As a
rule, there aren’t many of them: those fast-thinking, hyper-successful CEOs
that have their companies on the move, setting strategy for the short term and
the long haul, always ready with an all-important pivot, keeping investors
happy in one room, developing radical new tactics with a visionary’s confidence
in the next, all the while holding competition at bay.
Indeed,
they are a special breed.
But being
a top business executive involves more than simply sipping scotch and gazing
wistfully out the window of a high-rise corner office. It takes some work,
sometimes a lot of work.
We asked
the heads of enterprises in the upper echelon FORBES’ top small companies list
what they do on an average day. As they told us, some themes began to emerge.
People
Whether
reaching out to investors and customers or in a huddle with employees, top CEOs
spend more time managing relationships than doing just about anything else.
Effectiveness in that arena, it seems, is the cornerstone of any leader’s
success.
“Once I
get to the brewery, I’m meeting and interacting with our people: from beer
taste panels to board meetings, to conversations with hops dealers and interviewing
new employees,” says Jim Koch, founder of Samuel Adams and Boston Brewing
Company, which ranked 12th on FORBES’ list.
When he’s
not meeting with people, InvenSense INVN -1.87% CEO
Behrooz Abdi is keeping up with his own people. “During breaks between
meetings I walk around to interact with the organization and get charged up
with all the activities within the building.”
For
Cirrus CEO Jason Rhode, it’s about quantity time, not quality time. “I spend
the most time meeting with people inside the company one on one, either
formally or informally.
It’s more
difficult to keep tabs on employees when you run a global enterprise in several
time zones. That’s no excuse for not making the effort, says Arkadiy Dobkin,
CEO of EPAM Systems EPAM -0.5%. It’s
the only way, he says “to feel firsthand what is happening in different parts
of the company.”
A good
portion of a CEO's day is devoted to strategy (image credit: Ffaalumni on
Flickr)
Any
enterprise needs a strategy, and since few battle plans survive first contact
with opposition, the need to rethink tactics never ends. “We have a series of a
dozen key process improvement meetings that happen every two weeks,” says Brian
Mueller, CEO of Grand Canyon Education LOPE -0.52%, 2nd on
our list. “We literally look at every aspect of the university’s business in
some form or fashion in those 12 meetings, and those meetings keep the
university moving forward.”
Says Brad
Cleveland, head of Proto Labs PRLB +0.14%:
“Tuesdays I typically dedicate to the hottest project of the moment, which
could be the planning of a new Japan facility, the addition of the latest U.S.
facility or just the negotiation of a new banking relationship alongside my
CFO.”
Packaged
foods company Annie’s Homegrown is headed by John Foraker, a leader that
divides his days into blocks of focus. About 40% of his workdays, he says, go
to planning ahead. “I try to focus on what the business will be doing 18 to 36
months from now, laying the foundation for future growth and opportunity for
the business and brand.
If you
want to go places in the business world, you’ve got to go places. Travel is a
fact of life for a CEO.
“When I’m traveling, I’m out on the road selling beer all day just as I did on day one,”
says Koch. “I meet with wholesalers and visit bars and restaurants at night and
talk to drinkers about beer. When I was starting out, I spent every night in
bars talking to people about beer, sampling my beer, and educating drinkers on
what full-flavored craft beer was all about. Not much has changed since then.”
Silica
Holdings CEO Bryan Shinn spends time on the road meeting with investors and
maintaining key contacts. “That’s something that only the CEO does on a
frequent basis. Building relationships with key customers at a senior level is
really important.”
Mike
Fifer, the head of firearms manufacturer Sturm Ruger, finds himself on the road
a lot too. “I typically travel somewhere each week, whether to one of our
factories, or to see wholesale customers or retailers. Several times a
year I will work retail promotions so that I’m interacting directly with our
consumers. And I regularly spend time testing our new products using them
at one of our factory ranges or in the field or at shooting schools.”
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