The Top Qualities of Today's CEO

It takes common sense to know what qualities make a good CEO, but today's businesses are different. Gone are the days of rigid work structures. Top talents flock to businesses with dynamic leaders. So what differentiates the top CEO from the rest?

Today's Top CEOs can:

Build.

Successful founders can build something such as write code or create a device. Business leaders today are more hands on with their company. It’s not enough to have leadership skills; you also have to know the inner workings of a product or detailed process of a service.

Trim the fat.

Good CEOs are good at hiring and firing. The key to have a viable and thriving business nowadays is to have a lean organisation. Costs are high and the economy is unstable. If you want to run a tight ship, you need to get rid of the dead weight. It's one the bitter truths that you will soon learn as an SME.

This rule also applies to processes. Smart SME CEOs outsource non-strategic tasks to increase efficiency. They also recognise that outsourcing can be used to tap into international markets, as well as access capabilities to boost and support internal efforts.

Build a culture.

A good CEO creates a work culture of individuals that have a mission. No matter how much they love their job, tasks will inevitably turn repetitive and routine. At the end of the day, our purpose is what drives us to do better. Employees who know that their contributions matter stay longer. 

A good CEO knows the value of work-life balance. Individuals require more than just a pay check. Google and Facebook have made a strong commitment to provide a positive and enjoyable working environment, making them two of the best companies to work in.

Gone are days of cubicle monkeys and boring companies. Unless you have an army of robots at your disposal, SMEs need to value the backbone of their business – employees. Sure, you have your managers to make sure that everything runs smoothly, but it's the average employee who does most of the heavy lifting and mindless routines.

Build a team, not just a company.

A good CEO knows how to build a team out of a company. In the old days, executives have the privilege to stay in their ivory tower. They don’t really need to mingle with the people at the bottom of the chain.

Nowadays, companies are geared towards collaboration rather than uphold seniority. Leaders work with their employees and listen to feedback. HubSpot has a no door policy where employees can work elbow to elbow with the founder. Seats are often changed so employees can meet other people.

This is important because the relationship between businesses and consumers have become more personal because of social media. Customers are concerned about corporate social responsibility. They prefer to do business with companies that have a positive impact on their staff, the environment, and society.

Uphold a strong vision.

The start-up innovators of today know how to build products and/or services that matter to people. The main lesson for entrepreneurs is to start by solving a real problem, instead of falling in love with one idea. Consumers won’t really care about your product as much as you do, unless they fulfil a need or purpose.

SMEs that are based on the needs of consumers are more likely to survive, especially today when they have plenty of options.

Tell a story.

It’s the CEO’s job to tell the company’s story. So it’s a pre-requisite that they know how. Today, the business image has shifted from the rigid corporate structure to an innovative organisation. A good CEO must be able to tell an engaging story not just the history of the company.

Life is hard and the 9 to 5 job isn’t making it better. People prefer companies that have a fun and positive vibe, instead of the run-of-the-mill corporation of suits and ties. SMEs need a CEO that can tell a story that people can relate to and want to be a part of. Of course, it also pays to have one that is clear and concise.

Convince people.

A good CEO knows how to deal with conflicting ideas and interests. Customers want something that investors don’t and vice versa.  Business leaders may end up fighting against each other over the direction of the company. A CEO knows how to get people on board, change their minds, or establish a compromise.

The early years are crucial for SMEs. This is when start-ups lay the foundation for the future of the business. It’s important to have a CEO who can handle situations wherein personalities clash because of different approaches.

Survive a smear campaign.

A good CEO isn't perfect, but having skeletons in your closet or treating people differently behind closed doors can make it hard to survive. The downfall of a CEO can have a huge impact on the image of the company. Nothing on the internet is sacred. Once damning information is “leaked”to the public, it can be hard to clear your name.

SMEs should avoid hiring relatives in the business. Your actions, even though it's purely business, can affect your future relationship. Its easier to implement damage control if you're not related to the culprit. Above all, do a background check and make sure that you're going to hire someone with integrity.

Extra credit:
Establish boundaries.
A good CEO is nice, but also knows when to draw the line. You can't control how people perceive you, but you can make an effort to show that you're not an asshole. People are more likely to remember the negative instead of the positive. Don't be the stereotypical corporate villain.