What makes a great CEO? Here’s what ChatGPT thinks…

I’m always pushing the business owners in my world to think more like a CEO than an owner operator… it’s a different mindset and very empowering for a business owner who often feels they are too busy slashing through the brambles to see what’s available to them on the other side of the forest.

I thought I’d see what ChatGPT had to say about ‘what makes a great CEO’. Here’s the response. What do you think?  And how would you rate yourself against each of the criteria below?

Me: What makes a great company CEO?
ChatGPT:
  1. Vision and Strategic Thinking: A great CEO is able to set a clear and inspiring vision for the company’s future and develop a strategic plan to achieve it. They must be forward-thinking, able to anticipate market trends, and adapt the company’s strategy accordingly.
  2. Leadership: Effective leadership is crucial. A great CEO leads by example, inspires their team, and fosters a positive and motivated work culture. They should be able to make tough decisions and guide the organization through challenges.
  3. Decisiveness: CEOs are often faced with complex decisions that impact the company’s direction. Being able to analyze information, weigh pros and cons, and make timely decisions is essential.
  4. Communication Skills: CEOs must be skilled communicators, able to convey their vision, goals, and strategy to employees, investors, customers, and other stakeholders. Clear and transparent communication helps build trust and alignment.
  5. Adaptability: The business landscape is ever-changing. A great CEO is adaptable and open to new ideas and approaches, willing to pivot the company’s strategy when necessary.
  6. Problem-Solving Abilities: CEOs encounter a range of challenges, from operational issues to market disruptions. Strong problem-solving skills allow them to identify root causes, explore solutions, and implement effective strategies.
  7. Emotional Intelligence: Understanding and managing emotions, both their own and those of others, is crucial for building strong relationships and fostering a positive work environment.
  8. Resilience: Leading a company comes with its share of setbacks and failures. Resilience allows a CEO to bounce back from challenges, learn from mistakes, and maintain a determined attitude.
  9. Strategic Delegation: A great CEO knows how to delegate tasks effectively, empowering their team members to contribute their expertise and freeing up their own time for more high-level strategic decisions.
  10. Ethical Integrity: Upholding ethical values and integrity is paramount. A CEO’s decisions and actions impact not only the company but also its reputation and the broader community.
  11. Industry Knowledge: CEOs should have a deep understanding of their industry, market trends, and competitors. This knowledge enables them to make informed decisions and capitalize on opportunities.
  12. Financial Acumen: A strong grasp of financial concepts and metrics is essential for managing the company’s financial health, allocating resources wisely, and making informed investment decisions.
  13. Customer Focus: A customer-centric approach drives innovation and ensures that the company’s products or services meet customer needs and expectations.
  14. Networking: Building relationships with other industry leaders, investors, and partners can open doors to collaborations, partnerships, and potential growth opportunities.
  15. Long-Term Perspective: A great CEO focuses not only on short-term results but also on building sustainable, long-term growth for the company.

Here’s a challenge…. take each of the above criteria and mark yourself out of 10 for two scores:  firstly, score yourself in terms of your ability; and secondly, on how much time you spend actively applying yourself to the quality or activity described.

Love to hear your thoughts.  And if you would like to be challenged more to improve your ability as a CEO vs Owner Operator… ask me about the Master Moves programme.  There’s one coming up soon….

PS. Book a free 30 minute business chat with with me here.

Advisory Board Video Tip Series – Tip 1. Understand what a Advisory Board is

Have you been wondering if it’s time to look at an Advisory Board for your business? Or has someone else suggested you should have one, but you don’t really know where to start?  I work with business owners every day and often get asked about the need for an Advisory Board.  I think its a great idea but only if you do it properly and at the right time for your business.

So how do you do it properly?

I thought I’d share my advice in the form of a video tip series.

Tip 1 – Understand what an Advisory Tip is

An Advisory Board is a small but perfectly formed group of people who come together to add value to your business growth plans.

There are a few clues in the above statement:

  • Small. You don’t want a committee of people with so many perspectives it confuses you. I think yourself plus 2 or 3 others is ample
  • Perfectly formed. Choose very carefully who you have on board – choose people who have proven experience in both business and in the particular areas you want to grow in. For instance if your growth strategies are likely to include exporting, then someone with exporting experience could add great value.
  • Business growth plans. The right time to bring together an Advisory Board is when you are in a growth phase and have a clear idea of where you want to take the business and ready for the right help to implement your plans – not when you are just starting out or if you are unclear where you want to take the business.

I’ll be sharing all 7 video tips as a blog but if you want to fast track to the full series, just go to https://liber8yourbusiness.com/advisory-board/

And of course feel free to email me at laura@liber8me.com if you have any questions or want to talk more about help with forming an Advisory Board.

Happy growing!