7 CHALLENGES TO BECOME A REAL CEO

CEO is not a prestigious award. It is a tough challenge and heavy responsibility of the person holding this position. The secret to becoming a real CEO, recognizing your talents and promoting your strengths.

1. New product is your brand

The secret to a great marketing strategy is to create a “unique” product that everyone needs at an unbeatable price. No matter how much you promote your own image and business prospects, without a good product that customers want to buy, your business will fade and be forgotten.

2. If you don’t sell your vision, no one can buy it

Everyone knows that a strategic vision is very important for a business. What’s more important, however, is that you sell that vision to your potential customers, investors, and employees. If even they can’t empathize with your plans and dreams, you won’t be able to take your business far. You need to think about this so much that even in your dreams you find yourself giving a presentation about your products.

3. Always have money in the bank

Most small businesses fail first when there is no capital left in the bank. If you’ve never sold your idea to any investors, you’re probably not really fit to be a startup. Because the market will have many surprises compared to the plan on paper.

4. “One profession for nine”

Everyone knows they need to be “different,” but very few understand what it really means. “Different” here means that you provide some value to your customers and only your company does it best. Once you understand this, focus on making this difference.

5. People-based business

Business is not about building a personal brand, network or Twitter of the business. Nor is it engrossed in blogging or getting too hung up on LinkedIn or Facebook posts. Business is about people – about building relationships. If you want to do business in the real world, you have to connect and build relationships with real and real-world customers.

6. Know what you’re doing

Only passion is not enough, because if you do not identify the goal you are aiming for, you will fail. You need to make informed decisions – an experience that comes from both your intelligence and your stumbles. And never be complacent that you’re smart enough to learn and admit mistakes.

7. Recruiting, encouraging and respecting talented people

This is one of the most difficult aspects of running. There are many CEOs who have failed to recruit and incentivize talent. That problem is a common danger for small businesses as well as businesses that are still young.
Don’t be in a hurry to immerse yourself in the CEO’s fame, but make an effort to become a meaningful CEO, leading the business to overcome difficulties and challenges. On the arduous journey of starting a business, if you fail, don’t give up on your dream. Instead, believe that you have just passed a valuable opportunity to be different and more mature.

Source: Businessman SG