Being at the top position in an office is a dream for every person but there is a reason not everyone reaches that point. The job of being a CEO of any company is a massive task. The Chief Executive Officer is responsible for the business strategy, closing deals, hiring and firing people, dealing with irritated customers and even making sure that every equipment in the office is working properly. Sometimes, the CEO has to go through a day’s worth work before the clock hits 10 AM. As it is such an important responsibility, here are 5 top things you need to learn before you take the job.
1. Learn to say NO
Imagine you are leading a company with 100 employees. Every now and then you come across opportunities that have 60% chance to give your company the boost you have been looking for but, it may harm the finances of the company as well. It is the responsibility of the CEO to analyze and if required, say no to the project no matter how lucrative it looks.
2. Learn to pitch an idea
Opportunities do not always come to you on their own. Sometimes, you may need fetch them. It is important to understand the right time to pitch an idea to a client or an investor. You may need funds to expand your business or you are looking to raise funds to launch a new product. Be it the angel investors or banks, as CEO you must become the hype guy and pitch the idea to them. You should know how to make the product and the company looks good and promising.
3. What’s in the books?
As a CEO one of your responsibilities is to make sure that the books are properly maintained and you should be able to read them whenever required. The language used in the financial reports is a little tricky and without knowledge about how to interpret them in the correct way, you can cause major damage to the company in the long run. Thus, before taking the job, make sure you understand the books and if required take additional classes to learn it.
4. Healthy criticism should always be welcome
Being CEO and having an ego cannot go hand in hand. You should be capable of taking the criticism because there is always someone who will outrank you. As a CEO you should be able to take criticism from the board of directors, clients, press and employees from time to time and see if you need to make any changes for the betterment of the company.
5. Know the process
This is something you cannot learn completely without being on that seat. Before you take the job, make sure that you understand how the previous CEO worked. Learn from his good decisions and worst mistakes. You need to understand it is not going to be a piece of cake. You will be on an unpredictable roller coaster ride where everything will come in the way to mess up your perfect project in hand. It is important not to get panicked and develop contacts at every stage which will come in handy at the time of a disaster. Even on a regular day, you will have to deal with a lot of people who can change the outcome of the day in seconds. Keeping a calm head and the determination to complete the work before the end of the day should be your aim.
Being a CEO is not an easy task. You will meet the juggernaut of constant innumerable responsibilities, the mental pitfalls, and so much more than your anticipated hurdles to surpass, you would have to take it all in your stride and move forward. Just remember that at the end of the day, your job is to inspire and take your company to greater heights and every action of yours has to be the vector to reach that goal.