Want to be a CEO?

So you do aspire to be a CEO? Good for you. Here is some information which will support you in your endeavour...

Go ahead and devour it. But do remember to ping me when you land up that coveted title. Don't worry, I won't ask you for a fee. I just want to know how many of you benefited! I am a Researcher and a Learner at heart and I need to know so that I can build it in my research.

The Platform

Let's understand the Job and the expectations from a CEO first. Most people can tell that becoming a CEO involves a combination of education, experience, skills, and networking and that the job of a CEO is to provide strategic leadership to the organization, setting the overall direction, the vision for the company, establishing clear goals, objectives, developing and implementing strategies to achieve those goals, building and leading a high-performing team, fostering a positive company culture, and ensuring that the organization is able to attract and retain top talent.

However, this is all meaningless business jargon, if that one thing doesn't happen... that one thing for which a CEO is responsible, but not many Stakeholders are comfortable in openly admitting.

That one thing that matters the most is:

Ensuring that the organization is financially stable (profitable)!

That's it.

Most stakeholders, owners, founders, board of directors, hire a CEO for this one reason! Meeting the needs of customers and stakeholders, ensuring that company is operating in an ethical and responsible manner is all sweetened, diplomatically correct statements that are necessary to make.

Make no mistake, the CEO is supposed to be the ultimate decision-maker for the organization, and must have the ability to provide effective leadership and make sound strategic decisions. This is critical to the success of the company. In fact, a CEO can be rated on multiple factors depending on the industry, company size, and performance expectations. However, one factor that determines the CEO rated as a Hero or a Zero is the overall financial performance of the company.

The CEO's ability to deliver profitable growth, increase revenue, and improve the company's bottom line is the single most critical factor that influences their rating. Other factors that may be considered include:

• strategic vision,
• leadership skills,
• ability to innovate,
• employee satisfaction,
• customer satisfaction,
• corporate social responsibility, and
• adherence to ethical standards.

Ultimately, the rating of a CEO will depend on the specific goals and objectives set by the board of directors and stakeholders. It's also important to note that a CEO's performance ideally would be evaluated over a reasonable period and taking into account factors beyond their control, such as market conditions, regulatory changes, and economic fluctuations. Hence, the CEO does get a good shot at delivering the goods on that one factor that matters the most.

Now that you are aware of the "pressures" and the "expectations" we can jump in to the steps you can take:

The 6 Steps

Here are some steps you can take to increase your chances of becoming a CEO:

1. Education: An appropriate college degree in business or a related field such as finance, accounting, or economics, etc. and an MBA can give you an edge. Eg. of you are a Chemical Engineer with a MBA from #iimbangalore or #iimahmedabad or such, then you have a lucrative foundation to be a CEO in a Chemical manufacturing company. Similarly a degree from #iitbombay or #iitmadras or #iitkharagpur or otherwise helps if your interest lies in leading a Tech firm.

2. Experience: You need to have years of experience in the industry you want to become a CEO in. For that you may work your way up the corporate ladder by starting in entry-level positions and gaining experience in different roles.

3. Leadership skills: CEOs are responsible for managing and leading people. Leadership skill therefore is a non-negotiable. A must have skill. You must know how to build collaboration and manage conflicts. If you think you are born with this skill, then you are mistaken. We humans are not born with some skills. Like riding a bicycle. Any average person can learn to ride it after a few days of practice. But we are not born with it. It is an acquired skill. Similarly, fostering collaboration in people, managing conflicts is an acquired skill. For this you need to build your non-positional power, your ability to work with people minus authority. You may read books and attend Trainings. However, finding and working one-on-one with an Executive Coach is The Most Powerful way to build your Leadership Skill.

4. Network: Building a strong network of relevant contacts in your industry can help you learn about CEO job opportunities. These contacts can help you make valuable connections. But you also need to have a network of contacts which can bring business to the company you are applying in. Remember the one factor that matters most? Don't let your eye off that target!

5. Knowledge: Keep learning. Stay up-to-date with the latest trends and developments in your industry. Attend conferences and workshops, and read industry publications to stay informed. Worldwide, CEO's read an average of 60 books a year! Did you know that? 60 books a year = 5 books a month

How many books do you average?

6. Persistence: Becoming a CEO takes time, effort, and persistence. Be patient and continue to work hard towards your goal.

Remember that becoming a CEO is a highly competitive and an in-demand role. It requires a lot of hard work, dedication, and skill to get there.

One last point... it would help you if you become aware of the qualities that you would be interviewed on.

Qualities you will be interviewed on:

When selecting a CEO, a board typically looks for a range of qualities that will help ensure the success of the organization. Some of the most important qualities include:

1. Leadership skills: A CEO should be able to demonstrate presence of a strong leadership skill and that you have the ability to effectively guide and motivate their team towards the organization's goals.

2. Strategic thinking: The ability to think strategically and plan for the future is a key quality that boards look for in a CEO. You should be able to create and implement a long-term vision for the organization.

3. Industry knowledge and expertise: A CEO should be well informed about the organization, the industry, industry trends, competitors, and regulations.

4. Financial acumen: A CEO should have a strong understanding of financial management, including budgeting, forecasting, and risk management.

5. Communication skills: A CEO should have strong communication skills to effectively communicate with the board, employees, customers, and other stakeholders. Here is a book that you must read: How To TALK LIKE A CEO

6. Integrity and ethics: A CEO should have a high level of integrity and ethical standards to lead by example and maintain the trust of stakeholders. Read this book: Secret to Your Credibility & Respect

7. Adaptability and flexibility: A CEO should be able to adapt to changes in the market and the organization, and be flexible enough to pivot strategies when necessary.

8. Emotional intelligence: A CEO should have emotional intelligence to be able to empathize with employees and customers, and build strong relationships with stakeholders. The best way to build this is by attending Trainings. Click on this link if you want a recommendation on which Training to attend. You may take this 1 hour Udemy course for starts.

9. Results-oriented: A CEO should be results-oriented and able to drive the organization towards achieving its goals and objectives.

10. Cultural fit: A CEO should fit with the culture and values of the organization to ensure a positive work environment and successful leadership. Again here, working with an Executive Coach is the best way to build this ability.

Prepare accordingly.

'Like' this article if it added value to you. Remember to ping me when you do land up that coveted title. Good Luck 🙂

Harish Walavalkar is "India's Most Influential Coach" award, Global Excellence Council 2020 and "Indian Achievers Award" nominee. He also is an Author and an Advisory Board Member in a few organisations. International Coach Federation accredited Academy certified, he coaches people on How to Talk Like a CEO, Leadership Skills, and Building Your Credibility & Respect at Work, etc. Reach him on Email: NeuroStudyCenter