Last Updated on August 15, 2024 by Dave Schoenbeck
I love the book The 4 Disciplines of Execution. I highly recommend that all CEOs read it and implement its recommendations. In the book, the authors describe the challenge of extracting ourselves from the day-to-day whirlwind that violently sweeps us into solving urgent and unimportant problems instead of staying diligent in the critical responsibilities of a CEO.
I have worked with many business owners, and most struggle to remain steadfast in their role as CEO. There are many reasons for the distractions, and many appear significant enough to warrant their attention for a short while. The trick is finding a way to stick your arm out from within the whirlwind, grab onto a tree, and pull yourself back on track. As the CEO and business owner, your role is to keep the business on your plan.
To that end, if you are a CEO or business owner, please cut out the list below and put it on your desk as a reminder about what you should be doing versus what you are distracted by.
Responsibilities of a CEO/Business Owner
Courageously explore new markets and exploit opportunities.
Vigorously probe the competition for weaknesses.
Identify and carve out new market niches and reposition as needed.
Assess and fix the internal capability and capacity weaknesses.
Experiment, measure results, and own the business performance outcomes
Curate the internal culture and define the rules & expectations for all.
Set the plan, the vision, the pace, the tone, and the leadership style.
Find, nurture, and challenge the next generation of leaders.
Communicate effectively to your team, your customers, and the industry.
Nobody says that the responsibilities of a CEO are easy. It is very challenging to balance all of the time demands from the matrix of your stakeholders. But, in the end, it’s your job, and there isn’t anyone else in your business has the skills, experience, and motivation to be the business principal. It’s lonely at the top, but the feeling of accomplishment is gratifying when you can focus on what is necessary. The results will be there, and it is worth it.
To learn more about business owner’s responsibilities, download Coach Dave’s free ebook, 10 Critical Responsibilities of a Business Owner.
Coach Dave
- Entrepreneurs: How to Build a Moat Around Your Business - November 14, 2024
- Chasing the Elusive Concept of Work-Life Balance - November 7, 2024
- Making the Case That Proves the Importance of Consistency in Business - October 31, 2024
I’ve recently learned that a good way to find competition weaknesses is to do a little FREE research online. Let’s say your product is something that is bought online, try to find reviews. Look at what the people like about the product but really pay attention to what they DON’T like or what’s missing. See if this is a repeating issue and then focus on solving that problem with your product to make it better.
You will have found that there already is a market out there who is buying and how you could better their lives with your product.