In today's complex and fast-changing economic, political, market, blink-of-eye-Technologies and consumer-preferences-and-habits => to say "that being the top boss is demanding would be the biggest understatement of our times".
Whether you are a CEO of the world's largest organization or a one-person start-up OR even someone looking for a job – you will have to master many-many more skills, than were needed say 20/30 years back.
In spite of all the right strategic planning [because of any of the external forces mentioned in the first paragraph above] – the outcomes could be totally unpredictable.
The earlier wisdom, solutions and techniques may not help – unless we too learn to learn* newer skills* faster than the rate of change.
Although there are no guarantees - In the climate of VUCA [Volatile, Complex, Uncertain and Ambiguous] – The future successes would come from disrupting the trends RATHER than following what is popular fads.
I have complied a list of 93 challenges that as a Top Business Leader you must address and overcome – Ignore them at your own peril.
These are Based on my interactions with numerous CEOs and Business-Owners [whose success-stories are worthy of case-studies to be studied at the Global Best Management Schools] – AND – also through implementing many simple yet un-thought of strategies and getting the results.
The idea is to help – the leaders to recognize, identify, learn, prepare and face these challenges head on – with informed action-steps.
Some of these are meant only for the top honchos of the global conglomerate – but most of the challenges are of almost all the people who would like to succeed beyond the extra-ordinary.
Even if you are about to jump into the entrepreneurial or job market – they would prove to be of the most effective skills and tools that you need to master and practice.
The word - Leadership - immediately creates an image of great men and women, who - in a moment of crisis, always rise to the occasion with the right response, the right decision, the right direction.
This is one of the biggest myths or misconception of leadership - that leaders always know what to do.
Most of the time leaders themselves - don't know what they're doing - any more than the rest of us do.
That's why every leader need solution tool-kit - that work against the most common challenges life throws at us.
The 93 Top Leadership's Biggest Challenges
- 1.Attracting investors
- 2.Reducing time to make money
- 3.Making the business reach the break-even point and then to make it reach the profitable scale
- 4.Accepting full responsibility [as a founder or the boss – even your employee's mistakes are yours] for anything and everything that goes wrong – AND – the pivoting correctly
- 5.Facing problems and being a problem-solver
- 6.Developing and Empowering your people to be problem-solvers
- 7.Being comfortable in Asking for help – when you don't have a clue what is wrong OR what you need
- 8.Understanding and accepting – who is the real BOSS – NO it is not YOU – They are Your Employees, Your Customers, Your Board etc etc
- 9.Taking actions even if it paralyses you with fear
- 10.Understanding that There are no guarantees – ONLY THAT – after each failure – you NEED to improvise take action again
- 11.Asking the questions constantly - What Skills, Talents, Products, Processes, Strategies etc - do we need in our organization today that we don't have right now
- 12.Constantly learning about the strengths they need to create for the next disruption OR preparing themselves for it-Best leaders don't just leverage the strengths they have, they also identify the strengths those they don't realize they have
- 13.Having a right team of Mentors, Coaches and Advisers to help you learn, change and grow
- 14.Going for the Top talents – AND -Ensuring that you best people are highly engaged and are excited for what their organization is about and the impact they are making
- 15.Dealing with uncertainty through candid communications and conversations
- 16.Reinventing themselves and their organizations by looking for and experimenting with newer ways of doing things
- 17.Going for enhancing the horizon of knowledge for wider-ranging subjects, topics, fields and areas
- 18.Nurturing strong trustable relationships all stakeholders – external as well as internal
- 19.Recruit and retain top performers
- 20. Learn to reach the crux from the maze of big-data to avoid Information overload
- 21.Go for pro-active Change
- 22. Overcoming the fear of firing – by letting people who don't support your values – humanely
- 23. Becoming expert in Execution, improvisation and follow-through
- 24. Following your own plan with disciplined approach
- 25. Going for creating culture of most admired organizations in the world – it is expensive in short-term BUT very profitable in long term on sustainable basis - You as the CEO creates the culture and set the tone
- 26. Learning to handle Difficult People*
- 27.Say No*
- 28. Developing Ability to handle Pressure without tension
- 29. Dealing with Adversity*
- 30. Delivering Bad News
- 31.Staying Motivated and inspired
- 32. Being Respectable and not likable*
- 33. Developing and Maintaining Focus*
- 34. Pivoting fast* – when any major project doesn't work or the event is a bust or When something new is about to start OR When something is about to end OR When times are tough OR During transitions
- 35. Facing and handling Public criticism, especially uninformed criticism, of your group or mission – like - Crises, which could be tied to finances, program, politics, public relations (scandals), legal concerns (lawsuits) OR Opposition and/or hostility from powerful forces (business groups, local government, an influential organization, etc.)
- 36. Resolving conflicts
- 37.Being objectivate
- 38. Looking for building collaborations
- 39. Going for 360-degree feedback and using it to set the wrong right
- 40. Observing* the trends and disruptions
- 41.Communicating* your vision* passionately*
- 42. Living your values* - values-based-leadership*
- 43. Setting an example
- 44. Maintaining effectiveness
- 45. Creating sustainable excellence*
- 46. Avoiding burnout*
- 47.Sharing the burden by Surrounding yourself with good, competent and committed people who support and share your vision
- 48. Becoming part of group or creating a group like Mastermind* with whom you can discuss your challenges and realities of leadership
- 49. Ensuring taking self-care*
- 50. Developing New organizational competencies in future context
- 51.Identifying the Where are the biggest gaps – which are giving you ulcers – AND – then working to fill them with both short-term as well as long-term capabilities
- 52. Nurturing and Refreshing leadership from within the organization
- 53. Polishing your personal leadership style
- 54. Experimenting AND Giving permission to yourself to fail
- 55.Learning to Handle the Millennials as well as the Generation -Z
- 56. Improving the quality and level of coaching and mentoring in your organizational culture
- 57.Keeping a culture of agility
- 58. Making use of technology
- 59. Elevate and retain female leaders
- 60. Business Up-SCALING WITHOUT SACRIFICING CULTURE
- 61.Up-scaling only after consolidation
- 62. STAYING LEAN
- 63. MAKING PEOPLE CARE ABOUT YOUR CAUSE
- 64. LETTING GO AND DELEGATING
- 65. Focusing on the Development of Frontline leaders – Preparing frontline leaders for their critical leadership moments
- 66. Developing result-giving and conducing habits*
- 67.Not leaving development to chance or individual efforts
- 68. Learning to lead several generations
- 69. Emphasize accountability yours and everyone's
- 70. Managing Changing Customer Relationships and Expectations - effectively
- 71.Staying Competitive and Creating Growth
- 72.Using Big Data and Decision-making science in most effective ways - Managing Information Flow
- 73.Managing Your Energy*
- 74.Creating new business models suitable to Disruptive technologies and market preferences Developing next-generation leaders
- 75.Creating a learning agile culture
- 76.Investing in inclusion and diversity for Fostering emotionally agile leadership
- 77.Launching more female leaders
- 78. Creating a High-Performance Global
- 79.Tackling Expectation of High Performance in a Short Period of Time - through creating robust tracking and monitoring systems
- 80.Creating Strong Brand Loyalty - by bringing something unique and practical to the market
- 81.Learning the fineries of Financial management and Cashflow Management
- 82. Creating a cultural of Innovation
- 83. Making the processes involved in running a business easier to monitor and take action
- 84. Using all the available Marketing channels to your best advantages - Direct, social, online
- 85. Creating Differentiation through very strong stakeholders value proposition'
- 86. Mismatch of Current Talent And Future Strategies
- 87. Lack of Digital Expertise
- 88. Loneliness at the top
- 89. Balancing competing interests and priorities*
- 90. Providing employees with the tools they need to be productive
- 91.Becoming more adaptable to change
- 92. Creating culture which promote employee well-being
- 93. Identifying emerging trend and right preparation