The CEO Next Door summary

Previously, we’ve shown that a college degree isn’t necessary to become the CEO of a lucrative company. But being highly intelligent is not a prerequisite either.

In fact, CEOs who have a high IQ typically experience information paralysis. They are required to make important choices every day. There are many different avenues by which to arrive at a decision, such as being thoughtful, impulsive, logical or decisive. Out of these options, high-performing CEOs often opt for decisiveness, meaning the ability to decide quickly and with conviction. Indeed, the authors found in a study that decisiveness made CEOs 12 times more likely to be top performers.

As mentioned earlier, a surprisingly large number of CEOs are introverts rather than extroverts. This is because, in order to be an effective CEO, you’ve got to be able to consider other people’s perspectives. Company owners need to understand what motivates customers, board members and stakeholders, which means that CEOs need to listen and have empathy. Introverts tend to be particularly adept at this.

By truly listening to people, you avoid making assumptions, which is important. When it comes to other people’s perspectives and outlooks, you shouldn’t assume you know what they think. Instead, you should show genuine curiosity and pay attention when they’re talking about themselves.

If two candidates are competing for a CEO position, the one who appears most reliable will get the job. In fact, CEOs who are known to be reliable are twice as likely to be offered a position than those who don’t have that reputation.

To present yourself as a reliable person, you must always follow through on your commitments.

When you’re leading a big organization, it’s almost impossible to micromanage everything. Therefore, you need to implement self-sustaining systems that have easily repeatable steps to ensure employees work efficiently.

To do so, imagine yourself as a conductor of an orchestra.

What do Blockbuster Video and Kodak have in common? Both are businesses that failed because they didn’t adapt to the future.

One important aspect of planning for the future involves making room for new ideas by letting go of old ones.

If you think you’re more important than the company you work for, then the chances you’ll get hired as a CEO are pretty slim. Employers look for team players who will act according to the company’s best interests, rather than those who act out of self-interest.

So how do you show what you’ve got, if you’re not supposed to brag about your talents?