Executive Coaching Corner #3 – Pit Falls of CEOs

Today we’re talking about two sure fired ways to fail as a CEO. I recently re-read Patrick Lindsay on his first leadership fable, “The Five Temptations of a CEO”. I don’t have time to cover all five paths to failure but let me cover a couple you should know and hold dear. One surefire way to fail is to put something, anything that’s non-family ahead of company results. I see this more in CEOs who have little or no ownership in the company. In these cases it becomes almost natural to put the CEO’s future ahead of the company’s success.

These leaders stop taking calculated risk. They tend to hire people who build egos rather than build company results. This CEO personality becomes complacent. Which often signals the beginning of the end. A second sign of pending failure as a CEO is a fixation on harmony. Trying to keep everyone happy and smiley is a negative drag on the more important skill of encouraging open dialogue. A passionate exchange of ideas is paramount to building a strong management team. Strong key executives have their own ideas and they should be heard. But great key executives are those who get their input in and then fully support whatever final decision the CEO makes. A business leader who can not tolerate professional discord is a CEO who is limiting the company’s future. Lindsay only offers three additional temptations.

I highly recommend this little fable containing five pointed warnings for business owners. It’s a must read. Enhancing your business knowledge through good books, videos and of course business radio is an essential TBR best practice.