5 Things every CEO should do

There are many different types of CEO. For example, “Operational” CEOs are going to be more focused on helping guide tactical decisions, processes, etc. On the other hand “Evangelist” CEOs likely need a partner (say a COO) to think about process while the CEO is spend time externally talking to customers, partners and investors. Both CEO types could work depending on the type/culture of company. Some overall things that every CEO should be doing:

1. Leading executive team communication

An effective CEO must be maniacally focused on communication. This involves leading the weekly executive team meeting and having leaders do weekly status updates (I use the app Weekly Update for this). The CEO has to be on top of this, lead by example and ensure the team is effectively communicating and collaborating.

2. Adding A players, removing B/C players

Good CEOs are constantly recruiting. They must act to quickly remove low performing people from the team, while at the same time be on the lookout for new A players to join.

3. Documenting the vision and goals

The CEO owns articulating the vision and defining measurable goals that are realistic for the team to achieve.

4. Holding the team accountable for performance

When the team succeeds, the CEO should give props. When they come up short, the CEO should be clear where the failure was and help the team dissect why it happened so similar situations can be prevented in the future. The CEO is ultimately responsible for delivering results.

5. Ensuring the company has the capital needed to operate and succeed

Finally, a CEO must be constantly aware of the company’s financial needs and guide the effort to raise capital or adjust expenses accordingly. If the burn is too high, the CEO must dictate lower budgets or reduced resources to stabilize the company.