How to Become a CEO (When You Already Have the Title)

For countless business owners and entrepreneurs, becoming CEO is the result of hard work and risks. Despite overcoming numerous challenges to gain the title, it’s uncanny how many CEOs don’t feel qualified for the job. They may have gone to the best school, had the best training, or benefit from decades of experience and yet nothing has prepared them for the sheer volume and variety of decisions and opportunities they face in running and growing a business.

If you’re among those suffering a case of Imposter Syndrome, you’re not alone. I have worked with dozens of CEOs and business owners who have felt they are not “really” a CEO. Rest assured, there are people who can help you confidently embody the role and succeed in ways you never could on your own. Your peers.

Ascending to 30,000 Feet

First up, let me dispel any notion that a “real CEO” never faces self-doubt. Every leader, no matter how capable, has moments of deep uncertainty. In fact, I’d argue that if you are absolutely confident that you have all the answers, your vision isn’t big enough.

What I mean about becoming CEO is that the CEO must evolve as the business grows and the opportunities and challenges change.

Frequently, CEOs will initially operate as if they were COO, CFO, or head of sales, not the organization’s chief strategist and leader.?

This is an extremely common story: The owner of a small or mid-sized business comes in to a first peer advisory group meeting overwhelmed with how busy they are with day-to-day tasks. In Vistage terms, we call this “working in the business.”

As this CEO takes part in the Vistage process, however, their perspective steadily expands. Before you know it, they’re thinking about strategic planning, looking at where future revenue will come from, and extricating themselves from much of the daily grind to focus on what no one else within the organization can do. In other words, they’re “working on the business.”

As this transformation unfolds, not only do company results improve but quality of life gets better, too.

It’s Lonely at the Top

Beyond fostering strong, clear vision, a peer advisory group also provides valuable mentorship. The fact is, each of us has areas we know well, but what happens when we are asked to make decisions outside our expertise and experience??When you are supposed to have all the answers, who do you go to for counsel?

For instance, one of the Vistage members I work with is extremely bright and creative with a solid business, but he was operating in the trenches of his company and concerned that “he didn’t know what he didn’t know.” Vistage helped open his eyes and gave him more tools. Inspired by one of our speaker experts, for example, he developed a strategic plan and brought it to the group for help in fleshing it out and identifying blind spots. The other CEOs in the room asked insightful questions, poked holes in the blueprint, and shared their strategies as well. Over time, the peer advisory group helped him execute on his new vision, and he more than doubled his company’s revenues while improving his quality of life.

In my view, this sums up the power of peers. None of us can be great at everything or acquire every skill. But when we join together, we can achieve things and get to places that would be impossible alone.

Vistage is Value-Add

I’ve been through the types of transitions I’ve described above. After starting my first business in high school, I rose through the music industry, running departments at major corporations, launching start-ups, and managing growing enterprises before again founding my own company. I learned a great deal along the way, but nothing fully prepared me to run a business either. I wish I knew about Vistage back then.

Today I serve as an executive coach and consultant, helping leaders make big, meaningful changes in their businesses and lives. When I discovered Vistage, I recognized it as an opportunity to deliver even more value to my clients.

Why? Vistage is not just the monthly meeting. The peer advisory group is the foundation but Vistage is also:

• 90 minutes each month of executive coaching
• World-class speakers you wouldn’t usually have access to, such as Patrick Lencioni and Simon Sinek.
• A global network of executives—Vistage members are supportive of one another beyond the group and the membership portal connects you to all of their expertise

Vistage equips leaders to deal with the challenges of steering a company amidst rapid change. If you’re in the New York City area and looking for ways to grow your business and become a stronger leader, reach out and we can see if Vistage is a fit.