The role of the CEOis not just to own the company or go through its financial statements at the end of the month. In fact, it extends far beyond that. CEOs are the parents of the company. They make the big decisions, they are the ones who plan for its future progress, get it out of a rut, and make adjustments to its policies as the trends change.
There comes a time in every business where its popularity starts to increase. Though this is good news for the company, it can come with its own set of challenges. It often means buying more materials, hiring more staff, or changing the entire organizational structure to match the increasing demand. This is when there’s a high tendency for the company to get startled and panic.
When this happens, a CEO has to intervene and set things in order. This can be a tough thing to do on its own because if the entire business has been set ablaze with alarm, then the smoldering fire can also reach the top.
The CEO will have to work very sagaciously here to not lose their company to the chaos. This requires a certain mindset to be able to bring things back into order. In small companies, this responsibility falls to the owner, or other designated leader, and the fundamentals remain the same.
First, the leader needs to engage each employee. They have to ask questions and listen carefully to the problems that they might be facing. This way the leader becomes well aware of the problems facing the business, and may also be given suggestions for solutions as to how to fix them.
Get a Mentor
This is often the start of any solution. A mentor, one who specializes in business issues, is mostly there to help you jump any hurdle. They will give the CEO, or leader, advice and encouragement over how to solve problems and run their business at optimum speed. Even presidents and prime ministers have advisers who give them suggestions on how to handle obstacles and how to work towards the development of the country.
Ask your employees what their goals are and then tell them the business’ goal. Ask them to evaluate how they feel they can align their goals with that of the business. This means the leader should ask employees about how they feel they can use their goals to achieve the business’ goals. For example, an employee might want responsibilities beyond their current role, so they may ask the CEO to be given the responsibility of another area of the business.
Focus on the Important Things
There will be some parts of the business that may demand greater attention from the CEO. It could be because it’s suffering or because it’s one of the most revenue generating. Whichever it is, a leader should be prepared to prioritize some aspects of the business over others.
This article originally appeared in the June 2018 edition of INVISION.