Previously we talked about the reason CEOs get fired. There are many insights on why the CEOs get replaced or fired. But how do you not get yourself fired as a CEO? There is no proven method that shows that you can't get fired. Sometimes people even get fired from their own company. So you should never think that you will never be fired and replaced. With that being said some common practices can help you stay with the company.
- Know you can get fired
- Growth in Sales
- Spend time with your team
- Let go of people who don't add value
- Develop new leaders
- Bring new Customers
- Take care of existing customers
- Develop new partnership
- Make people accountable
- Develop a company culture
You need to keep reminding yourself constantly that you might get fired. You should never think of yourself as such that you are irreplaceable. You are not. You need to develop yourself as the company grows and keeps up with it. Show dedication and inputs into the company and remind people around why you are essential for the future growth of the company. Aways provide more of what you are asked for. You are the one your employees look up to, so you should be the one working hard alongside your team. Once your employees see you working your ass off they also will be motivated to work without any expectations.
One best way to keep board members happy is to show improvement in performance. They always tend to look into the numbers and they will be happy to see growth in your sales. Investors and board members always like to see the company generating revenue not losing money. Always maintain a good relationship with board members. You might differ with their ideas but you need to make sure you can agree on some common grounds.
The rule of business is always keeping your customers happy. Remember the customer is king. If you have no customers, you have no sales. And if you have no sales, then you have no business. So no matter what listen to their needs. They will be the ones who will give actual feedback on your products. Always attract new customers but also maintain a good relationship with existing customers. If your existing customers are not satisfied with your services it is very much unlikely that you will get any new customers. So always keep in mind to serve those who came first. Only then they will refer you to others.
After your customer, your next focus should be on your team. Always get engaged with your team members. Get to know the people you are working with. Only then you will know about their potential and can position them as their need. Make sure your team stays happy and motivated to work. Do provide them with problems, rather help them find solutions. As lovely as a CEO should be, you should also be responsible in decision making and sometimes you need to take some strict decisions even if it is harsh. Get rid of people who are not bringing any solutions to the table and people who don't add any value. They could be the best of people but if they can't provide what is expected from them, then there is no use of hanging on to them. So let go of useless people from your team and attract people with talent.
It is always better to look for new leaders within the company. Always look for new talent. As a CEO your job is not to micro-manage but build future leaders who can get work done and manage teams. You can't keep track of everything single-handedly so build a core team that can do the work for you without you even asking. Your employees should know what they are expected to do. Once you develop a team that you can trust and who can bring good results your business will eventually start to do good. You should also hold people responsible for their mistakes and they should be accountable for any. Don't hesitate to replace someone or fire someone if it doesn't work out. Or else you will be the one replace soon.
So these are common practices that might avoid you from getting fired as a CEO and will help your company do better.