Continuing down the path of helping out the CEO in any way I can, I’d like to present a list of four hacks that I think any CEO could use to enhance his corporation management efforts. I think all of these could potentially help any CEO regardless of the industry or size of the company. I’m not expert, but I have experience and opinions, so please just take this list for what it is and hopefully you can take something away from it that will make this week or this month or maybe your current project easier and more successful.
1. Deliver difficult information personally. The CEO has a lot of people at his disposal to do many things that he may not want to do or have time to do. But he should be the one to deliver corporate bad news to every single client that is affected by anything negative in the organization. He should always be the mouthpiece of the company…not just to announce their latest advances or newest big client…but also the face to face tough information to clients, departments, key employees, etc. Deilver it to them the way you’d want it delivered to you….sort of a CEO golden rule, I guess.
2. Manage financials weekly or bi-weekly, not quarterly. I tell this to project managers and consultants all the time. I shout it from the rooftops. And if anyone wants me to do a seminar or webinar or discussion on it for your project managers and account managers, just contact me. It’s critical. Budgets watched weekly or bi-weekly will stay in check. And for the CEO to be personally involved only makes the corporation’s financial health stronger. Especially if he is the type of CEO who is out in the field bringing in new business.
Sometimes that aggressive sales effort on behalf of the CEO ends with the corporation growing too fast and not paying attention to whether or not their accounting infrastructure and own resource pool (people and equipment) can actually keep up with the sales growth. I’ve been called in to help more than one organization get a better handle on their resource pool and usage due to a CEO who was aggressively bringing in clients faster than the corporation could keep up in terms of resources and financial management.
3. Promote from within. You can bring in great people from outside, but promote from within when possible. If you have good people, this strategy will allow you to keep good people and acquire more good people. It builds morale and in this day and age of questionable job security and short job tenure, you will find the growth of your organization to be more consistent and more sustained.
4. Give digital security more attention. Anything can be hacked. Repeat that five times and then five more times. Anything can be hacked. My wife just got a new credit card from one of the organizations that was hacked last year. The new card has a nice chip installed on it. The organization switched credit card companies/providers as well. And now it requires a PIN to be entered. My money is on it being hacked again in the next six months.
Pay attention to digital security because it affects you, your cashflow, your customers and your customers’ data. Sometime, somewhere, somehow – you will be hacked – at least once. Attend a Black Hat conference here in Las Vegas or in the UK or in Asia – it will be eye opening and worth the $2,000 – $3,000 it costs you.
Summary / call for input
CEOs lead organizations, but they are also employees of the organization and should be following best practices that will help that organization grow and mature. I know most are practicing these and most are great leaders. But some need schooling in these areas and I think this list is a good start. What would you add? And if you are a CEO, how do you feel about this list and what areas of improvement do you think would be good to focus on?
This article was written by Brad Egeland from CIO and was legally licensed through the NewsCred publisher network.