Being a CEO

This is the fourth part of a series of blogs examining why people come to Hattrick Advisory Services for executive coaching and/or mentoring services. Of course, few come to us for only one thing, but these blogs examine the most common themes that arise in our confidential services. You can read the third article in this series here.

About thirty per cent of our clients are either existing or soon to become CEOs. We know from personal experience it can be very lonely at the top. We provide a non-judgemental sounding board as you develop strategies, consider values and how (not) to spend your time. We also have coaches who are experienced working with and serving on boards. We can work with you on how best to serve boards, understand where the line between executive management and governance is and how to work with your board for mutual success. 

Being a first time CEO, as well as being a CEO with some years experience, can  be a daunting experience. US President Harry Truman famously had a sign in his office that read, ‘The Buck Stops Here.’ Ultimately, there is no one else to hold responsible. That can be scary. 

Most people become CEOs after a successful career working themselves up the ladder. They have probably excelled, or have been seen to excel, in positions where they can utilise their technical skills and run well-performing teams. But now they are leaving the comfort zone of the familiar and exposing themselves to a variety of issues which they may know nothing or little about. The result can lead to new CEOs questioning their abilities, asking themselves if they deserve the role if they are somehow an imposter. At HAS we find women, in particular, maybe more questioning of their abilities in their new role (usually because they are more perceptive rather than because they are less effective). 

In my career, as well as having CEO experience, I have been lucky enough to work with some excellent CEOs, some who did the job quite well and a couple who were, from my perspective, out of their depth. Much of what follows is based on my personal experiences as well as a good deal of reading and working with coaching clients who are CEOs or about to be.

Perhaps the main question a CEO, new or experienced, brings to coaching is ‘What am I supposed to do?’ It is the most obvious question and one of the most challenging to answer. Of course, there is the job description. But basically, that says, ‘Do everything, do it better, do it faster and with greater impact.’

We have already written about how being a CEO is a little like spinning plates. There is so much to do, so much you can do, but what should you do? Where should a CEO focus and spend their time? 

Unfortunately, there is no one-size-fits-all answer to this! However, coaching can help each client unravel what works best for them, given their own talents, the culture and focus of the organisation, and the specific things they are hoping to achieve.

If we look at the top issues CEOs bring to the coaching experience, the following are the most common, not placed in any particular order.

• Working with the Board. Ultimately this is where the accountability for a CEO lies. The relationship is key. Many CEOs struggle with boards, sometimes with individual members. At HAS we have various strategies for clients to develop constructive working relations with boards and to see them as allies, working with you to make you and the organisation successful. 
• Where to allocate your time. We often encourage clients to work on what they can do better than anyone else in the senior team, finding where they can best add value. 
• Managing your senior team. Every executive team has strengths and challenges. We work with CEOs to help them improve team cohesion and also offer team coaching to enable senior teams to understand better each other’s working styles and how best to collaborate.
• To delegate or not to delegate? All managers have this issue to consider, and it is the same for CEOs. This often involves issues of trust, seeking perfection, and a lack of confidence. All of these are good issues to work through with a coach.
• Many initially come to coaching to enhance performance. However, the focus will generally be on some of the other things mentioned here because they all impact performance in some way. How can I reach my targets? Exceed them? What can my team do to be more effective? 
• So called softer skills are increasingly coming to the fore in both the recruitment and evaluation of senior executives and CEOs. At Hattrick, our coaches can work through Emotional Intelligence Frameworks with our clients and focus on critical areas for development and further understanding. 
• As CEOs ‘spin plates’ one mindset they need, perhaps above all else, is dealing with ambiguity and complexity. Often they will come to the CEO role from a technical one, where they feel fully in control of the information they received and the data available to reach a decision. Often, a CEO may not fully understand the data, may have to make a decision more quickly than they would ideally wish, or may feel overwhelmed by both the data and the number of competing opinions on what to do next. Coaching can help you develop techniques and mindsets to come to terms with ambiguity and to understand that perfect conditions rarely exist for decision-making. 

• While ‘systems thinking’ isn’t a phrase many CEOs come to us with initially, it usually becomes a subject of discussion. We are all part of multiple, complex, overlapping systems. We often work on who the client’s stakeholders are, who will be impacted by decisions, and who needs to know. 
• Something else that may not be on the surface of a client’s decision to come to us is identity. What are the various roles you play, the identities you assume? What values matter most to you? Why do you do what you do? 
• One thing every CEO worries about is what is usually called ‘work-life balance.’  At HAS we prefer to talk about the integration of various aspects of an executive life. What matters to you most? What are the key drivers? What do you need to do to focus on what really matters while not neglecting other aspects of your life? 
• As a CEO thinks of moving on to something else, they will often wonder about succession and legacy. Coaching can help provide you with a perspective on these issues, understanding where you are in your cycle, where you want to be and how you may be able to get there. At HAS we won’t use the ‘retirement’ word unless it is something a client specifically desires. 

As a new or aspiring CEO you will be thinking of many of the above issues, wonder how to spend your first weeks and months (or even a US Presidential style for 100 days). This is a perfect time to contact us and discuss your particular needs and aspirations as you move into a new role. We also specialise on transitions and can walk with clients through significant changes, promotions and new opportunities.

Of course, CEOs, new and potential, are above all human beings with a range of qualities, hopes and fears like us all. That’s why in coaching we talk of coaching the whole person, not just a part. That’s why when you bring an issue like performance or meeting targets to a coach, they will want to explore with you the many factors that impact on your performance, including the systems you operate it, the culture(s) you embrace and the desires, values and motivations behind what you do. 

If you are a CEO, new or long standing or an aspiring one, talk to us. We can help partner with you on what can often be a very lonely journey and help you bring the best mindsets and approach for you to the role and to your wider ecosystem.