First-time entrepreneurs are usually also first-time CEOs. When you look at your first business card that says CEO, don’t forget that it is not necessarily telling the truth.You earn the title of CEO through your actions and your results. You still have your training wheels on. Fortunately, there is probably more advice available on how to be an effective CEO than almost any other subject. This chapter gives you a quick guide, but do invest the time to read the classics, particularly:

* “The Effective Executive,” by Peter Drucker,
* “The 7 Habits of Highly Effective People,” by Stephen Covey.

These are timeless classics. Their authors do not attempt to create any modern theory or expound on any particular business or market trend. The books work because they are based on observation. The authors observed effective people to find out what they did right.

The Effective Executive, by Peter Drucker

Drucker’s “Effective Executive” was written in 1966. It is a slim tome and easy to read, even if the language sounds a bit dated. Drucker focuses on how to allocate time, because you can get more of almost any resource except time. His advice to find time for uninterrupted work is particularly relevant to today’s multi-tasking world. He is also very clear about the need to allocate enough time for people. If you need an hour with someone, don’t think you are being efficient by rushing through the meeting in 15 minutes.

CEOs allocate resources. The first resource they need to allocate is their own time.

One popular book today is “Now, Discover Your Strengths,” by Marcus Buckingham. Drucker was a big proponent of accentuating a person’s strengths rather than managing their weaknesses.

The 7 Habits of Highly Effective People

“The 7 Habits of Highly Effective People,” first published in 1989, is a self-help book written by Stephen R. Covey. It has sold over 15 million copies. Drucker observes the following habits in effective people:

Habit 1: Be proactive
Change starts from within. Most people react to external forces. To lead effectively, you have to overcome that natural tendency.

Habit 2: Begin with the end in mind
You cannot lead unless you know where you want to get to.

Habit 3: Put first things first
This is similar to what Drucker recommends. You need to have a very clear view of what is important, so that you know what to spend time on. Note that this often means leaving your comfort zone by acting on tasks that you don’t naturally like or feel competent in performing. Read more…

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