Challenges you will face on the road to becoming a CEO
By Rilind Elejaz
There is no hard and fast recipe as such that will help you rise to the top till you become a great CEO. Alongside the usual qualities of intelligence, persistence, and patience not to mention a bull-headed obduracy (that will help see you through even the worst times), you will also need to have a lot of ambition. It is very simple really. You can only become a great CEO if you get to overcome your CEO challenges the perfect way.
Many business leaders make the mistake of believing that they are the only ones facing tremendous odds and challenges. However, that is certainly not the case at all. The age-old adage ‘it’s lonely at the top’ applies to CEOs more than most other people. Since all CEOS face such situations at one time or the other, it’s inevitable that some of the challenges overlap. Ultimately, any good leader would be able to lead their organization in the right direction regardless of the issues they face, while simultaneously generating profitable returns. Let us take a quick look at some of the more common challenges that CEOs have to face while running their organizations.
- Making really tough calls that leave their supporters disappointed
Many CEOs new to the job realize all too quickly that they might have to make decisions that will almost certainly upset the many colleagues who had backed them to the hilt so that they got their coveted CEO position. Many, if not most such people expected to benefit in some way or the other, from their appointment. However, even if a CEO is fully backed by the BOD as well as the workforce, it is likely that his or her vision might not align with everyone else in the company. Here, it is absolutely imperative that a CEO cannot represent a single narrow set of interests. Moreover, it is not possible for them to favor their friends and allies over others. They will have to forge close working relationships with everyone, including people who might have opposed them in the past.
- Time and energy constraints
This is a fairly common issue with many CEOS. They will have to coordinate with the employee and make detailed presentations to the various sub-committees created by the board of directors (BOD). Moreover, they might have to work through poorly presented reports and thereby devote that limited time and energy towards making sense of such reports. Here, it would do well for them to take inspiration from other well-known CEOs who have made it big in the corporate world. For example, they might get inspired by other CEOs who are also thriving in the business sector. One such example is Kim Rivers - the CEO of Trulieve. The company is riding the waves on the crest of the popularity of its cannabis products. In fact, she has turned the company into one of the most formidable forces in the whole industry.
- Women CEO Challenges
Women CEOs have to face very big challenges since they have to battle sexist stereotypes. They also have to be tough enough to brush off all the negative labels that are part and parcel of being strong, successful women in what is widely considered to be a man's world. This is not easy and it entails a lot of time and energy before they are able to rise to the top and are taken seriously. This is only possible because of the sheer clarity of their vision. As powerful visionaries, they have to infect everyone with their innate enthusiasm. This way, the whole of the workforce as well as the board of directors will be swept away in the new vision they envisage for their company. They have to be confident leaders who have the backbone as well as the confidence to carry their own ideas through to the end. Ultimately, they will not only have to plan but execute their vision as well.
One of the greatest geniuses of all time Albert Einstein is reputed to have said “success is one percent inspiration and 99 percent perspiration. Entrepreneurs and CEOS like Kim Rivers of Trulieve are living tribute to his statement.