We all know that there are many different ways of measuring success and that it’s not just all about money. There are many examples of CEOs who have made their businesses flourish in their own unique ways, and each one has their own suggestion on how aspiring CEOs can do the same.
1. Know your values and set goals. For Ben and Jerry’s CEO Matthew McCarthy, success means accountability. McCarthy has been outspoken on issues such as income equality and social justice. He states that:
“Business should be held accountable” and “If you don’t put goals around these things, they simply don’t happen.”
What is the takeaway? Know which values are important for your company and set business goals to achieve them.
2. Take responsibility. CEO Dan Price made headlines for the considerable income reduction that he took on in order to be able to pay his employees at Gravity Payments more. He remains confident that this will make his business stronger in the long run.
“For me, I really do view everything I do as a responsibility.”
Price’s priceless advice? Take responsibility for yourself and the rest of your team!
3. Cultivate a passionate team. Cindy Mi, CEO of ABC teaching describes what was most critical for her business:
“The real barrier, I think, is the passion for education from the team, and our teachers.”
Cindy Mi’s business success came from the strength of her team, so whatever your business idea, make sure that your team is just as passionate as you are!
4. Be conscious of your impact. Sim Tshabalala of Standard Bank has been clear on his stance towards sustainability and development. He declares that the Standard Bank is:
“committed to Africa’s long-term wellbeing and to generating social, economic and environmental value – an outcome that we regard as just as important as our financial results”
The success of the Standard Bank goes to show how rewarding it can be to be conscious of your company’s environmental and social impacts.
5. Be consistent in your vision. The CEO of AMD, Lisa Su, shares how she raised the company back up to success after its years of decline.
“It’s not what you do today but it’s really what you do year after year, after year that people pay attention to.”
The key here is to know what you envision for the future of your company, and to stick to this vision throughout the years.
6. Make use of your surroundings. For Barclays Africa CEO Maria Ramos, the key to business success lies in knowing what your environment has to offer. In her case, what Africa offers is the potential of its youth.
“We are seeing that whatever we are investing in our future ends with our youth. They are starting to take shape and produce the most unbelievably energetic release of capability and talent.”
Ramos’ lesson? Take full advantage of the potential of your environment.
Each of these CEOs has managed to create or oversee a thriving business, and have done so whilst taking into account their employees, their surroundings, and their customers. Though no two business formulas are the same, there is a lot to learn from looking at how other CEOs around the world are re-writing the definition of success.