Several aspiring entrepreneurs look to the tech world for inspiration. It makes perfect sense. Tech companies are home to some of the biggest names in business right now: Elon Musk, Jeff Bezos, Tim Cook and Bill Gates, to name just a few. And technology is inherently forward-thinking in nature, attracting business people who prize creativity.
If you count yourself among the numerous entrepreneurs who want to break into the tech world, you need to understand what makes an effective tech CEO. Below, you will find four indispensable qualities that separate great tech CEOs from good ones.
An Innovative, Outside-the-Box Perspective
As mentioned, innovation is the bread and butter of the tech sector. A great tech CEO knows this and constantly pushes themselves and others to think outside the box.
For inspiration, look toward any of the recent disruptive tech companies. Look at how Uber founder Travis Kalanick merged geolocation, online payments and a matching algorithm to create a viable alternative to entrenched private transportation companies. Or how Robinhood’s Vladimir Tenev combined a finance tech stack with a “payments for order flow” revenue model to provide a streamlined investing alternative to major financial institutions.
These tech CEOs saw technology for what it is: a potential paradigm shifter.
Ethics, Principles and Consumer Empowerment
For a tech CEO to be effective, they need to stand for something. If the company’s bottom line is the only thing you care about, then you aren’t creating an innovative company – you’re just creating an income generator.
For inspiration, consider Nobul CEO Regan McGee. Yes, he’s an innovator, a disruptor and an outside-the-box thinker, but he follows those technical feats with a higher purpose – to help consumers. He leveraged a proprietary matching algorithm to help real estate consumers find agents aligned with their values.
When Medium asked McGee to offer advice to other leaders, he didn’t mince words. “Focus on the consumer, there is plenty of money for everybody,” he said. “If you focus on the consumer, you could wake up knowing that you are doing good for the world.”
Resisting the “Ivory Tower Syndrome” with Effective Communication
“Ivory Tower Syndrome” is when a C-suite exec becomes so detached from the daily work of lower employees that they lose a grasp on the labor driving their company.
To inoculate against Ivory Tower Syndrome, a tech CEO needs to be a capable communicator. They need to establish a robust system of communication (either hierarchical or lateral) that allows them to stay in touch with all aspects of the business. It’s also a way to oppose insularity and expose yourself to new ideas – a process that can make you a more adaptable CEO.
Decisiveness
Lastly, an effective tech CEO needs to be decisive. Understanding the importance of decisiveness, several tech CEOs go so far as to wear the same outfit every day to reduce “decision fatigue.” Your ability to make shrewd, high-level decisions on a regular basis will form the bedrock of your leadership prowess.
Consider reading this article from the Harvard Business Review, titled “What Are Your Decision-Making Strengths and Blind Spots?” Penned by Decisive CEO Cheryl Einhorn, it offers a detailed guide to dynamic decision-making that can benefit all entrepreneurs.
Hopefully, this article motivates aspiring tech leaders to become the best version of themselves. By thinking creatively, acting ethically, communicating constructively and making dynamic decisions, you can become an effective tech CEO.
