Sometime around the end of last year, I asked the subscribers of my Telegram channel their opinion of the CEO role.

The answers I received were really insightful, and I agreed with many of them. In this post, I’ll share my summarized view.

The ultimate responsibility for the business results

First off, the CEO is the person who has to answer for everything that happens in the company, good or bad. No matter what happens, what is going on in the business, or what stage the company is in, the CEO has to own up to it all. This is a business leader’s ownership mindset.

This same mindset helps the team in times of uncertainty and challenging situations when a business doesn’t perform as planned. In such circumstances, a good leader does not blame others but takes responsibility for themselves.

Defining strategy

The CEO decides the direction of the company. This means figuring out what we’re all here to do. Why did we, as a business, start all this in the first place? How do we see the future in X years?

Are we just earning money for our shareholders? Do we want to change a particular market because we know it well and are passionate about transforming it? Are we solving a pressing problem in the community? Do we want to provide ourselves with a comfortable living (making enough money by spending 4 hours a week at work and without being an employee)? Do we want to become an IPO in five years, cash out, and enjoy retirement?

All of the above are examples of the purpose behind starting a business. It is possible to pursue one or combine several. But in any case, the CEO’s task is to understand why we are doing this (on their own or through communication with other shareholders if there are any). The CEO must clearly set and communicate the goals to the team.

Building the team

Building the right team to implement the strategy is crucial. No CEO can do it all alone; I am no one without my team. Everything a company does is done by very specific people, and they are not top managers.

What should the team be? What kind of organizational structure should we choose? When do we need to change things? What people should we hire for key positions? How do we keep them?

Creating the company structure, processes, context, and environment

All of the above is essential for executing the strategy. Communication culture is important. Energizing the team is crucial.

The most essential function of a CEO is to create the right environment where everyone can do their best work. This is an everyday job requirement. At the very beginning of the business, it’s about creating organizational charts and building teams. Then, it’s about overcoming barriers, starting high-level negotiations, selling in person, and much more.

What part of the business needs my attention most? What can I do?

How can I motivate my team even more?

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Of course, this is not a full list of things a CEO does. Depending on each specific situation, the set of roles a CEO takes on and the tasks they solve will vary greatly.

Actually, I wanted to write a list of things a CEO should NOT do and talk about micromanagement, for example. But then I realized that there is no such thing a CEO shouldn’t do.

A great leader has to be flexible and apply the tools and approaches that fit the circumstances best. And yes, sometimes it’s micromanagement.