How Do You Become a CEO?
Here is another question i received via email
“Hello. I am in the process of finishing college. What is the first step in becoming a Chief Executive Officer and do you actually start the position as a CEO? Hopefully you can thoroughly explain my question. Thank you.”
This is a great question and a tricky question as i am sure no two CEO’s have ever really taken the same path.
The most obvious way is to start your own business. Of course you need to have a good idea, great funding and a passion to make it happen. For most people this is not a good path as they may not have one of the above requirements. You could always buy one – but you need to have the money!
The other approach is to become the CEO of an existing company. Now either they are promoted from within – therefore you will have to join a company and work for a few years (or many) to work your way to the top and demonstrate that you have the ability to do it.
The other way is to build your skills and to then apply for CEO roles. I reckon a good CEO has a strong understanding across multiple disciplines – finance, marketing, sales, production, strategy, hr etc. To do this you can study (boring) or get real life experience.
I took a combination of these last 2 – i have an MBA and i have been in sales, marketing, technology, and management consulting. I have enough experience in each field to know which questions to ask and what the likely answer is to be (thus ensuring i am not bullshitted)
The bottom line – get a job in sales and marketing (the most valuable of skills) and then do an MBA … this will at least give you some experience and some additional training.
One last thing – you need LOTS OF LUCK and be prepared to TAKE RISKS!
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Really? I must say, as a venture capitalist I do believe that your assessment of sales and marketing as the most valuable role in business as a severe mistake…then again, as I write this I fear that your mistake has become self evident, you are, after all, in real estate, a market in which any real sales and marketing expert would have seen as a “castle in the sky”, a market waiting to bottom out. But, if I am mistaken, which entirely hope that I am, I look forward to your response.
John
Thanks for the email.
I am actually not a realtor but was the CEO and Managing Director of the REA Group – Australia’s largest property portal site. Therefore while they serve the real estate market, they are actually a media company. The business does over $150m in revenues, is highly profitable and has a market cap > $1bn.
While you say that sales and marketing is not the most valuable role in a business, you failed to indicate what is the most valuable role or why sales and marketing is not. I would be interested in hearing your comments.
Thanks
Simon Baker
CEO
Classified Ad Ventures (Publisher of My CEO Life)
Hi Simon,
I have read your many articles on the REA group.Well done for your performance as CEO.I think as a non company owner with no experience that for a CEO in general ¨even as the rewards are good and there straight away¨ I think starting a business from the ground up is much more interesting and at the end of the day they cant just say chow for all your hard work as long as you have most of the holding in the company.I think underneath you are far more happier in your new venture company.Interested in hearing your comments.Would I be right?
There is no skill set which is the most valuable asset in business administration. You must have aquired a well – balanced skill set in financing, communication, marketing, sales,and human resources to become a successful executive.
golf is very useful in moving your way up the corporate ladder
Hello,
my name is Kara. I am currently a high school senior and have been seriously considering being a CEO one day. This year I am taking regular school along with occupational school. I am not taking it for credit but because it interests me. This semester i am taking Banking and Finacial, and next i am taking Business entrepreneur/marketing. im curious as to what i can take in college. Perhaps some insight on what i could do or take in college that would be a smart move.
Thank you
Kara
I am recently a college freshmen student. I am also confused about being a ceo. I have no idea where to start. Should I di MBA, or something else (degree) I need to work for becoming CEO.
An MBA in business administration, organizational management, finance, accounting, even engineering can get you into a CEO slot. It just depends on the industry you are interested in. If you plan to be the CEO of Boeing, then it would be a good idea to have a degree in Aerospace Engineering along with a business management degree. If your goal is to become the CEO of a large chain of resorts then a degree in Hospitality management can get you there. Look at the field you are interested in, assess the appropriate skills and education set you will need for the industry you are interested in.
For example, my goal is to break into casino management in Las Vegas. I did my research and I have concluded the best route to this position is to start with an AS in Hospitality Management. This will give me the skills needed to manage the hotel, the resturants and lounges, and the casino. It will also give me experience in event and catering management. These are all services that are offered in a large resort in Vegas. I will then move onto the the Oganizational Administration degree for my BA. This will further broaden my management skills along the lines of finance, accounting, human resources, leadership skills, and marketing skills (just to name a few). I will finish off my education set with an MBA in organizational management.
While I am working my way through college, I will obtain employment in the various industries that are within a resort environment. For example, I have worked in security and law enforcement for 13 years. I have mangerial experience with employees who are unionized, I have scheduled, hired and fired, evaluated, and disciplined. All skills needed of a high level manager. I will also be obtaining employment in the resturant industry to gain experience as a waiter, cook, barkeep, and act in a management role to obtain the experience (not just the education) needed to understand and run a bar and resturant from the ground up. (starting at the lowest level position, in order to truly understand a business you must be able to perform every job within that business). I will finish off my exerience with a stint at a local hotel and gain experience in all areas required. I already have plenty of retail and marketing experience.
Now look at the industry you are interested in becoming a CEO of and obtain the education and skillset needed to rise to that position. Not only will you gain the respect of your suboordinates becase you have worked at their level, you will demonstrate the ability to be flexible and apply your skills to any part of the organization.
And I think I will take a typing class because my typing has gone down hill lol.
how many years does it take to be a ceo