7 Things CEOs Should Focus on Every Week
At face value the following principles for CEOs appear rather intuitive. However, they’re not so simple to follow. Regardless of how "big" you've become, following these principles will keep you grounded in running a business. Enjoy!
1. Study Your Business Model: Don’t rest on prior laurels. Many CEOs fall in love with the past and their cozy business models. What made you money in the past will likely become more costly to do with lower revenues in the future. You need to think about cannibalizing your own business model. If you don’t, someone else will do it for you.
2. Follow Trends in Other Industries: Study other categories and markets - you will find innovations you can bring to your sector that will position you ahead of the competition. Get a picture of where the world is going and how you plan to be part of this future. Much of your revenue 2-3 years out will come from areas that didn’t exist a few years ago.
3. Celebrate Successes More: This isn’t done often enough. Companies are often too busy to do so, but it’s important that employees feel something good happened. It builds momentum and it’s good for the soul.
4. Understand the Problems the Company Faces: Most CEOs hope their problems will go away. As a CEO, my fear is “not knowing” all the problems or issues. You need to unlock them in order to collectively attack them. Lead team meetings that encourage tough questions.
5. Don't Isolate Yourself: Too many CEOs are hermetically sealed; they hide in their offices and avoid the company break room. I've found it’s best to listen to real people and find out their needs. If you lose your connection to the people, you eventually lose your way.
6. Reward Execution: Set the bar high and only put people on your leadership team who have audacious goals and an ability to execute. Winning isn’t just based on intelligence and talent. Talk is cheap. Execution always wins.
7. Make Corporate Culture a Priority: You are the Chief Culture Officer - if you abandon the role, it will get filled by the noise of the day. Once it's diluted or damaged, restoring the Culture is very, very hard.
7 Must Do's FOR CEO
