The Leadership Lessons You Can Expect to Learn After Becoming CEO

Lilit Davtyan is the CEO of phonexaan all-in-one marketing solution for calls, leads, clicks, email, SMS, accounting and more.

The journey to become a CEO is characterized by hard work, constant learning and acquiring knowledge from the lessons learned along the way. Every CEO acquires leadership skills before even being offered or accepted such a role.

As CEO of Phonexa, I have amassed a wealth of knowledge and experience through my own efforts and interactions with fellow C-level managers. While I learned a lot on my way to the C-suite, I continue to learn lessons as a way to challenge myself and refine my capabilities as a CEO.

To be a truly effective leader, you must always be aware of obstacles that may arise and use those moments as learning experiences to hone your leadership skills. The following are just some of the leadership lessons I learned after assuming the CEO role.

Credibility is paramount

Building relationships with your employees is a top priority when entering a leadership role. For CEOs and other leadership team members, gaining employee support requires credibility and trust. You cannot become a successful CEO without building trust and relationships with your team.

CEOs can build credibility by using learning experiences to drive the professional development of their team members. When an employee comes to you with a problem, use that opportunity to teach them how to solve the problem instead of solving the problem for them. For example, if you spend about 10 extra minutes helping your team member solve a problem, they probably won’t need your help the next time they encounter similar problems.

By mentoring team members and learning how to solve specific problems, you don’t have to solve each problem individually, saving time and increasing productivity. Be aware of all the problems – big or small – within your organization, know the problems inside out and always use these experiences to educate your team members. Pass on valuable lessons that they can use to hone their skills and advance their professional development.

Don’t leave problems unsolved

A strategic way to cultivate employee confidence is to take a no-hassle and unresolved approach to addressing issues within your organization. This takes the open door policy one step further by ensuring that no employee questions or concerns are lost in the shuffle. This is especially important at a pivotal point or critical point in the business, as it helps build trust within your organization by showing employees that all input matters, no matter what department or area they work in.

I dedicate Fridays to my open door policy. I make sure to schedule my time so that all my work is done before Friday so that I can address any issues that require my attention. This method works very well because whatever the outcome of these talks, all parties have the weekend to reflect on our discussion

Keep an eye on the finances

One of the many important lessons I learned as CEO of Phonexa is to always make sure you stay in constant contact with the finance department. Even if you don’t have a finance background, you can keep an eye on finances by making sure your finance department provides regular updates on your company’s simplest happenings from a numbers perspective. With every decision you make, keep your finances in mind, and doing so will help you become a better CEO.

Identifying internal growth opportunities

An important lesson I learned from David Gasparyan, the founder, president and previous CEO of Phonexa, is that it is always better to identify an opportunity and make a decision today than tomorrow. However, there will always be decisions that require more time, as the outcome affects your entire organization. One such decision comes with the decision to hire external talent or promote internally for a leadership position.

I’ve seen our organization hire leadership from outside the company and promote talent from within, and I recognize that there is a degree of credibility associated with internal promotion. I was one of the leaders who took advantage of this added credibility when I was promoted to CEO after seven years with the company. I’ve learned that hiring or even changing people’s roles internally across the company will result in better employee retention and greater respect for leaders hired from within.

Final Thoughts

Achieving the CEO position requires hard work and dedication, and you should congratulate yourself on your achievements. As a CEO, half of your pay should come from recognizing your achievements. The other half comes from watching your employees grow. When I see that my employees are satisfied, I know that I am doing my job to the best of my ability. For new and experienced CEOs, appreciation from team members is an indication of effective leadership. Business Council is the leading growth and networking organization for entrepreneurs and leaders. Am I eligible?