How Do You Become a Chief Executive Officer?
Almost everyone want to become a chief executive officer at one point in life. This is because being a CEO of represents success for many professionals. It is a title that comes with authority, power and prestige. However, being a CEO is not an easy walk in the park. You need to show that you have what it takes to lead a group of professionals and steer a company towards greater heights. Here are things you need to consider.
Get the Right Academic Credentials
A person should at least attain a bachelor’s degree in the relevant field before he becomes a CEO. Those who have master’s degrees and PhDs are preferred more than those with bachelor’s degrees. The academic majors for a CEO may include liberal arts, business management, finance and public administration. However, most people choose to pursue a Masters of Business Administration and related graduate degrees. Some people pursue these programs before getting employed while others enroll after working for some time. MBAs can be done either as a full-time plan or as a vocational program. The subjects covered in an MBA program include strategic management, finance and managerial economics.
Go for Internship
There are several graduate programs that allow aspiring CEOs to enroll for internships. The internship programs allow them to acquire experience while still in school. Other students may choose to study abroad and gain some knowledge on international business, which is an added advantage for aspiring CEOs.
Gain Experience
An individual must have a lot of experience in a specific field in order to become a CEO. Experience enables the individual to provide vision and course for the company to follow. He has a working knowledge of the possible risks and business opportunities that present themselves. He can come up with strategies on how to explore the opportunities while keeping the risks at minimum. Most CEOs gain experience by working their way up the ranks within the company. That is why 79 percent of CEOs in the United States started at lower management positions within the company they currently manage. However, this does not mean that an individual should not look for opportunities in other organizations.
Develop the Right Personal Traits
A CEO should be able to make good judgments and quick decisions when necessary. He must also be willing to learn more, keep good relationships, embrace optimism and listen to others. Someone who learns more can easily adapt to changing environments in the business world. He can apply new and varied approaches to problems and unexpected challenges.
A chief executive officer who values good relationships learns to be more socially intelligent and vulnerable to his shortcomings. This creates trust within the organization.
Embracing optimism leads to confidence. Such individuals can take bold risks while remaining aware of the possible challenges that come with their actions. Listening more than talking leads to increased rates productivity and trust among workers. Employees who work in environments where CEOs listen to all opinions and actively solicit something out of them are far more productive.
Consider Voluntary Certification
Voluntary certification gives aspiring CEOs an opportunity to demonstrate knowledge and proficiency in their careers, leading to more opportunities. Certification requires experience, good academic credentials and enough training.
Related Resource: How Do You Become a Business Intelligence Analyst?
There are over 2 million CEOs who make an average of $102,690 per year in the United States, according to the Bureau of Labor Statistics. The points discussed above will give you some helpful insights on how to become a chief executive officer and benefit from larger perks associated with this position.