Ready to lead? 4 tips for becoming the CEO of your own business

You’ve taken the next step in your career and decided to start your own business. Congratulations! But what does it take to become a CEO in the first place? How do you harness the traits needed for leading a business and channel them through your company? Read on.

Everything starts with a plan

Detailing the objectives and goal of your new business are the first step to bring you closer to your vision of being your own boss and running a successful company. Consider this stage the foundation for your business, which should include a management plan, an analysis of the market you’ll be operating in, your cost structure, a recruitment plan, a marketing strategy as well as timelines and targets for the first year of operation. Once you begin implementing your plan, stick to it, but be flexible for change along the way.

Networking is critical

Assuming you’ve got the necessary funding and paperwork in order to kick off your business, a crucial aspect of positioning yourself as a leader is establishing a network of contacts that the success of your company will very much depend on. Develop relationships with regulators, suppliers, potential customers, CEOs from other organisations and influencers in your industry, and turn up at events and conferences, with the aim of engaging with other professionals to forge meaningful business relationships that may last a lifetime.

Make sure you have the goods

You can’t talk your way through owning and running a business without having the goods to show for it. A prerequisite for hiring a CEO within a company is a solid educational background, preferably with a qualification in business management. Personality is also a top trait of successful CEOs – being approachable, able to listen and communicate effectively are qualities that will take you a long way with your future team.

CEO state of mind

Whatever challenges, problems or obstacles your company will face will eventually stop with you. Making difficult decisions that will keep your business or organisation moving forward is a central part of the role of a chief executive. Expect to make mistakes in the process, but it’s how you bounce back from them that demonstrates your potential as a successful leader, and your ability to learn to avoid making them again in the future.