4 Traits A Successful CEO Must Have

today i'm going to cover my top four characteristics of a good ceo hey everybody greg winter egg here ceo of matterhorn business development welcome back to the channel before we go any further be sure to hit the subscribe button and the notification bell so you don't miss any of the content that we're pumping out every week all right so this is definitely a personal list of mine these are things that i find so successful for me and i've compiled a list of my top four things that i think every good ceo needs to have now again this is my list this is kind of what i boiled it down for me of 40 years in business please leave a comment down below about mine and by all means toss in your own characteristics so for me number one is inspire you have to be able to inspire the people around you first of all you have to inspire people with your vision what direction is this company going now you can talk about the product you can talk about the service and every one of our clients at matterhorn business development is definitely proud of their product they're proud of their service they're proud of their position within their own particular industry but that's what you have at the end of doing the job but for me if you're going to be a ceo your job is like to figure out where we are going where is this activity going where is this company going and you must be able to inspire people with that vision often times when i'm hiring someone i really don't even talk very much about their previous job history their qualifications of course we're going to get into that the very first thing that i do is i describe my vision where am i going and as i am describing my basic purpose of the company and my vision and the the future of this company for three five ten years i'm looking at this person especially if i'm hiring a manager especially if i'm hiring somebody who's going to have a position of leadership within the company at some point in that interview i need to see their eyebrows go up i need to see them get a little bit excited about it so then i know that i have done some inspiration i've inspired this person and they're capable of being inspired by my vision so number one you have to be able to inspire others about your vision you have to inspire them to work hard because that's part of your job as a ceo okay number two it takes courage i mean really to open your own business takes courage everyone who's ever started an endeavor it takes courage to do many of you have left salaried positions with benefits to start your own company uh that takes courage and so you must have that innately and you know you can say well you can't steal second base with one foot on first you have to take some risks so all of that ability to confront risk blends into being courageous and then stepping out to number three you have to be able to make a quick decision now i'm not talking about making a knee-jerk impulsive decision but you have to be able as a ceo to gather the data assess the data and make a decision now i'm fine if you need to talk to your cpa i'm fine if you need to gather data from your attorney i'm fine if you need to gather data from your managers but then when you have all the data you have to decide and to think about it is basically just saying i can't make a decision and so here's what you have to be willing to do as far as i'm concerned in making a quick decision so you gather all your data and you decide to go in this direction now you have to be able to honestly assess the results of that decision and i mean begin to assess the results in one week two weeks four weeks you need to start to see some evidence that that was the right decision to make so then you actually may have to say oh that was a bad decision then pivot and go in another direction after gathering the data of this history of four weeks let's say so now well that didn't work that didn't work this did work okay now we're going in this direction and then four weeks later after going in making your second turn you're further down the road okay so let's take a look at that versus sitting there for eight weeks doing nothing where are you you're still sitting in the same spot you're still getting the same results so yes you made a decision it turned out to not be a good decision you learned a few things along the way you pivoted again and now you're where you wanted to be you're at least closer to achieving your vision and your ultimate objective so you have to be able to make a quick decision that's going to take courage and you have to be willing to be wrong you have to be willing to fail on that decision all right so first of all you have to be able to inspire secondly you have to have courage thirdly you have to be able to quit make a quick decision and fourthly you have to think about profit is so i i can tell you i don't know of any client we've taken on in the last 12 months who has any remote idea of the profit that they are making in their business now as a ceo what is your job uh your job is to make sure the company makes profit and you know neil and i have made fun about uber you know they they just had a decent quarter and only lost a billion dollars all right so this channel is not for uber executives this channel is for small business owners and ceos of companies privately owned companies and but it's sad we have met no one in the last year who had the remotest idea of what their profit was and so we get into a profit first analysis we're certified private first professional firm and we have to take a look at the p l and oftentimes the owner doesn't even know how to read the p l so listen you have to confront profit i highly recommend you buy the book profit first read the first few chapters because you have to know if you're making profit or not how can you set your prices how do you know what you can afford to pay someone when you're going to hire them how do you have any idea what you can afford on that website or that pay-per-click or the facebook campaign if you have no idea if you're making money or not you have to be able to assess your prices so that you're making money they're in a profitable range you have to be able to set aside i would recommend at least five percent for marketing you say well i can't afford five percent for marketing well then your prices are probably wrong and if you're not taking home an amount of pay commensurate with what you could make working as what you're doing right now in your own industry then you're not making enough profit i mean i know it's cool to own your own business and to show up for work whenever you want and go on vacation whenever you'd like but then if you can make more working for someone else i don't know is that really why you got into this gig so you have to be able to think with profit so those are my top four i could get into a longer list but you have to be able to do these four things in my opinion if you even have a remote chance of expanding your company expanding your vision and achieving the goals for you your family and your employees and customers so i hope these four things have been helpful and don't forget to hit that subscribe button the notification bell and we'll see you back here next week [Applause] [Music] you

Channel: Matterhorn Business Development

Views: 30,087

Keywords: Matterhorn Business Development, Greg winteregg, Traits of a ceo, traits of a successful ceo

Id: DwcQOB7QT4I

Length: 8min 26sec (506 seconds)

Published: Wed Oct 21 2020