10 Steps to Think Like a CEO

Golda Meir, the Russian born Israeli politician once said, “I must govern the clock, not be governed by it.” How very true. This is the perfect example for how a businessman must think. The lesson that this quote teaches is to think differently while still being within the limits of reason. It emphasizes the importance of time and time management. What are some other traits of successful businessmen and what are the steps one must take in order to cultivate your business aptitude? Here are a few pointers to help you develop your business thinking.

Step by Step Guide to think like a Businessman

From the beginning, you must accept that there is no shortcut to success and hard work has no substitute.

1. Only worker bees don’t need to have cross-business knowledge: Gone are the days when businesses were insulated from global economic changes. At times when almost all the businesses are globally connected at some level, it is wise to gain cross business knowledge. For example, as an investment consultant, you can’t restrict your clients to investing locally just because you lack international knowledge.

2. Don’t daydream but do dream big: Achieving your dreams is possible unless you are daydreaming. It is OK to dream big; this is the way that goals get accomplished. Just don’t get caught up in trying to achieve the impossible. In other words, start out with smaller, attainable goals, and then work your way up to the bigger ones!

3. Each success or failure is your responsibility: Don’t cry over spilled milk. You are responsible for every success or failure in your business irrespective of whether or not your staff contributed.

4. Strike a Balance: Exhaustion will eventually wear you down physically and mentally. You need to find a way to balance your work and personal lives. You can’t allow one to thrive at the expense of the other.

5. Defy the nature: This is not exactly defying the truth but the general misconception. By the way, working against time is defying the nature.

6. Plan Strategically Like a Military Chief: Military chiefs plan every move meticulously without leaving anything to chance. You should do the same. You can expect to fail without a plan. Don’t let this happen to you. Failure to plan is the same thing as planning to fail.

7. Be courageous: Anticipate extremely complex situations that, of course, need bold actions. Accept that nothing great gets accomplished without risk. Be willing to put yourself out there and take some risk.

8. Accept challenges: When growth is the objective, challenges, both known and unforeseen, are inevitable. Face them, and as you move forward you will grow in confidence to face more of them.

9. Be patient: This is one greatest character a CEO possesses. Patience always pays off in the long run. Losing your cool at any stage, especially at the threshold of victory, will see your years of effort going right down the drain.

10.Sense Victory: Sensing victory beforehand is crucially essential. The awareness that you have come close to victory will often decide whether you make it or not. Without being able to sense victory, you may not notice the last step you probably have to take. This is what they call ‘pulling it off.’

About the Author:

Tony Jacowski is a quality analyst for The MBA Journal. Aveta Solution's Six Sigma Online offers online six sigma training and certification classes for lean six sigma, black belts, green belts, and yellow belts.