(4) Not delegating responsibility
A lot of CEOs are control freaks and perfectionists. Although these attributes probably lead them to the successful position they are now in, learning to let go and trust other people with company actions, can be difficult.
Creating a strong management team that understands your ethos and values will allow you to delegate responsibility and concentrate on growing your company.
Fundamental to this is forming a clear company structure, ensuring specific roles are assigned so you can focus on developing how to take your business to the next level and avoid CEO mistakes.
(5) Not listening to ideas and not admitting that yours may be wrong
Wrestling with hundreds of different ideas and opinions is part of everyday CEO life. Bouncing ideas around your company is important in ensuring employees feel included in progression, but it is a tough learning process.
Listening to others, rather than just pursuing the ideas of the CEO, will generally lead to more creativity and less of a streamlined company image. Multiple brains are better than one after all!
Even if the CEO’s ideas are pursued, if one is to fail, admitting defeat is admirable. A CEO should be selfless and identify what is best for the success of the business. A lot of the time this will involve swallowing your pride and admitting someone else got it right.
Phil Blaydes is the co-founder of Talentful