connected to this element. When our goal is clear, we channel huge amounts of spiritual energy. And when we’re on a mission, we no longer have to drag and persuade reluctant workers. They are motivated by their own sense of identity and purpose and allow the CEO to continue to focus on the highest potential and needs of the company.

It is for this reason that many organizations that have faced the challenges of the COVID-19 pandemic have taken such extremes to protect the roles of their employees that they rightly recognized as the company’s greatest treasure.

Be careful with the numbers (correct)

The ability to lead by numbers may seem obvious, but it’s the surprising Achilles heel of many organizations today. Taylor quotes professional entrepreneur Marcus Lemonis as saying, “If you don’t know your numbers, you don’t know your business.”

As an example, we can count any number of companies that have failed while their executives felt that everything was OK. It goes without saying that CEOs must always protect the ability to access sufficient funds to support their next steps.

How many companies in solar or other fast growing sectors have mistakenly spent so much money making sales and paying commissions on late orders, and having cash problems in their ability to satisfy in the middle of “good news” and die in the end ? “?

Monitoring and sharing the right data will empower your team

By sharing the right data, your employees can see the impact of their work on the overall business. In this process, it is important to ensure that the KPIs (Key Performance Indicators) you are monitoring are the correct numbers that show participants the expectations and impact of their daily work. By sharing common KPIs with a team or company, your creative energy can reach unimaginable levels.

For example, Taylor tells the story in his Pixable book, which set the goal of increasing ad revenue by 700% without producing any additional content. To achieve this, the company hired four data scientists who, within 30 days, found that people were spending more time on the site, sharing important data, sharing material more widely with other professionals, and even information in their social Life broader presented media. “Time on site” became the most important measured variable. With this knowledge, the sales team was able to customize their “time on site” case studies for specific vertical markets. Productivity (and profitability) soared.

“In almost every company I work with, we uncover hidden opportunities in the data,” says Taylor in his book. “The Pixable story is not an anomaly, but it is rare in the sense that few executives take the time to fully understand how their business works, and even fewer share full access to that knowledge with their teams.”

Imagine what you might discover as you examine your company’s most important data. What do customers value most? Where do your employees spend the most time and the most expensive resources? Are investments and results coordinated?

In general, your path to growth in 2021 and each year is to focus on just three things: culture, people, and numbers. In any business climate, you will drive your success.

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