Being a chief executive may sound glamorous and powerful, but it comes with its own unique set of responsibilities. The daily scrutiny and pressures are intense for the public figure at the helm of any company. A CEO must control the company’s vision, find and secure funding and the right employees, build great culture, prove that they can make good business decisions and set and exceed a high bar for success. Not only do they do a lot of heavy lifting, but they must do it with a smile on their face and a spine of steel.
This list of role requirements isn’t suited to everyone. It takes a specific type of person to be successful in the top spot. In fact, the characteristics of a successful CEO are identifiable. Here are four essential behaviors that execs must demonstrate to win the top spot and thrive once they’re in it, according to the Harvard Business Review:
- Making decisions with speed and conviction, providing crucial direction and consistent momentum even amid uncertainty.
- Engaging staff and stakeholders for maximum business impact, driven by keen insights into stakeholder priorities.
- Adapting readily to the unexpected, taking the long view of and learning from any setbacks.
- Possibly the most important factor: Delivering reliably because boards, investors and employees trust predictability and a steady hand above all else.
I have worked with CEOs and company founders for more than 25 years, and I can say with confidence that the call of duty makes many chief executives feel alone and isolated. I’ve begun to call it “Lonely CEO Syndrome” over the years, and its symptoms will not go away without specific action on the part of the exec experiencing it. The remedy is having a strong support system that a CEO feels safe in communicating feelings of loneliness, hesitations or self-doubt.
While communicating uncertainty can seem counterintuitive for the person who is supposed to have all the answers, all leaders—new and seasoned alike—benefit from the outside wisdom of thoughtful, affiliated advisers and listeners with whom they can be comfortable and vulnerable. Vulnerability and self-awareness allow people to grow, CEOs included. The CEO is still the boss, even if they are growing and learning. With that in mind, here are some key ways CEOs can manage their Herculean role and avoid or remedy Lonely CEO Syndrome:
Establish a tribe of trusted advisers
I learned at IBM and JPMorgan Chase that every successful chief executive needs at least one trusted adviser. CEOs need to be able to openly explore challenges and voice fears, then return to the office knowing they’ve properly vetted their choices and views. Behind the scenes, many CEOs have people to call when a crisis hits or when they need to bounce ideas off someone who is not a subordinate. As a rule of thumb, trusted advisers should be people who have been CEOs or who have advised them in the past and can keep what’s said in confidence. It’s also critical to have a few advisers outside your company, but who understand your business, recognize the pressure you’re under and can help think through decisions. Creating a tribe of trusted people to turn to and chew over things with ultimately helps CEOs better communicate with the board or employees, create a future with scalability or expand your executive team with the right personalities and skills.
Engage with a peer group
Peers are vital to any CEO’s success, but unlike most advisers, people who are all sitting in the boss’ chair face the same challenges daily. Being a part of an organization such as CHIEF, the Entrepreneurs’ Organization, Tugboat Institute or Vistage empowers CEOs by connecting them with other chief executives who can share in experience with mergers, board conflicts, personal stress or investors. These organizations carefully vet members to ensure CEOs link up with others with whom they can have confidential conversations on personal and professional concerns. Such connections carry an authenticity and space for mutual understanding that can become a lasting, valuable resource.
Cultivate a communications style
CEOs protect the company’s vision, and they are also charged with making that vision work. That of course cannot happen without buy-in and team effort within the company. As Joel Trammell points out in his book “The CEO Tightrope,” becoming a CEO often arrives with the “sudden realization that there is a need for constant storytelling to win over the minds and hearts of employees.” Not all CEOs are natural storytellers, but this is a trait that must be developed to become a great leader. If your communications style doesn’t reflect brand values and your messaging doesn’t resonate with employees, you’re not advancing your company’s vision. If weaving brand storytelling into your communications doesn’t come naturally to you, you’ll need a trusted communications director or adviser. This person can help you establish a style for everything, from internal presentations to interviews to emails. Lean into the craft of effective messaging and embrace the opportunities it creates to communicate authentically, establish good relationships and drive employee engagement for company productivity.
A company with a healthy and productive environment is rooted in that of the well-being of the leadership. How challenges are handled and the stresses that are displayed can directly impact the overall atmosphere of the organization. Your employees count on you to provide them with a safe and comfortable space.
For many CEOs, defining the boundaries between work friends versus personal friends, professional versus private events, and job time versus downtime can be tricky. The potential for blurred lines is everywhere and unavoidable. You go to the gym and run into people from the office. You go have a non-work-related dinner with clients, partners or investors. You regularly attend industry coffee meet ups or networking happy hours.
Making the distinction and keeping boundaries between work life and personal life is critical for keeping Lonely CEO Syndrome at bay. Studies show that CEOs tend to maintain the position for two to five years before being let go or pushed out. If you spend a large amount of your social time with people associated with the business, loneliness will become an even larger issue if or when your term as CEO of the company comes to an end. Actively building friends and family time into your social schedule and establishing balance between work and home activities are essential. This will ensure you create and nurture a support system that is unrelated to your professional life.
Any easy way to expand your social horizon is participating in activities you love or want to explore. I’m not referring to business clubs, but rather opportunities for cultivating new relationships around activities that enrich your life and allow you to decompress. In Austin, for example, Austin Rowing Club, Gilbert’s Gazelles, Crux Climbing Center, Austin Film Society and the Wine & Food Foundation are examples of groups that host events and get-togethers that attract people of diverse backgrounds and interests.
As CEO, you are ultimately responsible for every aspect of your company. The weight of that obligation can bring out the best and worst in a person, so be good to yourself and take the important steps to create the best you.
