Honing “CEO skills” isn’t just for CEOs—it’s for every manager who wants to do a better job and every employee who wants to be promoted.

Sure, you may not know as much, or have access to, the same information as the boss, but don’t let that stop you.

It’s similar to managing a fantasy sports team, you know all the easy information and a little research usually gives you a lot more with which to work.

You can make it even more interesting and fun by recruiting colleagues to choose other companies to shadow and compete.

Whatever level you’re at, you may know a lot about your company already and a lot more is in the public domain.

What’s most important in running a company? Obviously, the list below isn’t everything, but it does offer ten of the most important things to get you started running the fantasy version of the company you choose.

• You may not be a CFO, but you better know your numbers: where they come from, how they interact, and where they’re going. This includes knowing/learning to read financial statements, annual reports, etc.
• No matter what your career path, know about your company’s market (no matter how cool and cutting-edge your service, product or e-concept is) so you can understand who buys it and why, what the competition offers and how your company products or services differ.
• Every successful company must have a competitive edge, whether it’s unique products/services, pricing advantages, company culture (think Zappos), etc. Learn how to define your company’s competitive edge and understand how to communicate it clearly to the whole company so that everyone is focused on making it happen.
• Clearly identify the goals of the company, then work to turn them into specifics. Assure buy-in by making sure employees understand the interaction among their goals, the company’s goals, and those of other people.
• Hire the smartest people available and give them an environment that enables them to produce; then watch your company’s strengths increase in direct proportion to your people’s growth. Remember, people are most productive if they know, and help determine, their work and the range of their control.
• Make sure that there’s an obvious and direct relationship between the rewards people receives—salary, stock, bonuses, medals, whatever—and the success of the company. The biggest rewards should go to those who understand the company’s goals and ethically do whatever it takes to achieve them.
• Create a culture in which the messenger is never shot; that way you’ll always get the earliest possible warning of potential problems.
• You set the tone of the organization. If you’re political, secretive, nitpicking, or querulous, then that’s how your organization will be, because, no matter what, employees will always do as you do, not as you say.
• Never criticize an employee in the presence of others. Praise in public, criticize in private.
• Companies are like tripods, with customers, investors, and employees each representing a leg. If you don’t pay equal attention to each the company will tip over.

Track your choices, decisions and actions against the reality. Give yourself a high five when your ideas pan out, and learn when they don’t.

You’ll be amazed at how fast the learning from your fantasy business pays off in your real work!

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Image credit: Ben Sutherland on flickr

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This entry was posted on Monday, October 26th, 2009 at 4:30 am and is filed under About Leadership, Culture, Personal Development, management. You can follow any responses to this entry through the RSS 2.0 feed.
Tags: corporate culture, Motivation, productivity, professional growth
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