What Is The Role of a CEO?

It's a fact that you never know what life is going to throw at you. For me, this weekend was no exception. It started late Friday afternoon when Charlie, my Australian Sheppard went nuts in the backyard after he saw a black cat walking the fence. Of course Sasha, my younger Aussie decided she had to get into the mix. Charlie, the ALPHA dog let Sasha know she was intruding by biting her hind quarter, which he has never done before. Read more.

Needless to say it was off to the Vet early Saturday morning. $300 later Sasha had stitches and two drain tubes in her hip. The rest of my day was spent dressing and undressing Sasha in one of my old Tee Shirts so she could do her business outside and protect our house from her draining tubes. Charlie maintained a very low profile other than wanting to lick Sasha's wounds.

If you are an optimist, you can find a silver lining in everything bad that happens. I am not much of one for politics, but must admit I am captivated by the US election and what it could mean to the economy and our business for the next 4 years. As a result of wanting to keep a close eye on Sasha, I stayed up until 3:00AM Saturday night watching CNN while she laid on the couch. I don't normally watch CNN so I have no idea why I turned it on other than the only movies available were horror films like Friday the 13th.

Tony Robbins, the self help guru, was sitting in for Piers Morgan and was interviewing a couple of fascinating people. The first was Steve Wynn of Las Vegas fame. He started $300,000 in the hole left by his father's debt and proceeded to turn Vegas into what it is today. Tony asked, "how did you do it". Wynn responded by saying that you have to stick to simple ideas and build self esteem. He said that self esteem is the cornerstone of great management and productive employees.

The next person Robbins interviewed was Mark Cuban who is a young multi-billionaire. He asked who he was voting for and Cuban said better the devil you know than the one you don't. Kidding aside, Cuban said that the problem with Romney is there is no detail. He said if Romney was interviewing someone for employment in his company, he may ask "what are you going to do to make this company more profitable"? If the person responded by simply saying, "I am going to increase sales and cut costs". Romney would end the interview right there. The point is, just saying you are going to do something is not enough; you have to explain in detail how you are going to achieve it. So far Romney has told us nothing about how he is going to cut the deficit and put Americans back to work. All he is saying is "I know what it takes".

As I removed Sasha's Tee Shirt so she could have one last pee before bed I thought, this is exactly what I mean about building a comprehensive business plan. To be a successful CEO/Business Owner you have to have a detailed financial plan that maps out your goals and how you are going to achieve them. You then have to communicate your plan to your employees. You must delegate your objectives or targets each month and then allow your staff the space to make it happen. This builds self esteem in your people and motivates them to successfully achieve your plan objectives.

It's a very simple concept, but it takes diligence to make it a reality. You may also be surprised at how much your own self esteem grows when you make and execute your own plan. As Mark Cuban said "I have never seen a successful CEO who doesn't have a plan".

If you need help initiating your plan, contact me for a free consultation. And if you have two dogs that hate cats don't let them out in the back yard together when there is one in sight.

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