5 secrets that a CEO never shares
A CEO is to a company as a general is to the Military. On any given day, a CEO or leader can find themselves in a game-changing meeting or thrown in front of a TV camera. In actuality, this position holds a lot more secrets that we don’t know of. It’s rare for a CEO to accept their mistake.
When something is important enough, you do it even if the odds are not in your favour.
The probability of finding an odd number each time when the six-sided dice is rolled is half thus, getting an odd has the chances of about 50% which ramp up the level of risks involved by 50%. If we abide by the idea of decisions being right, half of decisions are wrong. Let’s take a quick look at what are they.
Good CEO realizes that a wrong decision may be better than no decision at all.
CEO is a very strong and bold personality who influences ideas and expresses firm’s decision on others. Their decisiveness may not bear fruitful outcomes at all times. A CEO’s position is subjected to immense pressure throughout their engagement. Apart from their high vantage vision, their actions are not in sync with their desired outcomes. Start-ups share multiple positions and roles of responsible employees on a single employee. Understanding the risk and pressure of a start-up, many CEOs take decisive action without foreseeing the outcomes of their decision. They often realize their mistake when the company is broke and if they are wise, they envision and forecast to improve their future.
Very Optimistic but very far from being realistic.
Only launch a product once it’s truly ready.
Inspired by other profitable companies, a CEO tends to generate business ideas by replicating their business models to create revenue for the company. This leads them to deliver a quick decision even when the domains are unknown, there is lack of clarity, and there is no forecast of the upcoming consequences. Although their reality is far from facts , they have an optimistic approach to achieve monetary gains and are not prepared for unforeseen circumstances.
Influenced by Fluctuating Notions
Mix business with pleasure and risk irreparable damage to your reputation.
A CEO’s mind is constantly occupied with a wide-range of ideas that are mostly influenced by their life experiences and monetary gains. There are many ideas that sound exciting but it requires a lot of effort to turn them into a successful business model. We live in a digitally connected world that amplifies the reach of any information without checking its authenticity which directly influences people to react on the information they receive.
This often leads to serious consequences and changes the perceptions based on what information they collect.
Underestimating their competitors
Perform thorough market research before commissioning a new product.
CEOs, are trendsetters and not trend followers hence are very creative, street smart and calculative. While they are well connected with social media ,they often tend to dissociate their rivals from their league. This is their biggest mistake which leads them to a mass disaster. Understanding current market requirements and studying a competitor’s approach is very helpful in terms of resource management and to process a benchmark.
Not caring about their team members
The CEOs are often ignorant about the problem their team is facing to tackle the daily challenges. They only consider results and in this race of time and money they often build gaps between them and the other team members.
Well! What can we learn from their mistakes?
A CEO often ignores its competitors thinking they are not a part of their league. While one makes these mistakes as a CEO, be sure to thoroughly research any new product ideas, do sense any cautions, keep a close watch on the competitors, and never underestimate the general public — they have the power to make or break a brand!
