Whether you’re a CEO now or hope to be one in the future, keeping these eight tasks at the top of your mind can help you succeed.
A company’s vision has to come from the top—that is, the CEO. A good way to think of vision is in terms of purpose. An effective leader will make the company’s purpose clear. To that end, Inc.com contributor David Finkel recommends sharing your vision as a means of motivating employees.
It’s up to leaders to build external and internal relationships. You need to be present within your company to forge bonds between employees, and you also need to seek out alliances with peers outside the company.
Build and Improve the Workforce
In smaller companies, a CEO might have a direct hand in hiring even entry-level employees. In larger companies, you may hire or promote only upper-level executives. Either way, you must choose the right people and set them up to succeed.
Keep the Company Humming
A good executive figures out what the company needs to succeed and acts on it. For instance, if outdated technology is holding part of the company back, an effective leader will find a way to upgrade it.
A CEO should keep a watchful eye on a company’s finances. That means continually monitoring factors like cost per sale, cash flow, and debt.
Look for New Opportunities
A good business leader never stops being an entrepreneur—that is, someone who identifies and seeks new opportunities. Continually look for new paths for your business to explore.
Ask for Feedback
Soliciting feedback is one of the best ways a CEO can both improve morale and find out what a company needs to improve. Encourage candid feedback and act on it.
Set the Example
To lead a company well, a CEO must act with integrity. Behave the way you want your employees to behave, and eliminate behaviors you don’t want them to emulate.
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