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Successful CEO – here they are the 4 most important qualities to succeed!

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At the top of the stairs, the stakes and requirements are high. As a CEO, you constantly have your eyes on you. It is not easy to achieve the high demands and goals.

What does it take to become a really good CEO who achieves the set goals? The answer to this question, a research team wanted to find out. They came to the conclusion that there were 4 qualities that stood out and that had the greatest impact on success in their role as CEO.

In this article, you can take part in what qualities their research came up with as crucial to becoming a successful CEO.

In a comprehensive leadership study CEO Genome, a research team identified four characteristics as the most important for a CEO to succeed in his role.

The study was conducted by 14 researchers over ten years, following 17,000 leaders, of which 2,000 were CEOs. The researchers came from the University of Chicago, Copenhagen Business School and from SAS Inc.

The results of the study challenge many common beliefs. The study shows, among other things, that introverted leaders are more likely to exceed expectations and results. The board, on the other hand, is often seduced and drawn towards and ideally hires charismatic and extroverted leaders.

Below are the four qualities that are the most important if you as a CEO want to be successful in your role.

CEO report in 1 minute!

Make quick informed decisions based on facts in real time.

1. Ability to make quick decisions

Drive and determination characterize a good CEO. Making quick decisions with confidence and at the same time succeeding in the art of anchoring them in the organization characterizes a good CEO.

There is a widespread notion that CEOs always seem to know exactly how to steer their companies towards success. It can therefore be seen as surprising that the study discovered that high-performing CEOs do not necessarily excel because they always make good decisions at all times. Rather, what really distinguishes them is that they are always capable of action, even if it sometimes makes the wrong decisions.

Rather make the wrong decision than no decisions at all

High-performing CEOs make decisions earlier, faster and with great conviction, even if there are ambiguities and complete information is lacking.

“If I’m 65 percent sure of the outcome, I have to act,” says Jerry Bowe, president of Vi-Jon, saying the consequences of waiting could be greater than not doing so.

According to the study, a successful CEO knows that a bad decision can be better than doing nothing at all and being passive. Being energetic and pointing out a clear direction weighs much more heavily. The probability of success as CEO was 12 times higher if they scored high on determination.

The study found that among CEOs who had been fired, it was far more common to be ousted for indecision than because of making bad decisions.

Do you want to make faster and better decisions? Today, there are smart solutions that give you a close eye on all the essential figures with all your important key figures. Curious? Book a free demo.

2. Get everyone on board

When you as CEO have set a clear direction for your business, it is of the utmost importance that you quickly get everyone on board so that you all strive towards the same goal.

A good CEO understands the needs of employees and the board, what they are driven and motivated by. When they want to involve the board and employees in their decisions, they skillfully use these insights in their communication.

To make it easier to get the organization on board, key people are mapped out who are crucial to have on their side. The CEO identifies critics and what their criticism consists of, in order to constructively respond to and win them over on their side.

Instill confidence and manage contradictions

A CEO who doesn’t protect his team from painful decisions and who doesn’t care if he’s well-liked or not is a trait seen in both low-performing and high-performing CEOs.

However, there is one significant difference, the high-performing CEO succeeds in instilling trust in the organization. They convince them that they are the one who can lead the company towards success, even if it will mean uncomfortable and unpopular decisions.

The ability to manage and not duck contradictions is also something that stands out among the CEOs who succeed best in their mission.

3. A successful CEO is flexible and proactive

The ability to respond at lightning speed to unexpected challenges and opportunities is an indispensable requirement to be able to act as a skilled leader in today’s fast-paced and changing world.

Research shows that a CEO who can adapt quickly has a six to seven times greater chance of success. A good CEO sees setbacks and setbacks as opportunities and a chance to learn and get better.

Have your focus set on the future

As a CEO, you are constantly faced with new situations where you cannot take support in any manual or previous experience. A CEO must therefore always be ready to take on new situations and be able to quickly adapt to these.

As a CEO, your perspective is divided between short, medium and long-term perspectives. A distinctive feature of the more agile CEOs is that they manage to focus significantly more on what lies in the future.

When most of the CEO’s focus is the long-term perspective, they can pick up early signals as it means a much broader perspective and information flow. The CEO can find relevance in information that at first may seem completely unrelated to the business.

By having their ear to the ground, they can quickly sense new movements and changes and can thus quickly make advantageous strategic decisions that benefit the company.

4. Create results

By far the most important quality of a good CEO is the ability to deliver stable, and sustainable results, year after year

According to the study, a CEO who succeeds in creating reliable results has a 15 times higher chance of succeeding and staying in his position.

The CEO wins the trust of employees, the board and investors if they achieve the goals that have been set.

To succeed in achieving stability, you need to be good at both planning and organizing – which, according to the study, 75 percent of successful CEOs were.

In addition, a successful CEO needs to clearly distribute responsibility in his organization, have a structured meeting culture and constantly follow up how the business is doing so that he can quickly act if something abnormal occurs.

Surround yourself with competence

Another important key factor in success is the ability to surround yourself with a competent team, where the focus is on competence and performance rather than loyalty and status.

Here you can read more about the study.

Make decisions with confidence!

To achieve the results and become a successful CEO, it is important to keep a close eye on the numbers and how you stand against the set goals. If you do not have a good tool for this important moment, it risks taking too much of your or someone else’s time, and that the numbers you are looking at are out of date. Keeping a close eye on the numbers also allows you to make decisions with greater confidence as they are based on facts.

Modern tools that make it easier – for real!

Today there are many good tools for this. Boardeaser is one of these tools, our cloud-based solution gives you a quick overview of your business’s KPIs through educational dashboards and reports that can be tailored to your unique needs.

Once the report is set up, the rest goes completely automatically in 1 minute! You will be able to generate CEO reports with a few clicks that impress your board. You will be able to make faster and better decisions based on facts in real time.

If you need help creating structure and follow-up regarding your meetings, there is also support for this in our board portal.

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You also have the opportunity to evaluate and test for free for 30 days, the subscription is then automatically terminated if you do not actively make a choice.

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Afterwards, you will have the opportunity to test our platform for 30 days free of charge. You do not commit to anything, the subscription will automatically end after the trial period unless you choose to continue.

Book a demo by filling out the form on the right. We will get back to you as soon as we can with suggestions for times.

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