Brad Feld has a good post today, "Being a Great CEO", which references Fred Wilson's thinking on the same subject-"What a CEO Does". These two experienced VCs conclude that great CEOs do three things:
- Champion a strategy and vision for the company
- Recruit great executives
- Manage cash to always have adequate reserves
In Brad's post he includes the list of behaviors a startup CEO recommends, which is shown below in the left column. My additional interpretation is in the right hand column. I added 8 to what I consider a better list than either VC, although I think 5 is the important behavior omitted by the VCs. CEOs must insure customer focus throughout an organization. As customer experience becomes more broadly defined to include customer service, social media and many other areas, I believe a customer focused CEO becomes increasingly important.