Have you ever wondered what it takes to become a CEO? There are certain competencies needed to become a successful leader of a business; some are born with natural leadership skills (and have the experience and expertise to match), whereas others may need to develop these skills over time. With the business world in constant demand for new and innovative ideas, could you be the next Mark Zuckerberg or Richard Branson?
 
Here are the top 5 skills you need to become a CEO or simply improve yourself as a leader.

1. TAKE ACTION 

A CEO should be able to make effective decisions. You must be able to adapt to changes and design strategies which benefit the company’s profitability and credibility. As a leader, using the assistance of your team in decision-making can be beneficial. Keeping an open mind towards different strategies can enable more ideas to be relayed and this can help the business to achieve its goals and objectives.

2. INSPIRE OTHERS

As Apple’s Co-Founder Steve Jobs stated, “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work, and the only way to do great work is to love what you do”.
A CEO is the face of the company and should represent the personality of the business. Having a positive public image can shape and affect the company’s success rate. A successful CEO will be able to inspire their team as well as the public whether rain or shine for the organisation.

3. SPOT TALENT

A leader should be able to spot the right talent to enhance the success of the company. A leader is nothing without his or her team and vice versa. As American industrialist, Andrew Carnegie has stated “Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommon results.” A CEO should be able to recognise and evaluate valuable, transferable and positive qualities in others and put these to the best use for the company.

4. BE CREATIVE

As well as being a logical thinker, it is also advantageous to be creative. Industries are constantly changing; introducing fresh new ideas and strategies is essential to bring the business to the forefront. Constantly using the same strategies and methods will not always be effective. The ability to innovate can help the organisation stand out amongst other competitors.

5. BE A FORWARD-THINKER

Coaching your team effectively is important for any business. Being able to give your team the correct tools and resources can impact a positive change within the company. Preparing your employees carves out a steady future for the company, by training your staff effectively you will be able to show them how to succeed.

Did you know 23% of FTSE 100 CEO’s are chartered accountants and 55% of the UK’s CEO’s are reported to have a financial career background? That’s according to a report created by UK recruitment firm, Robert Half; their UK managing Director, Phil Sheridan stated “In these increasingly complex global operating environments, leaders who are able to traverse the commercial landscape while maintaining strong fiscal responsibility are in greatest demand.” 

The industry needs financial talent and with the correct training, experience and qualifications you can be one step closer to becoming a successful CEO and an inspiring leader. AVADO offers award winning Accounting AAT & ACCA courses to help you take the next step in your career.