The job of a CEO is not one that you just wake up in, even the Network International CEO will likely agree. It is a process that requires deliberate and well-thought-out steps because of the immense responsibility and power that comes with the position.
Becoming a CEO should, therefore, be less driven by the desire to be calling the shots from the top of the corporate ladder and more inspired by the determination to run a successful business in all respects.
This is not an easy undertaking. Possessing CEO capabilities requires an investment in effort, time, and resources. In fact, it would require a lot of information to cover everything there is to know about a CEO’s job, but this article highlights the basics.
Who is a CEO?
A Chief Executive Officer or CEO holds the highest-ranking position in a company. They are responsible for making major and final decisions in the management of the business as well as overseeing overall operations and use of resources.
A company CEO, who also goes by the name president, managing director, or chief executive, is a member of and works closely with the company’s board of directors to ensure the success of the company. CEOs are also the face of the company.
What Do you Need to Become a CEO?
There is no sure-fire way to land a high-ranking executive position, but there are steps you can take to put yourself on the path to becoming a CEO.
CEOs need a set of skills that will help them to succeed in their work. These skills help them to lead others, create meaningful connections within the company, make informed decisions, manage the assets of the company, as well as carry out other duties and responsibilities.
Some key CEO capabilities include excellent communication, exemplary leadership, great organization and management, a high level of understanding, intelligence, and effective decision making.
In most cases, you will need some experience in lower-level management positions before advancing to the executive level. This is the opportunity to gain as much experience as possible in your field.
Also, unless you have found your own company, rising through the ranks to be CEO is competitive and you will need to work hard to stand out above other candidates. This includes taking advantage of opportunities to lead, gain knowledge, and exercise your skills.
People who are CEOs of their own companies can get away without formal education, but it would be a long shot trying to land a CEO job without it. You will need studies in your field as well as in business management.
You can pursue a bachelor’s degree in subjects such as economics, accounting and finance, business management, and science. Also, most CEOs including the Network International CEO have MBAs in fields such as human resource management, business policy, accounting, and marketing.
CEO’s Salaries and Job Outlook
According to the US Bureau of Statistics, CEOs earn an average annual salary of $179,520. The employment of CEOs is predicted to grow by 8% between 2020 and 2030.