Most business owners / entrepreneurs start their businesses as experts in some field. That is, they are a technical or product expert with a product or service that they offer to the public and thus the business is born.**
But this does not mean these business owners have the skills essential for running a business. Hence, many business owners and entrepreneurs suffer and are unable to grow their business without understanding the problem.
Certain skills are necessary to progress from technical expert to CEO. If you, as a business owner, are struggling in these areas, then getting training to master CEO skills is one option. Another option is to delegate the business management job to others skilled in handling those tasks and allowing them to manage the business. You might remain as business owner and hire a CEO or Business Administrator who does all the work for you. Or you might hire individual people for specific tasks, such as a personnel manager to hire and manage staff, a finance manager to handle business finances, and an operations manager to handle organization quality, productivity, and efficiency.
Whatever path you choose, knowing about vital CEO skills will also help you understand your own strengths and weaknesses and choose the right strategy for your business. Here are 7 CEO skills vital for running a business
1. Ability to Build and Execute Strategy for the business to efficiently grow and expand.
2. Hiring and Delegating tasks.
3. Collaboration and Building Relationships.
4. Leadership.
5. Communication.
6. Open-Mindedness and Adaptability.
7. The Ability to Let Go of Employees.
Written by Kokab Rahman.
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**Credit to Lewis Schiff, Forbes Contributor and Founder of Birthing of Giants for insight on the distinction between technical experts and CEOs.
