The 28 Most Valuable Lessons I Learned As a CEO


As a CEO…
1. Decide whether you want to be a
creative leader who takes some calculated risks or a manager who maintains the
status quo. Once you decide that, don’t allow your organization to be diverted
by any undertaking that is foreign to their expertise or that will not further
the mission of the business. Stay focused!

2
. Make short notes on the

highlights of your daily
life – personal and business – sometime in the future you will appreciate
having done so.

3. Ask “Why?” A
critical word to use whenever someone denies a request or asks you to do
something that seems to be unnecessary or inappropriate.

4. When you
receive a significant “offer” or “proposal”, whether for yourself or the
business, try not to accept or reject it immediately. Ask for reasonable time
to consider it and possibly to seek other opinions. Also, decisions on
significant Issues are often easier if you can “sleep” on it for a few nights. Don’t
let professional fees deter you from seeking advice that might result in a
better decision. Avoid being intimidated by lawyers, accountants and other
experts. Listen to their advice. Ask the experts what the worst
consequences might be if you ignored their advice.

5. Consider
obtaining opinions from qualified business associates or friends before making significant
decisions about your career. Be cautious about making up your mind without any
outside input even though you may think the decision is obvious.
 
6
. Be a good
listener. Don’t interrupt or be distracted from paying close attention to
what is being said and asking for clarifications when necessary.

7. Create a
culture where ideas from every level are welcomed. Try to respond to each
person.


8
. Don’t just
reward people for their efforts. Reward them for their successes and
accomplishments.

9
. Don’t
“reinvent the wheel.” Reach out to sources who have already dealt with the
same problems, that you are facing, in order to learn from their experience.

10. Consider the
Japanese philosophy of “kaizen”, which promotes constant improvements to
achieve better results.

11. Express
appreciation or constructive criticism of subordinates on an ongoing basis.

12. Begin
preparing for significant deadlines well in advance. Avoid pressure at the last
moment and provide time to reconsider and possibly change your initial
thoughts. Seek input from management team members who might be helpful or
effected by decision.

13. Learn to be
successful at explaining your ideas and convincing others to see it your way.

14.
Perseverance, as well as luck or intelligence, often brings desired results.

15. When denied
something important that you need, ask again at least three times, over a
reasonable period of time.

16. When
planning to engage in a significant negotiation, try not to go alone. Bring
someone who can listen to pick up what you may have missed and to provide
input with the final agreement.

17. During a
negotiation, listen carefully and ask questions to determine what is vital
to the other side in order to reach an agreement.

18. Join
organizations in your field and keep in touch with important contacts you
make.

19. As a leader,
be conscious of your ego. Don’t let it influence your decisions.
And furthermore, give credit to others whenever possible.

20. Success
shouldn’t cause “hubris.” Maintain your perspective.

21. If you need
to discharge a subordinate, he/she should never be surprised, because you would
have already told them their performance needed improvement.

22. Until
subordinates prove that they can be relied upon, regularly follow up on whether
or not they have taken the agreed upon actions

23. Never fail
to do whatever you may have promised a subordinate.

24. When a
subordinate brings a problem to you, don’t offer a solution without first
asking them for their solution.

25. Allow your
people to make mistakes as long as they learn from them. However, two or three
mistakes are the maximum allowable.

26. Be
considerate of those awaiting a response from you – whether salesman, job
candidate, employee, etc.

27. The ultimate
sin of a CEO is to allow their business to experience a serious cash shortage.

28. Focus on
evaluating the opportunity rather than the terms of a deal, even though
the terms may be exceptionally attractive.
 

What do you
think? I’m open to ideas. Or if you want to write me about a specific topic, let me know
.