I was reading through Mark Suster’s Both Sides of the Table (just subscribed by e-mail yesterday!) and stumbled upon his article My life as a CEO (and VC): Chief Psychologist and as listed by Fred Wilson, Matt Blumberg and Howard Lindzon (all in Mark’s post) a CEO does the following:
- Sets the overall vision and strategy of the company and communicates it to all stakeholders
- Recruits, hires, and retains the very best talent for the company.
- Makes sure there is always enough cash in the bank.
- Don’t be a bottleneck (make sure you aren’t holding up people’s work)
- Run great meetings (don’t be a productivity drain on the company)
- Stay fresh (be mentally and physically fit & attuned to what is going on in the world)
“As a CEO of a venture backed business myself and founder of many others, I would add one thing…Thick Skin.
If you fail, you need to start all over. As you start to succeed, you will hear from people like me…’armchair quarterbacks’ . If you really succeed, everyone wants you to fail eventually so you need even thicker skin.”
I liked Mark’s condensing it to just Chief Psychologist. I’m printing out his article (digitally, onto my Dropbox) for safekeeping.