Great CEOs can turn on the fortunes of a company. But great CEOs are not born. Over time, experience, communication skills, and domain expertise create a great CEO’s leadership quality. For leading a startup mobile app development company, a CEO needs a lot of zeal and necessary qualities to take on the competitive challenges. From establishing a brand image to maintaining consistent business growth with new and challenging projects, challenges are numerous for CEOs of app startups.
Let us explain here some essential qualities and practices required from CEOs of app startups.
A Balance Between Humbleness and Boldness
No, it is not a contradiction to become bold and humble at the same time. A balanced approach, equally humble and bold, make the ideal personality trait of a CEO. It is actually about striking a balance between the two opposites.
As a CEO, you need to make a lot of bold decisions from time to time. And at the same time, when communicating with your internal team about different project goals, you need to have a humble approach. Striking a balance between these two opposites will ultimately play a crucial role.
The boldness of taking a hard and uncompromising decision must be supplemented with the humbleness of a collaborative approach in putting together the team effort. This is how you can establish a leadership position through bold decision-making without arrogance.
Being a Visionary
As a CEO, you must have a clear-sighted vision about where the company is heading for. It would help if you had a clear path of the product life cycle and evolve and create new market opportunities. Only when you have a clear vision of your company’s future can you refine your company’s products through regular customer interactions? It is also essential as a business leader to meet the mobile app development trends in the market and come with products that have a better likelihood of getting audience engagement.
In an app development company, you need to communicate about the company’s next set of projects with all the developers and project managers. By communicating to your team members, you can easily set long-term and short goals keeping in tune with the company’s vision. A monthly meeting with all team members will play a great role in communicating and chasing your business objectives.
In this respect, always remember that the job satisfaction of most employees depends upon the feeling that they are positively contributing to the company’s goal of business growth and teamwork. When they know their contribution to the company, they feel the extra motivation to take pains and responsibilities. This requires sharing the company’s vision with the employees and team members.
Often we have the right mobile app ideas about the critical requirements of an app startup from the considerations of the startups. Venture capitalists and investors generally consider 3 crucial things as essential aspects of a business startup. They are nothing but the people, market, and products. Well, people hold to be the principal spot in their considerations. Naturally, CEOs also should work rigorously to establish teamwork and make things roll in the right direction.
The critical thing is to evaluate whether the right people are given the right responsibilities. It is also essential to assess whether or not the team needs to be reorganised. It would also help see whether a few underperforming members are spooling the entire team effort. It is also essential to evaluate whether the people like their jobs. Lastly, a CEO must create a plan for new talent acquisition as per the project’s requirements. Creating the right team, establishing the right level of collaboration, and engaging appropriate people at the right job, are crucial things that a CEO must look after.
Managing Investors as Startup
App startups may never have any dearth of new ideas and resources. But whenever they source capital from outside investors, they are likely to give directions and intervene in the company matters frequently. Well, it is the responsibility of the CEO to manage these investors while maintaining the sovereignty of the company.
While you need to keep investors informed, happy and contented, you cannot leave the decision-making process. Striking a balanced approach will be crucial in this respect. You need to create a positive picture of the company’s business process and growth prospects while remaining firm on leaving decisions to people who are best suited for them.
Always make sure that the investors are given the utmost respect and cognisance of their concerns. By simply allowing them to stay in the decision-making process, you can boost their morales for putting more money into projects and creating a positive impression among other investor circles.
Keep the Value Proposition of the Company Separate from Personal Worth
For a CEO, it is essential to segregate personal issues from a company’s larger and bigger value proposition. While aligning his personality with the company’s goals, a business leader should not allow personal setbacks to spoil the company’s objective drives. A CEO should maintain a healthy and safe personal distance from the company’s business process.
You might have had some bad experiences in earlier job responsibilities, and certain situations can evoke those memories. But leaving aside your personal feelings, you need to keep working to realise your company vision and objectives. All your issues ranging from health to relationships to financial issues, should not make your business process suffer.
Taking Responsibility: Neither Too Much Nor Too Little
In any company, a CEO is pretty much responsible for anything and everything. But in a startup, a CEO has more responsibilities than established companies. A CEO needs to take many additional responsibilities in an app startup that often suffers from inadequate human capital and other resources. Often in an app startup, a CEO alone looks after the finance, Human resources, development processes, marketing, PR, and several other aspects.
But taking too many responsibilities often becomes counter-productive for their leadership performance. This is why CEOs need to strike a balance between too many responsibilities and no responsibility. As a CEO, you need to take overall responsibility for your company and the underlying processes. But at the same time, you need to delegate tasks and responsibilities to people who are likely to work for them.
When it comes to the CEOs of an app startup, the situation seems to be even more challenging simply because of the huge and stiffening competition. As app startups are mushrooming everywhere worldwide, leading a development company with consistent and competitive output often becomes a challenge for a startup. There, the role of a CEO plays a vital role.