The second practice is to delegate tasks and empower your team. Delegation is the process of assigning tasks and responsibilities to others who have the skills and abilities to perform them. Empowerment is the process of giving your team the authority and resources to make decisions and solve problems. By delegating and empowering, you can free up your time for more strategic and creative work, as well as increase your team’s motivation and performance. A survey by Gallup found that employees who feel empowered are more engaged, productive, and loyal than those who don’t3.
The third practice is to prioritize learning and growth. Learning is the process of acquiring new knowledge and skills that can help you improve your performance as a CEO. Growth is the process of applying what you learn to achieve better results and reach higher levels of excellence. By prioritizing learning and growth, you can keep up with the changing demands of your industry, customers, and competitors, as well as develop yourself as a leader and a person. A study by McKinsey & Company showed that CEOs who are lifelong learners are more likely to succeed in their roles than those who are not.
The fourth practice is to balance work and life. Work-life balance is the state of having enough time and energy for both your professional and personal activities. It helps you avoid burnout, stress, and health problems that can affect your performance as a CEO. It also helps you enjoy your life more and maintain good relationships with your family and friends. A report by Harvard Business School found that CEOs who have a good work-life balance are more satisfied with their jobs and lives than those who don’t.
The fifth practice is to seek feedback and act on it. Feedback is the information you receive from others about your performance as a CEO. It can be positive or negative, formal or informal, solicited or unsolicited. It helps you identify your strengths, weaknesses, and opportunities for improvement. By seeking feedback and acting on it, you can enhance your skills, correct your mistakes, and adapt to changing situations. Research by Forbes found that CEOs who are open to feedback are more effective, respected, and trusted than those who are not.
