THE ROLE OF A CEO IN A COMPANY | 4 Things Every CEO Should Be Doing

and you go why are you doing this you oh well you know the machines only make blue ones so to make bread ones we have to you go well what idiot would do that oh I was the idiot who did that hello everybody welcome back to the channel I am your host Neil winter egg I am joined with dr. Greg winter egg today and today we are going to do a video this is not one of our news room rants or you know complaining about something else this is educational video so stay tuned to the end alright this is the role of the CEO people ask us a lot you know what is this person in this business supposed to do what is that what is the job of an executive what is all this and honestly the role the CEO really has a lot to do with how an organization is functions how much structure the culture of the organization but we want to talk today about what we think a CEO should actually do and what types of decisions they should make well and I want to also add most businesses like 89% of businesses in us are small businesses they have under 20 employees according to a study that we recently saw but you have you and four employees like well I'm not a CEO this isn't for me oh yes you are yeah I'm the guy laying the bricks I'm not a CEO right but it's your business you started it so by default you are the chief executive officer so you're the one in charge yeah so this is for any business owner and Neil knife and also this is not just small businesses oh yeah that's right more large more large companies if the CEO just did these few things yeah would be in a completely different world yeah for sure and so I'm gonna take on a few points here today as a CEO and Neil's gonna respond as someone who works in a company right so for me the number one product of the CEO has to be vision and future where is this company going and I'm sure that you will back me up on this if the people in the organization look at their fearless leader and they are law just chasing their tail panicked not sure which direction to go doesn't that freak you out if you're working in a company in the the leadership seems a bit confused yeah I would I leave so as someone working in an organization don't you feel better insecure if you are informed about where the company is going that's the long-term vision this is what's happening don't you feel better knowing that you have a future yeah if you see the the leader running around panicked you know hey can't pay you this week then aren't you kind of inclined to start passing your resume in around and you don't know what if you have a future what's going to happen etc right so tip number one have a vision and if you're uncertain about it then meet with your accountant or other business advisors never let your juniors never let anybody under you know that you are uncertain mm-hmm okay so number one vision confidence uncertainty in the future and if you have to fake it until you figure it out all right number two you have to have a strategy for achieving that vision not just a bunch of ideas and you're throwing a bunch of mud up against the wall to see what will stick like you have to have a strategy for achieving that and then for you working in a company you need to know when you come to work every day we just what the heck you're doing yeah you can't just say you know okay guys instead of making red triangles we're gonna now start making blue triangles and then just walk away right there has to be an idea behind why we're switching our product line how that's going to happen because a lot of people at first are gonna be very used to making the certain products that they make or doing the certain job they do and when you change it without an exact step-by-step sequence and reasoning and why it creates that uncertainty yes why are we doing this I don't need to do this this is stupid why do you do it this way and then somebody says well this is why we do this way and they go oh that makes a lot of sense right but it's having that strategy actually worked out of how to achieve that goal so then as a CEO yes you have a vision and you have to have a strategic plan and then the strategic plan has to be sold to these guys why are we doing this why we making this change what is behind this strategy why is this decision been made because if Neal Neal's not a robot and if he's out there just doing something not sure why he's doing it first of all he's not gonna do it very well I'm not gonna do it very fast and actually might start looking around for another job because I would disagree with you that I would say most employees are robots because they don't know that vision they don't know that strategy they don't know why they're doing what they're doing that's well that's actually a very good yeah all right so now you have to have a strategy and then you have to sell it to the people who have to execute it yes so they have to know why they're doing it all right now then you have to have a way to monitor whether the strategy is actually being complied with so we're switching from red triangles to blue triangles and you have to go out and you have to look at what's coming off the production line are they red are they blue are they purple you know you're getting some mixed version of what you thought so you have to follow up and make sure that your orders and your strategy is being complied with as well as maybe having some statistical monitors like statistics is that really important to monitor how much production work how many units are rolling off the production line how many billable hours do we have out of this accounting or this law firm so you have to have some way as a CEO to be able to look and say well are we winning or are we losing with our new plan right and then if you have a scoreboard you know if you're winning or losing as as an employee as an employee right sir so now these are the three things that are on top of my mind yeah now as an employee what else would you like to see yeah and we talked off-camera about this little bit mean you could obviously say that a CEO is a charge of five million other things yeah but I want to I want to just look at like the simplicity of what it is I mean I would say a good example of this is actually the Ford versus Ferrari movie which the CEO Ford realizes look at the way we're going yeah we're not going the right way everybody's saying no what we're doing this and we got this great card he's like this is crap we need to change up what we're doing right we're losing yeah we're losing we need to make a new strategy we need to have people understand that we're not just here making these big big cars for no reason we have a race pedigree so we're gonna set we're gonna do this and there's a strategy we had it we're gonna hire the right people and all this stuff right that's actually a perfect example yeah and that's really what the CEO needs to do the other thing that I would say is from an employee perspective to anybody who is a leader of people you have to be willing to listen to the people underneath you now there's also a double-edged sword to that if you know that the vision is right that the strategy is right and that this is how it can be accomplished and you have detractors they need to go right but we talked earlier about like Undercover Boss you know the people go okay everybody's gonna make red triangles now and and then you find out that the waiver is making red triangles is by taking the blue ones and painting them red and you go why are you doing this you oh well you know the machines only make blue ones so to make bread ones we have to you go what idiot would do that oh I was the idiot who did that so you have to be willing to listen to the people out underneath you to say what do you need to do job better yeah how could you who do this more than I do do your job better exactly and make it better and listen to the people underneath you and not just say well you know I don't care what it takes you make the red triangles great okay then you're gonna upset people because if you are a CEO and a business and you are detached from the production of the product or service yeah you have to grant some major importance to the people who are there on the frontlines boots on the ground doing it watching the machine or the clients or the whatever and you can't just be up there in your ivory tower smoking cigars looking down over your empire and so detached that you don't even know what's going I think that that's what's interesting when you think back to older older times before we had as much automation before we had everything we had there was a lot of times where you hear about I think maybe an old car factories or you know production facilities the CEO the owner what had his office overlooking the production floor yeah we definitely don't have that nor you know like Jeff Bezos his office is not in the warehouse you know and rightfully so he doesn't you know you graduate every wants to do he's worth of gazillion bazillion dollars but we do have a more disconnection than we ever had before and I always say the more technologically advanced a lesson communication we are mm-hm and I think technology forces that into a lot of businesses where you aren't in communication with these people and so this is where Neil wanted to throw in just from the employee viewpoint listen to me I do have some good ideas don't brush me off well I have I have a friend who I know who five years ago I visited his office and he had 10 employees and he stood at his computer in the middle and there were 10 desks and the name of the company is know before KN o WBE and then the number 4 know before go look it up he's gone from 10 employees to 800 in five years from zero value to a billion dollar valuation and I know many people who work there 800 employees I know many of them every morning he's on the television from 9:00 until 10:00 after every morning he everybody walk past them everybody stops working and his office is in the middle and his office stands in the middle and he doesn't door he doesn't ever door then walk up and talk to him any time so he practices this better than anyone I have ever seen and his company has exploded he's got Wall Street money etc but I was so impressed because you know in my offices every morning you know we're like hey what are we achieving today what is goals for today etc and he still does that with 800 ploys on a billion dollar company I think another interesting thing just on that is the show the profit with Marcus lemonis we've talked about Marcus a few times I've noticed I haven't watched as many episodes in the last few months but I noticed that one point it seemed like he was getting a couple of offices together for some of his smaller companies to actually work out of in the same space yeah so they were all connected to each other even though you know they do completely different things they were networked they can network and work and help with each other yeah he you know he puts them there in that space so that they're all connected and yeah he can be connected I think that that's just something that's very lost these days I think right that operating basis is most of the circle circles back around to communication communication working with them so these are the four main things obviously there's a hundred million others but we think these are the top four from if you mail these for the rest of the other see everything else you guys take them together much easier yeah so we'll let you do the clothes all right well that's all I have for you today give us a thumbs up a like subscribe leave a comment down below tell us any other really vital roles of a CEO that you think should be in there and we'll comment on them as well we'll see you next time [Music] [Applause] [Music]

Channel: Matterhorn Business Development

Views: 35,935

Keywords: Matterhorn Business Development, Greg winteregg, neil winteregg, Role of a ceo, role of ceo in strategic management, role of ceo in an organisation, what is the role of ceo in a company, role of ceo in a company, what does a ceo do

Id: oNUj-4NJDqQ

Length: 11min 51sec (711 seconds)

Published: Mon Jan 13 2020