What Makes a Successful CEO?

It takes more than just the right qualifications to be a successful leader of a company. Read on as we what it takes to become a successful CEO.

There are approximately 200,480 people occupying CEO positions in the United States. In the past 10 years, this has dropped by an average of around 50,000. So how do you rise to the top in an increasingly competitive market?

The Importance of Education

Formal education is essential to success as a CEO. It is hard to find a CEO in a modern business that does not have a bachelor’s degree at the least. It helps if this is in a field related to the industry you are working in, though it is not always essential dependent on your experience and previous occupations.

Many will also have an MBA from a business school. If you don’t, then you shouldn’t assume they are something you can only get at the start of your career. Degree courses are more flexible than ever and can even be done part-time or online if you want to conduct one alongside your working day.

However, formal education is not the be-all and end-all. The best CEOs will strive to educate themselves in the world of business. Make sure you read and are always willing to absorb the news and new information. 

Long Term Growth with the Right Company

While there is some fluidity in companies you work for, many organizations build their leaders and future CEOs from the bottom up. If you know the type of company or organization you want to work for, it may help to secure a position early. When people watch you grow in their company, they will have more of a vested interest.  

This does require knowing what field you may want to work in, and predicting ones that have long-term growth strategies. If you are choosing something wide-reaching, like tech or entertainment, try to narrow it down to a niche. For example, the iGaming sector is one that has grown massively over the past few years. This has been down to the use of incentives for new customers, such as free spins no deposit bonuses, but also through improving its transparency and game quality. None of this would be possible without visionary CEO’s who predicted the rise of the sector long term. 

Communication and Leadership Skills

Some people find that communication skills come naturally. They have the personal to get their vision and ideas across with ease and will fit into a CEO position with ease.

For others, communication skills are hard work. If you are one of these people, then you must work on communication skills as you would any other aspect of your portfolio. While you won’t get a certificate or degree upon completion, poor communication skills will stop you from rising up the ladder.

Just like communication, leadership skills are something that needs to be worked on. This growth should begin long before you even start applying for a CEO job.

All of this comes back to education. Read up on what makes a great leader and how this manifests in the workplace. Put it into practice with smaller roles, increasing and improving your skills as you move up the company hierarchy.

One excellent tip for leadership is to become a servant leader. When you go above and beyond for those working around you, they will view you as someone they want to follow. 

Building Teams Around a CEO

The leader of a company is only as good as those around him. This means you need to know how to get excellent talent and workers behind you. As you progress through your career, this is something you should be working on in every position you hold.

Team members need to be the best at what they do. Use a blend of personalities and skill sets that sync together perfectly. While it may take some time and interpersonal conflict, eventually, you will have the backing you need to achieve your goals.

Building a Public Persona

There are more ways than ever to build a public persona and market your skills. LinkedIn is the first place you should start. Make sure you build a network, post regularly, and create content for the platform.

Giving a TEDx talk, or public speaking are a good idea, as not only do they improve your communication skills, but it can position you as an expert in your industry. When you give a talk, you become an authority figure on that topic. People will want to hire you or work with you.

Customers and consumers are becoming more socially conscious. They want to know what the mission of a company is, how they operate and where your business sits in the wider picture. As the CEO, you should embody everything your company claims they stand for.

Look beyond money and see what issues you are passionate about. Find companies that align with the goals and work towards positions in that organization. Be patient and flexible, and once you find success, the money will follow.