Top Five Priorities CEOs Must Have – via Michael Katz
Starting your own startup, let alone trying to run it smoothly can be a difficult challenge. You’re faced with all sorts of decisions and situations that require your attention 24/7. Being the CEO of your company demands you to think quickly on your feet, be commanding at times, and always striving to have your team continue to push forward.
According to Michael Katz, CEO & Founder of mParticle – a company dedicated to mobile developers and app owners to implement a wide variety of 3rd party apps into one simple SDK. According to the company’s website, ‘The company was founded with the mission of making it easier for app owners and developers to run their businesses.’ As CEO of his company, Michael posts a great article via Medium, on 5 priorities he feels CEOs should have. If you want to read the full article, click here.
I’ve gone ahead and summarized his list below:
1. DON’T RUN OUT OF MONEY!
- Michael goes over 2 situations:
- 1) If your cash is getting low, seek out more funds by meeting with investors.
- 2) If you are not low on cash, focus on growth levers (sales/customers/users)
2. Motivate, Support, and Grow Your Team
- You need to do 3 things in regards to this:
- Be open and transparent to your team. Meaning, be communicative and let them know about company milestones, where the company is focused on heading, and more.
- Provide a space where your team members can have open discussions, both publicly and privately. This means to listen and address any concerns your team members might have.
- Stay active in your recruiting. Whether you do it yourself, or have a team member do it, always continue to add new talent and grow your team.
- CEOs need to prioritize and plan accordingly. Be proactive all the time, but if you get stuck, seek advice from experts who can help you (this can be your advisors or board). Also, he emphasizes that CEOs need have contingency plans for contingency plans.
4. Tell The Story
- Have your employees be on the same page as you. They need to know the latest story involving your company. You need to also listen to what your customers say, to grow further. Remember to provide timely updates to your investors and board. Lastly, CEOs should be vocal! – meaning, they should be active on social media, blogs, and other platforms. CEOs are the voice of their companies, and they need to be able to present their stories and vision to their end users.
- Culture starts from the top and works its way down. This means, set your tone right from the start. Stay cool and positive at all times. Don’t let your emotions get the best of you in front of your team.
Overall, Michael’s article is a great piece of advice for entrepreneurs/CEOs. Being a founder himself, his suggestions on priorities are sincere and solid. There’s nothing better than reading advice from others who’ve done it through experience first hand. As an entrepreneur, it’s always great to strive to better one’s self. If you’re an entrepreneur, keep up the good work. Take Michael’s advice to heart, and try to become a much better leader if you can.