How can a CEO redisover his/her role and reposition?

Whatever it is, a CEO represents the highest ranking official executive of an organization. There are some things that have not changed over time when it comes to their responsibilities. They are:

• Stand up and own things w.r.to their organizations
• Lead, direct and execute at a high level
• Set up the vision and spell out the core principles
• Understand the market, company’s position and competitors.

In today’s context of a well-established start-up eco-system, companies spring up freely. On the shoulders of the young CEOs, are stacked heaps of responsibilities. These, coupled with expectations from shareholders and market, can pull the CEOs in multiple directions and push them into an abyss. Digital ways and abundance of technology are to be accorded respect and negotiated.

What are the areas to watch out for the CEOs?

• Do not deviate from the core principles. An organization has something in its DNA. The DNA can be adapted but not completely mutated. Stick to the DNA. It is the CEO’s responsibility to fit the pieces of vision, mission, direction value, core principles, strategy etc. Your speech and actions must communicate this unswerving faith in your DNA. JPMorgan Chase stands by “Exceptional Client Service and Operational Excellence.”

• You can be successful both ways i.e. you can choose to be the public face of the company or stay behind the scenes. It is not necessary for every CEO to be like Mark Zuckerberg! Many CEOs have quietly gone about their work in the background shunning publicity.

• Markets and the investors can be unforgiving. They are quick to pounce on you and pass judgement. It is said that many CEOs live quarter to quarter! This is where your vision, your demands from the key shareholders and board and your bringing together the elements can help you navigate smoothly. Guidances and interaction with public should be managed effectively.

• Focus on learning, skilling, reskilling and development continuously. Fall in love with your employees first. The erstwhile CEO of HCL Technologies Mr Vineet Nayar practised this and shared his experiment in a book titled “Employees First and Customer Second.” Many companies like GM, Dunkin’ Donuts promoted their HR leaders into CEO positions. This is generally unheard of where it is commonplace to think of CEOs from marketing or finance. Spending time on building a dream team is the most daunting task of a CEO. One of Udemy’s (a MOOC provider) advertisements says that 42% of employees consider learning and development as a key factor before taking up a job.

• Quit acting like a COO. Many CEOs find pleasure staying in their cabins throughout the day, conducting internal reviews, pouring over the operation records with a magnifying glass and coming out with possible cost cutting measures. Does this sound familiar? If a CEO’s time goes more into the above activities, the organization has a massive problem. A CEO, who doesn’t revel in building business networks with its key customers, vendors and suppliers, will not add much value. The CEO cannot succeed in all but one who doesn’t even try stands little chance of chartering his organization. Many sales teams, out of compulsion, take their CEOs to a meeting that is moving towards closure. Some do out of compulsion knowing very well that there is no incremental value coming out from the CEOs. Some others do not hesitate to reach out to their CEOs and use their time wisely in specific areas! A CEO can lose a deal but not the value arising out of the associated network!

• When you move from an entrepreneur of a start-up to a CEO as your company grows in size, remember to reposition. This involves giving up certain responsibilities and learning to take additional things. For example, you can no longer be involved in all decisions of the organization like painting on the wall to hiring every employee. You may no longer remember every one’s name. Don’t be surprised if you get a LinkedIn request from a seemingly unknown person who happens to work in your company. Similarly, you may not be the one involved in meeting all your clients. Learn to give up in order to grow. Think of the movie “The Intern” starring Anne Hathaway and Robert De Niro.

• Finally, the CEO should aspire to be the CMO (Chief Motivational Officer)! 

Here is one metric that can be applied to the CEOs from whom you want to learn a few things. Every CEO may be part of many conferences and meetings. Take the WEF (World Economic Forum) for example. It is not uncommon for many unheard of CEOs buying space there and setting up a stall. Instead, find out how many leading universities have invited the CEO to deliver their valedictory or convocation address. There is something in that! Standing up before graduates and having the guts to share some life lessons means something. And the icing on the cake is that such invitations cannot be bought easily. Leave it to the universities to do the due diligence and you enjoy learning from their choice!