01 Jul What a CEO does (enhanced)
I have had a lot of feedback since I posted about “What a CEO does!”
Sure a lot of you, who have worked for me over the years sent back the word “nothing”, but given we have been highly successful in our endeavours I will take the feedback as a compliment.
However on a serious note I will update you all on the words of advice I have received on each of the three responsibilities that I listed.
- Setting vision and strategy are key – but in order to do that, the CEO must remember the principle of NIHITO (Nothing Interesting Happens in the Office) and must spend time in market. This involves getting to know your customers, competitors, industry and channel partners.
- Recruiting and retaining top talent – A CEO has to be involved in as much of the process as they can. If you do not want to be at the forefront of every employ, then make sure you have coached your delegate accordingly. When it comes to retention, the best advice I received was to treat all staff as if they are also running the company. Suggestions to do this involved sharing monthly results, board reports and Q and A sessions with groups of employees in attempting to solve day to day issues.
- Making sure there is enough cash in the bank – managing and sharing a handful of key financial metrics in concert with each other was the best advice.
I also received some other general advice such as don’t be a bottleneck, run great meetings and keep yourself fresh.
Good advice and thanks for the feedback.