Being a CEO or business owner isn’t about making big decisions from a corner office. It’s about setting the vision and building a business that thrives with or without you. Whether you own a mom-and-pop, found a startup, or are CEO of a Fortune 500 company, the job boils down to these few core responsibilities.
1. Set and Communicate the Vision
Great leaders ensure their companies operate with a clear sense of purpose. A CEO’s job is to define that purpose, set long-term direction, and communicate it relentlessly. Setting a direction means embracing new ideas, adapting to an evolving business context, and identifying patterns from a broad range of inputs. It involves broad-based thinking and a willingness to take calculated risks. The output is a compelling vision and roadmap that describe why the business exists and what it should become. They focus efforts on the most critical activities.
2. Create a High Performing Culture
CEOs build values that guide action, align work, and motivate people. They ensure the business operates according to its values. They align work so that people across all levels work toward the same future and feel empowered to help drive the vision forward. It requires creating a clear vision, building informal relationships, and creating ways to resolve conflicts among subordinates, bosses, peers, and external players such as suppliers, regulatory authorities, and customers. They motivate people and energize their teams by making goals personally relevant, involving others in decisions, providing constructive feedback, and consistently recognizing and rewarding the right behaviors. When employees understand their purpose, know how they contribute to the vision, and feel valued and empowered, their culture allows them to push through challenges and contribute at a high level.
3. Build Key Relationships
CEOs are the face of the business. Whether talking to investors, partners, customers, regulators, or employees, they represent the business to the world. Strong leaders inspire confidence, tell compelling stories, and build relationships that help the company grow and accomplish its vision.
4. Ensure Great Execution
CEOs must ensure that priorities are clear, teams are aligned, and obstacles are removed. Great CEOs spend significant time recruiting, coaching, and fostering a culture of accountability and high performance. They act as the ultimate problem-solver and arbitrator, ensuring the best results by having the right leadership team members who have the resources and skills needed to deliver success.
5. Ensure Longevity
CEOs set financial goals, ensure regulatory compliance, and manage risk and oversight to support the vision and ensure business longevity. No matter how great your vision, cash flow is king. They must know their numbers well enough to ensure healthy revenue streams and raise capital when needed.
6. Scale Yourself
The best CEOs recognize that their role evolves as the company grows. What worked at 10 employees won’t work at 100, and what works at 1,000 requires an entirely new approach. Responsibilities can be delegated, but final accountability in these areas stays with the CEO. Great leaders embrace disciplined thought and action, constantly improving themselves and others to meet the needs of the business.
If you’re a chief executive—or aspiring to be one—focus on these core responsibilities, and you’ll set yourself and your company up for long-term success.
How would you modify this list?
Explore more in these related articles: Build in Leadership and Management, and A Closer Look at Leading and Managing.
Adventure humbly while living boldly.
Jon Strickler, Vistage Chair & Executive Team Coach
Find me at: 720 323 0793, jon.strickler@VistageChair.com, Twitter: @HorizonLineGp, LinkedIn: www.linkedin.com/in/jonst, Website: HorizonLineGroup.com
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