What Makes a CEO? The 3 Basic Roles of Every Company’s Top Executive
We’ve all heard the term chief executive officer or CEO, and we’ve all likely been enamoured by one at some point.
In theory, the title should explain itself. As the CEO, you’re basically the top dog of the entire company. People like Tim Cook for Apple, and Jeff Bezos for Amazon are some of the first names to come to mind when we think of what a CEO is and what they look like. It’s these people whose main job it is to make major decisions that determine a company’s futures.
However, what many people don’t know is that even if you’re just the top executive of a small company or business, you’re already a CEO! At the end of the day, the work you do and the work Tim Cook does are essentially the same. This is why you need to treat your business with the respect it deserves and be the best CEO possible.
But how do you do that? By making sure you cover the basics of what a CEO does. Lucky for you, as a CEO myself, I know the three things you need to execute and strive to excel at to take your business further — and they’re already in the name.
C is for Cashflow
It goes without saying that if you’re not making money, you probably shouldn’t be running a business. The inflow and outflow of money aren’t just what determines a company’s success — it’s what defines a company as being alive at all.
As the CEO, you have to make sure that you have the basic financial skills to keep your company running so that at every given moment, it is sure to at least be breaking even.
Of course, not all of us were blessed to have studied business, but this doesn’t have to be a limitation. Money sense can be a skill that you hone. Being good at balancing money can start with something as simple as making sure you have a managed budget for your own daily expenses. Try learning more about budgeting systems and software, and find what works for you and that can be incorporated into your business’ finances.
E is for Expansion
Outside of just keeping cashflow stable, part of the financial literacy needed by CEOs is being able to expand. The hard truth is that companies stagnate or worse, fail when they don’t continually scale or expand, and that’s why your job is to also find ways to keep your company continually growing.
Scaling can take many forms, and it doesn’t have to be as big as companies like Facebook buying small start-ups left and right. It can be things as simple as introducing a new product every so often or widening your reach and increasing engagement on social media. Small improvements add up into bigger positive changes like getting more customers and clients and expanding your brand authority and operational territory to serve more areas. Advancement, whether big or small, is key.
It’s in doing little things each day to be more forward-looking that expansion can come easier to you.
O is for Operations
With the last letter of CEO, I want to bring in the concept of operations.
Running a sustainable business is more than just about amassing money or fulfilling a vision. It’s also about being aware of and understanding the day-to-day processes that come in running and growing your enterprise. This includes tending to administrative duties and making sure that all the logistics are in place.
Many times, businesses fail not because they can’t sell, but because their logistics can’t keep up. And this principle is what drives shipping companies like Amazon, as well as some of the best airline companies in the world like Virgin Airlines, to continue succeeding. They make sure to prioritise customer service and speedy operations, thus keeping customers satisfied and even more coming in.
With this new idea of CEO in mind, you are surely going to conquer your next business endeavours!
Hey future CEO! This video has just the trick to make your name a surefire success story! 3 Roles of a CEO
To your success,
[Visit www.mariosingh.com now to enjoy a FREE e-book of my latest “37 Essential Principles for Massive Success” when you subscribe!]
Originally published at https://mariosingh.com.