The seven habits of a great CEO

"Some are born great, some achieve greatness, and some have greatness thrust upon them."

William Shakespeare

Introduction

Over the years, I have often been asked to speak on the question: What makes a great CEO? 

This is a subject that I have been researching for much of my life, starting in early 1990s with my MBA thesis. Since then, I worked with the MoD in the late 1990s implementing the Investors in People Standard, investigated 18 European High Performance businesses and more recently carried out a research project into 75 organisations globally who have been successful. I have also had the privilege to have been a coach and mentor to a wide range of CEOs over my career. These elements provided me with an enormous range of insights which appeared to me to focus on several key themes.

Before going further, what do I mean by great?

For me, great CEOs are able to achieve success not just in their business lives, but also in their personal and family lives. They are able to create an inspiring vision for each of these areas. They know themselves intimately, and they understand the motives and critical success factors of those around them. They hold themselves accountable and they know how to foster accountability in others. They recognise the importance of building and sustaining teams. They understand their numbers and can see well beyond the horizon. And they get results.

How did they become great?

The road to greatness is a personal one and all are different. Having said that, there are common themes amongst the great CEOs.

One of the key ones is that all the great CEOs are lifelong learners. They have a commitment to continuous personal growth and understand that they can’t do it alone. In environments of rapid change, they realise that faster growth and greater success comes from learning from others who have walked on a similar path.

When I work with newly appointed MDs (these are people who report directly into the group or overall business CEO), I will quite early on ask them three questions:

1. If you could change one decision that you made in the last year, which one is it and why do you want it changed?  Sometimes if a CEO can’t think of a decision they would like to change, it is time to go deeper, because everyone has one. Whether they are willing to admit it or not, no one can fail to think that decisions that they have made can’t be improved. If they remain silent or unsharing, the issue of their self-awareness is considered. I have found that the best CEOs I have spoken to have more questions than answers.
2. What are the biggest strategic decisions you have to make in the next year? It is critical here to listen carefully to the answer. Are they working on their business or in it? Strong CEOs work on their business. They see the big picture and plan accordingly. The CEO must have the capability to look to the horizon; their eyes must focus on the future. They must be aware of the next business opportunity, and the one after that. The opportunities are always out there, but you cannot see them with your head down.
3. What is the number one thing you must get better at as the CEO of this company, in order to take it to where you want to take it? If the CEO can’t come up with a good answer here, that indicates a big problem. Everyone can get better, but not everyone is willing to admit it, either to me or themselves. It is a moment of truth. How well they know themselves is a critical factor, and the ability to answer this question is critical to the CEO’s success.

The best CEOs I have researched and worked with have thoughtful answers to these questions. They are authentic, they want and need to get better. They sharpen the saw and keep sharpening.

This article is written to support and honour those who take on the challenge, who decide which mountain to climb and who will climb it with them. In my experience, great CEOs once they get to the top of a mountain are eager to seek the next mountain to climb. I believe these are very special people and that they are made not born. Greatness is always earned, and learned, never given.

Of course, many CEOs have been born with helpful personality traits and that can, of course, provide a firm foundation. But from my observations it is only through development, learning and experience that leaders can become great. In other words, to return to the quote from Shakespeare with which I started, the best CEOs achieve greatness.

The seven characteristics of great CEOs

The comments that follow come from thousands of intensive one-to-one meetings I have had with MDs and CEOs over 30 years, and it is my hope that these comments will help you fast track your own personal and business growth. I believe that by learning from them, you will significantly improve your success, your life and the lives of the people around you.

Be clear, I am not a professional writer. I am CEO confidante, coach and mentor. What does that mean? It means I have to know when to shut up and listen. It means that I have had to hone my ability over time to read between the lines. It means I have to dig deep inside myself to master the courage to ask questions that few will ask. It means that the CEOs have to know how much I care for them and know that I stand for their success.

So, what would I distil out of these 30 years?

For me there are seven things, many of which I have discussed in the past:

1. Understand yourself and others – the importance of emotional intelligence.
2. The means to inspire – via a compelling vision of the future.
3. The ability to find and help the best people – creating and sustaining the A team.
4. Get things done – by being accountable and responsible.
5. Use the best information to make quality decisions – use great data and tools.
6. Identify and maintain your work-life balance – all work and no play makes Jack a dull boy.
7. Understand the value of peer support – the MD’s / business owner’s / CEO’s connections.

The final point above is perhaps the key driver for success. A connection to a trusted group of peers, that will support you and your efforts, and challenge you to improve.

Why? Because success today must assist us to be effective in the accelerated environments in which we work. Having peer groups of MDs, CEOs or business owners who are able to bring their diverse backgrounds, skills and experience to bear on your problem is often a key determinant to success.

Peer groups are a way of building ‘collective intelligence’ for the benefits of everyone within the group.

MD / CEO peers are good at understanding what you are going through and where you are coming from because, often, they have been there themselves. Although they have often come from completely different businesses, their experiences are usually comparable, and can provide clear lessons.

In such situations you often get to hear the unfiltered unmeasured truth, which is a very valuable process for everyone involved.

Conclusion

I hope this article has provided you with some important and useful insights. Please remember, whatever Shakespeare said, greatness is not given, it is earned!

What are you going to do to achieve greatness for yourself? Start by making an action plan and stick to it.

Synesi Consulting helps businesses and the people in them to become peak performing. We understand what the very best organisations do, and work with companies like yours to give you the skills, plans and structures to do the same.

www.synesiconsulting.co.uk