Running a startup is hard, but the ones that do well have an excellent CEO. They must have great skills, for hiring as well as firing an employee. It is considered one of the toughest jobs in the world of business. Hiring CEO (Chief Executive Officer) with tremendous potential is of vital importance for a Startup.
A CEO must be more street smart than book smart. Here we will discuss 9 qualities to look for when hiring CEO for your Startup. Many of the best CEO in the world are good at understanding customer behaviour. A Startup is in need of a CEO when it starts reaching a booming state. Let’s discuss the top 9 qualities.
Hiring CEO with great vision
The CEO must be experienced and visionary enough to lead the Startup to a new height. A good sense to know what is going on in the industry and with the competition. This is the first level of building a winning business plan. The CEO must shape the vision in such a way it is unique and competitive than current solutions in the market. Need to be a problem identifier and solver. So, he or she must have great leadership quality and must keep his emotions aside when it comes to the betterment of his company and should be daring enough to fire a person from the job.
The ability to be innovative and a risk taker.
Hiring CEO, who is ideal to predict the future and form strategies that effectively combat change and result in high grossed profits for the long term. The ability to calculate the risk after analyzing the in-depth evaluation of the probabilities associated with the profit and loss outcomes of the decision. Any candidate who is not a risk taker is not suited for this job. The inability to take the risk can compel the company to lag behind their competitors, although, the risk must not jeopardize the profits and prestige f the company.
A motivated person with great passion.
This is an obvious trait for hiring CEO. Managing a Startup means you have fewer employees and you must have “ TYPE A” personality to run a booming enterprise and a workaholic to give better results. He or she must keep an eye on top trends in the market and motivate their employees to gain success on the mentioned time. For example- CEO of Paytm, Vijay Shekhar Sharma, who is an Indian Entrepreneur who made a revolution in the market of mobile wallets and took his company to unbelievable heights. A great passion for work to navigate a ship over time.
Strong team management skills
The CEO’s skills must include strategic thinking, predict the future and should be able to control the budget. He or she must form a good management team to lead their business in the right direction. Unfortunately, good employees do not grow on trees. Since their decision can make or ruin your business, so you want the best. Once you have got potential candidates, you have to find out what job is best-suited for them. The CEO should be capable of hiring smart people and distributing responsibilities according to the potential of their fellow employees.
Monitor trends and advance accordingly
The CEO’s job is not only to set a vision but, also follow key trends. Therefore, hiring CEO who must be a trend builder and must make sure all the staff are on the same page as to what they are building. He or she is not only the conveyer of the vision, but the CEO is also the consensus builder of that vision and the captain of the ship. They must be factor oriented and should not micromanage. They must keep their self-interest aside and make good deals to keep the ship floating.
A good salesman and a deal maker.
For a Startup, the best salesperson must be a CEO. Sales must be the part of the designation and description for hiring CEO. They are innovators with a tremendous drive to succeed. By bringing their experience, unique talent and salesman qualities, CEO’s can secure their position on the top. The hunger to learn and make an effective sales process can make him gross huge profits and revenue for his company which can give them a secure financial future.
The person who is a perfect deal maker and regularly communicates with his clients can lead his company to skyscrapers. Therefore, the CEO’s must secure their position as a top salesperson and effective leaders.
Enjoy a certain level of tension and willing to learn from fellow colleagues
Hiring CEO who is able to take the workload without any resistance is very important and one of the most obvious traits. The person who is willing to learn every day can make your organisation a learning organisation that can adapt and implement based on things in the marketplace.
Inclusion in decision- making
When hiring CEO for your Startup, you must keep in mind that he is confident In making decisions by involving other important staffs and managers of the organisation. The CEO must consult the fellow colleagues and subordinates in order to achieve a common goal or objective. However, hiring CEO who is an independent decision maker during the pressure periods is something which cannot be neglected.
Ability to trust others
A culture of mutual understanding and trust must be developed by a CEO whereby the CEO is able to trust other colleagues and subordinates. However, the CEO, must not hesitate in sharing authority within his employees, but must also not overlook it. So before hiring CEO, this quality must be considered, unlike others. This indicates although the CEO must delegate authority to other members, the ultimate powers are within the hands of CEO and therefore he or she is capable of taking back the authority provided to the subordinates.So, trustworthiness and conscientiousness are required when hiring CEO.
The top 9 qualities that we discussed plays a vital role when hiring CEO for your Startup. Only 10% of the world, CEO’s are above perfection according to many business research organisations. They are the one who can lead a company to skyscrapers and sometimes can doom or ruin it too. So all these qualities are required in equal proportions for a perfect balance. All these qualities walk hand in hand so nothing should be missed when you need a CEO for your startup.