There’s no one formula on how to be a good CEO. Succeeding in the job requires putting in the work and effort as well as equipping yourself with all the resources you can lay your hands on. Productivity tips from CEOs who have been there and made it can take you a long way and so can knowing what mistakes to avoid while doing your job to avoid getting in the way of your progress.
As a new CEO, you will likely make unique mistakes of your own along the way, after all, mistakes are part of growth. Still, you have a good chance of doing better than past CEOs if you can learn from their mistakes. Below are 3 mistakes that every CEO should avoid.
Making Decisions on Impulse
CEOs are mandated to make major decisions for the company, so their judgment is heavily relied on for progress. Any lapse in their judgment can, therefore, affect and even alter the course of the company.
An erratic decision can result from a lack of information, too much information, over-optimism, or misinterpretation of the problem. While you have the final say, it doesn’t hurt to consult others, assess risks, predict the impact, and question your intentions before making a company decision.
Doing it All
Being the highest-ranking executive in a company might indicate that you have to oversee every detail of running the company. This might work for some time but productivity tips from CEOs will tell you that you will end up feeling burned out and with no time to do anything else.
This is why learning what and when to delegate is key. You will increase efficiency and productivity, which will consequently increase your revenue. In addition, you will help nurture other leaders, enhance trust between you and your employees, and create more time to dedicate to higher-level responsibilities.
If you are so invested in your work that you hardly have time to eat well, sleep enough, work out, and have fun, then there’s something you are doing wrong. The growth of your company should go hand in hand with your personal growth and self-care features greatly in personal growth.
If you don’t take care of yourself, there won’t be much of you left to offer to the company. If this means regular health checkups, adopting a healthy diet, rescheduling lunch meetings to take a therapeutic walk, or taking time off to reflect and recharge, go for it; you’ve only got one life and one body to offer.
In conclusion, there are many resources to guide you on how to be a good CEO. None of them is a fail-safe formula, but you know what could help? Taking the time to read what other CEOs have done or not done so well. This can help you know where to focus your efforts as well as the pitfalls to avoid in your CEO journey.