Business Skills That Set Successful CEOs Apart

Leadership concept with a red paper ship leading among yellow ships

Becoming a successful CEO or business leader is about much more than having the right pedigree, charisma, or bank account for the job. The skills that set potential leaders apart are difficult to master. In fact, many CEOs that are forced to retire are not pushed out due to failing performance, but by their chosen leadership style.

As a company leader, there are many skills that CEOs must possess to remain successful. Let’s take a look at a few of those skills below:

Embracing Adaptation
As the leader of a team, you must be able to change the rules and adapt to situations consistently. CEOs who are good at adapting their business needs understand that the bigger picture is critical and that setbacks are a part of change. Being comfortable at adapting to change means accepting failures as a learning opportunity, as opposed to defensive responses, blame, and demotivation. Proactive adaptation is not only the sign of a good leader, but a skill set any company will need to stay successful.

Taking Decisive Action
Any successful CEO must be quick to make decisions. This does not mean they are rash or impetuous, but that they can make decisions with conviction and timeliness. It also means that they are not afraid to make the wrong decision, and can still come to a conclusion with limited scope or incomplete information. Leaders are not expected to make the perfect decision every time, but good leaders stand out in the ability to avoid doubt and come to a conclusion.

In an article for the Harvard Business Review, global managing partner of McKinsey & Company Dominic Barton says, “As a CEO you are constantly faced with situations where a playbook simply cannot exist. You’d better be ready to adapt.”

Reliability
Perhaps an obvious answer, leaders must remain consistent. Setting realistic expectations upfront, a good leader delivers predictable and steady results time after time. to accomplish this, CEOs need to possess considerable organizational and planning skills. A CEO’s time might be spread among various tasks, so tackling them time after time while delivering consistent results is very important. often, this is done most successfully by constructing a leadership team of talented and dedicated employees.

Preparation for the Future
CEOs need to be forward-thinkers. As we have all come to understand in a post-pandemic workplace, what is working for an organization may not work in the future. Good leaders identify potential problems in their organization and address them as soon as they arise. They also engage with their stakeholders to gain support for their future goals.

CEO Solutions is a group dedicated to helping leaders develop their skills by connecting with their peers. We want to help area leaders grow their skills and develop successful businesses. Contact CEO Solutions to learn more.

The Benefits of Professional Development Opportunities for Employees

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Recognizing and addressing skills gaps are hot topics in any professional industry. Most businesses understand that waiting for the perfect employee to come along that checks all the boxes they might want for a position is not always realistic. Other businesses would rather train an existing employee and promote from within than risk the responsibilities of a management role on an outside hire.

Professional development can come in many forms. Some might include off-site workshops or classes, professional memberships, or even tuition reimbursement programs. The goal of a professional development program within an organization is to increase the skills of existing employees and show that the company is invested in their development. Professional development opportunities also improve company morale and help build trust and loyalty.

Increase Retention
According to Career Builder, the average company loses more than $14,000 for every job that says vacant longer than three months. While many companies are cutting costs on onboarding and training, companies that invest in their staff stand out from the crowd. Showing a distinctive interest in the development of your employees shows them that your company is not just interested in filling a position, but developing a career. Investing in personal development gives your team the confidence to want to stay on long-term.

Build Confidence and Creditability
The phrase “Fake it until you make it” likely originated from a person that was not as comfortable in their role as they would have liked. Especially as a new employee starting, it can be difficult to build confidence with feelings of inadequacy. No one wants to feel like they are missing skills in their job. Professional development programs build confidence and set up a system of support for new and long-term employees.

Make Succession Planning Easier
Perhaps the best use of personal development programs is in succession planning. Companies can avoid awkward outside hires by further developing the team members they already have on staff. By working with the workers already in-house, businesses can reduce existing knowledge gaps that are often the culprit of high turnover – especially among outside hires.

Re-energize Your Staff
Even if you do not have a succession plan in your organization, personal development is a great way to keep the team motivated and prevent team burnout. Professional development helps to break up the monotony of everyday work and re-energize staff creativity. Professional development can also help your staff gain a new perspective, which changes how they approach their jobs.

Develop Undiscovered Skills
Development programs can be a new learning opportunity, or they can help your staff learn from others. You might choose programs that help your office stay up-to-date with consistently evolving technologies and processes, or pick programs that best utilize the already existing skills of your staff. As other professionals share their experiences, your staff can pick up new ideas and perspectives. This can lead to greater efficiencies you previously did not recognize for your organization.

Rather than waiting for the perfect employee to come along, we suggest you consider utilizing professional development to build the skill sets you need in your organization. If you are looking for some development ideas for your staff, check out our calendar of events, or contact CEO Solutions to become a member.

How Do You Act and Think Like a Leader?

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What is the process of becoming a leader? Is it developing your strengths to be even stronger? Or is it working on your weaknesses to turn them into strengths? Herminia Ibarra tries to provide insight into becoming a leader in her book, “Act Like a Leader, Think Like a Leader.” Throughout the book, Ibarra offers a unique perspective on leadership and how to become an effective leader. While many leadership books rely on finding insight on what our strengths and weaknesses are, she suggests looking for “outsights.” We can get outsights from new ways of doing work, building relationships and networks, and connecting with and engaging others.

As a reader, you will learn how important it is to learn to act like a leader when stepping into a leadership role. Leaders use innovation and research new trends in their field to ensure they are continually making the best decisions for the organization. Leaders must act on opportunities and learn from what happens to improve continuously. As well as learning, we cannot stay complacent for too long. When we get praised for doing tasks at work, we are likely to keep doing them. However, as a leader, it is crucial to keep growing your skills to become more versatile. Ibarra suggests redefining or reframing your position to take on new tasks that you can learn from.

For leaders, Ibarra also suggests the importance of being more playful with yourself. A lot of leadership books can seem like they are asking you to change your behaviors. However, authenticity is essential for leaders. Try new actions that do not change your authentic self by being more playful and seeing what sticks and what does not. Leaders also do not step into a leadership role once. Many leaders will take on new leadership roles repeatedly, and once you accept that, it makes it easier for you to adapt to your new roles.

The final lesson that Ibarra has for the readers is to create a network outside of your organization. When we try to better ourselves and become a stronger leader, it can be easy to get wrapped up in your usual social network. However, expanding your network outside of your organization can help ensure you reach your goals and receive those “outsights” Ibarra suggests we find. Having a growing social network can help you reach new lengths and achieve bigger and better goals.

Being a leader is hard, and it takes a lot of continual growth. Many leaders feel like they do not have it all figured out or that they never stop learning. If this is how you feel, you should pick up a copy of Ibarra’s book and learn how to find your “outsights.” To build your social network, you can contact CEO Solutions to join our membership and learn from other leaders and hold each other accountable.

How Leaders Can Grow Their Skills Through Performance Assessment

a businesswoman writes in a notebook at a desk

The harsh reality of being a leader is that you have to assess your performance. For many of us, we rely solely on yearly and quarterly reports. However, these reports often have shortcomings and do not paint a complete picture of how we are doing at our job. When we receive a report on how we are doing, we often just do a quick look over and move forward without ever looking back or following up on anything. As a leader or CEO, it is essential to assess your performance and take active steps in becoming a better leader. Luckily, there are several tactics you can use to evaluate your performance and get that valuable feedback.

Do Self-Reflections
To become a stronger leader, we often have to have uncomfortable conversations with ourselves and do some self-reflection. Self-reflections are a step in assessing your performance that has to be done frequently. Many leaders prefer keeping a journal or a document that they can return often. In your journal or document, write down any discoveries you have. Write down how specific projects, meetings, and people make you feel. Having documentation of how daily tasks make us feel allows us to identify patterns in our behavior, which can be changed if we find anything harmful. Make sure you schedule in the time for self-reflection because otherwise, many leaders skip over it. However, reflecting on our actions is one of the best ways to become a better leader.

Ask for Feedback
While quarterly and yearly reports are feedback, it often feels impersonal and is not always helpful. To evaluate yourself as a leader, it is crucial to create opportunities for feedback. You can even start by asking people who are closest to you about how you are doing and asking them for their total honesty. Once you have received their feedback, you can then move onto your general staff. Administering anonymous feedback forms can be helpful. However, it is also vital to encourage input to happen in meetings and the general office. When leaders are open to feedback at all times, it creates a more positive work environment and boosts your credibility as a leader.

Evaluating our performance as leaders is a difficult task to do. However, by doing self-reflection and asking for feedback often, not just yearly or quarterly, you can grow as a leader. Take in the feedback and the discoveries you find through reflections and work on any weaknesses you may encounter while still growing your strengths. If you need further help in assessing yourself as a leader, contact CEO Solutions today.

Empower Those around You as a Leader

Two women look at a laptop together at a desk

As we settle into a new year, it can be easy to get wrapped up in our daily lives’ usual activities. We may have goals we are trying to achieve, deadlines to meet, or we feel like we are just getting by. However, as a leader, it is essential to empower those around you. Empowering your employees, staff, buyers, and anyone you come into contact with can help your company run smoothly and successfully. 2020 had so much uncertainty, which led to low turnover rates for many businesses. Being a leader who can empower others is sure to improve your rates and create a better workplace culture.

There are various ways to empower people, and different techniques work for different people. ASQ defines employee empowerment as, “the ways in which organizations provide their employees with a certain degree of autonomy and control in their day-to-day activities.” Initiating and deploying employee empowerment techniques can be difficult. However, if you follow the following steps, you can create a workplace environment that people feel empowered in.

Ask About Goals

Most people set goals for themselves, especially in the new year. Merely asking your team what their goals are for the year, their career, or even for the week can be a foundational step for empowering them. It sends the message that you care about what they want to achieve. If their goals are work-related, give them the tools they need to succeed. Sometimes the tool is just the information on how to do something, and knowledge can be one of the best ways to empower people.

Lead by Example

If you want to give your team the autonomy and control to do their daily tasks, they first and foremost need to trust and respect you. Work alongside them and try not to assign tasks you have not done yourself. If you know the company’s ins and outs, you can not only show and teach your staff to do the same, but they will also have a sense of trust in you. Once you have successfully trained your employees to do something you’ve done before, you can trust them with the autonomy to do tasks on their own. Leading by example and allowing your employees to work for themselves is a great way to empower them.

There are so many possibilities in the new year. Do not let yourself or your team get behind on their goals. Instead, empower those around you to believe in their abilities and have a better workplace mindset every day they show up. If you need additional training on empowering others, contact CEO Solutions, and we will help you reach your goals.

Strategic Planning for the New Year

A woman holding a black binder reading to a pensive man in a suit

Strategic planning is an essential part of every business. It is the process of documenting and establishing the direction you want to take your organization. One thing separates good leaders from bad ones, and that is following through with your strategic plans. As we look forward to a new year, make sure you know how to set a strategic plan and put it into motion in everything you do as you start 2021.

Collaborate with Others

Working on your strategic plan with your team is the best way to have a successful strategic plan. If your employees feel involved in the decision-making process, they will be more supportive when changes happen. You hired everyone on your staff for a reason, and they are capable of giving you feedback on how things went in previous years. The more inclusive and collaborative your process is, the more support you will have with people outside the business as well.

Know What Your Strategy Is

Once you have successfully collaborated with your team on the strategy, make sure you know what your plan means. Your strategy is the direction you want to take the business in over the year, so think about how you want to market yourself, what you want to invest in, where you want to focus your attention, etc. You should even factor in the negative things that could happen in the year. Unfortunately, you should plan for people to leave, pandemics to set in, and just bad days at the job. If you reach a crisis like most of 2020 was, you’ll have to pivot your business. However, the more realistic the strategy is, the more likely it will be implemented and followed correctly.

Know Your Most Valuable Team Members

When starting your new year as a business, many of your employees will have new goals and aspirations they are trying to achieve. Make sure you know what those are, especially those you want to give more responsibility to. Once you recognize who those valuable members are, let them know of the strategic plan and what priorities they may have to implement it. You might have to rely on those you trust when you need to delegate tasks and mentor them into leadership positions throughout the business.

Planning for the year ahead can be a daunting task, and implementing that plan can be even more challenging. However, by working together, knowing the strategy through and through, and utilizing your most valuable resources, you can be sure to win the year as a CEO. If you need further advice on your strategic plan, contact us today for a second look and real advice from established CEO’s.

How to Effectively Sell your Brand

A businesswoman presenting on a whiteboard to a man at a table in a suit

We’ve all heard that we need to “sell our brand,” but how do you really do that? 2020 has been a challenging year for businesses, and it’s never been more important to sell your brand before selling your product. You could have the best, most innovative product out there. However, if you don’t sell your brand first, no one is going to buy it. When trying to figure out how to sell your brand, follow these tips.

 

Clearly Articulate your Goals

When trying to sell your brand, you must first understand why you are in the business and what you’re doing it for—understanding your why allows you to implement your business goals in ways that are authentic to your company. Authenticity and transparency are so important in today’s day and age. When you understand why, you can choose how to implement your strategies. Selling your brand is more than just having connections. It’s understanding how you want to make those connections and what you want them to look like.

 

Utilize Face-to-Face Interaction

A few years ago, the focus of selling your brand was having an online presence. While that is still essential for any business to stay afloat, face-to-face, whether in person or through a virtual platform, is crucial. Face-to-face interactions rapidly accelerate your trust and rapport amongst customers. With so many articles to read and social media posts to look through, it’s hard for individuals to find the best brand for them. That’s why having interactive face-to-face time is so essential, and it even allows you to get customer feedback right away, which can benefit your products too.

 

Be Innovative

Innovation is a huge buzz word right now, and it is essential for selling your brand. Having unique, innovative ideas allows for your business to have a niche that others don’t. Think outside the box and attract customers that way. Innovation is what keeps many companies afloat. So, go to the drawing board with your employees and think creatively about selling your products in innovative ways.

 

Selling your brand effectively is easier said than done. However, if you articulate your goals, use face-to-face interaction, and be innovative, you are sure to sell your brand to others and ultimately sell your products. If you’re unsure of where to start in selling your brand, contact us today. We have a team of professionals who are trained in selling a brand.

How to Start with WHY to Clearly Implement Your What

The back of a man in a striped sweater who is looking at a bulletin board with lots of papers on it

Have you ever thought about why some people are more successful than others? Why are some people more innovative, influential, and profitable? The author, Simon Sinek, asked these questions too before researching some of the world’s most outstanding leaders to see what they had in common. From Steve Jobs, Martin Luther King Jr., and the Wright Brothers, they all started with why. Sinek’s published book, Start With Why: How Great Leaders Inspire Everyone to Action, explores the importance of knowing your why when it comes to business and leadership.

 

Sinek explains that people don’t buy what you do. They buy into why you do it. Companies like Apple, Harley Davidson, and even Coca-Cola all have major brand loyalty. You won’t see a Coca-Cola lover buy a Pepsi or an Apple lover purchase an Android. These companies, and many others, have found out how to target people with their’ why.’

 

In the book, Sinek offers a framework called The Golden Circle. This circle looks like a target. The center point is your why, the circle surrounding is your how, and your outer ring is the what. Every company and leader should know what they are doing, but you have to figure out why you’re doing it to get on target. By learning how to clearly articulate your why, how, and what, you will create authenticity as a leader and in the company. But how do you figure that out?

 

First, you must articulate your why with clarity. Apple’s why is to “think clearly.” It’s simple but effective because it clearly states why they do what they do. Apple wants to help people to think clearly, and their devices are a huge help in many people’s lives. When trying to think of your why, make sure it fits with what you do and is clearly stated so there is no room for confusion.

 

Once you understand your why, you have to focus on how to implement your why. The how of your leadership or business are the values, principles, and goals of what you do. Sinek believes that knowing your how will give you the ability to stick to what is essential in your leadership. Staying true to how you vow to accomplish your goals is one of the most challenging steps.

 

Finally, once you understand your why and have solidified your how, implementing your what suddenly becomes more straightforward. Stick by your why and how so that your what becomes trusted among those around you. Your what is your services, the products you sell, people you hire, marketing, public relations, and even your office’s culture. Keep reinforcing your why and how in all of those things to build transparency and trust within your workplace. To learn more about your why, how, and what, get a copy of the book. And check out my review of another of his books, The Infinite Game.

 

Everything is Figureoutable: How to Reach Your Goals as a Leader

Everyone, even the most successful leaders, struggles to achieve their goals sometimes. Whether there’s a lack of motivation, no will to begin, or too much going on, we’ve all been there at some point. Luckily, according to Marie Forleo’s book, Everything is Figureoutable: How One Simple Belief Can Help Us Overcome Any Obstacle and Create Unstoppable Success, adopting a mindset that everything can be figured out can help you reach any goal no matter how big or small.

 

The book explores everything from relationships and happiness to success and reaching goals. Forleo provides a nine-step framework to support the mentality that everything is figureoutable and that if you set your mind to something, it can be achieved. In the book she outlines several personal anecdotes about times the steps worked for her and others.

 

To reach that intimidating goal you’ve been thinking long and hard about, you must be willing to try new things, connect with others, and be prepared to do the work. You have to believe that you can achieve your goals because if you can envision something, you can get it done. If you cut out excuses as to why you can’t get something done you can accomplish even more. Your actions are because of yourself and not others and things around you.

 

The book suggests that to accomplish your goals you should clearly define your dream. You don’t want to start any projects before you know what you are trying to accomplish, so define your dream by outlining exactly what your end goal is. If you know what you are aiming for, you’re more likely to hit it.

 

Another thing that gets in many leaders’ way when working toward a huge goal is waiting to be “ready.” The book explains that waiting until you’re ready causes many people to never start. So get ahead of the game because there will never be a good time to begin. Don’t get too caught up in everything you do being perfect. While you want to ensure you complete quality projects, you have to remember that progress is important to every task.

 

Along with several other steps, the final step to adapting an “everything is figureoutable” mindset is to remind yourself that you have something special to offer. As a leader, you have something unique to bring to the table that the world needs. By empowering yourself by believing you are needed, you are more likely to achieve your goals.

 

By adopting the nine steps outlined in the book, all leaders are guaranteed to achieve even the most intimidating goals. Get yourself a copy of the book and shoot for your goals. Remember: don’t make excuses, make progress, and start now.

How to Prepare Your Business for the Future

The business world is continually changing. As a new leader emerging into the world of business, it is crucial to understand what qualities you need to capitalize on to succeed in your career. There have been several publications about the present business world, but with the ever-changing environment, few books have addressed business in the future.

In Jacob Morgan’s book, The Future Leader: 9 Skills and Mindsets to Succeed in the Next Decade, he addresses the ongoing change in the business world and interviewed 140 CEOs and over 14,000 employees. Asking questions like “how is leadership changing andwhy?” and “what should leaders do now to be ready for changes?” the book explores what business leaders can implement to be ready for future business endeavors, challenges, and successes.

While many top business leaders believe that many core aspects of leadership will remain the same, many of Morgan’s interviewees think that there is one way to succeed in the future; by creating a vision and executing it with strategy, future leaders will have the skills and mindset needed to succeed. With intensive research, the book gives the most accurate and recent look on the future of leadership that shares exclusive insights from the world’s top CEOs.

The Future Leader outlines the skills needed to succeed. From learning the most significant trends and how they impact the future of leadership and their implications, to understanding the top skills and mindsets that future leaders will need to possess. While there are nine skills and mindsets outlined in the book, two of the most crucial steps can be summarized as futurize and humanize.

By adopting a futurized mindset or bringing the organization into the future, businesses utilize long-term thinking, adapt to new technology that will inevitably come around, keep up with the pace of change, and move away from the status quo. Businesses can work without technology but could never run without people, so the second important step is to humanize your company. Lead with diverse teams, attract and retain top talent, reskill and upskill employees, and make the organization human to create a work environment that will make employees want to invest in the business.

To learn more about the nine steps you can implement into your business today, read The Future Leader and transform your organization into a future-ready business. This book is an excellent read for you and your team to prepare for its future.