The most successful entrepreneurs in NYC are, simply put, a step above. In fact, I don’t think of them so much as CEOs or elite leaders or top senior management as I do leadership virtuosos, leaders who have demonstrated great skill and excellence in leading their organizations.
A virtuoso is not doing what they do for the sake of money or fame. A virtuoso is dedicated to the good of the world.
“Leadership virtuosity implies that the person who is exercising the role of leader is good—good for himself, good for all others he influences, good for the organization or institution or community in the long term, good for the larger society, good for the economy, and good for his or her contributions to our individual and collective destinies.” (Thayer 16)
And all of NYC’s leadership virtuosos have these seven characteristics:
Practice One: A Great & Worthy Purpose
At the core of every successful CEO is a great and worthy purpose, one that motivates them to put in the hard work and dedication required to succeed. NYC’s most successful CEOs have created a clear purpose for their businesses and strive to align their daily decisions with it. This provides them with direction as they navigate their way through various business challenges.
Practice Two: Creating Clarity Through Role Descriptions
The role descriptions for employees must be well defined so that everyone knows what is expected of them. With this clarity, teams are better able to understand their tasks and responsibilities, allowing the organization to reach its goals more efficiently. NYC’s most successful CEOs make sure that all team members know their roles and keep employees accountable for meeting their job requirements.
Practice Three: Performance Goals
Setting clear performance goals is essential to success. By setting measurable goals, CEOs are able to monitor progress and ensure that everyone is on the same page. NYC’s most successful CEOs set specific performance goals that measure not only results but also process improvements. This helps them stay focused on what really matters while avoiding unimportant details.
Practice Four: Learning Plans
A Learning Plan is a set of personal performance goals that address a person’s shortfalls — skills, conceptual skills, perceptual inadequacies, attitudes that hinder performance, follow-through orientations, habits, etc.—with respect to that person’s Role Description and/or Performance Goals.
Learning plans provide a blueprint for employees to develop their skills and knowledge so they can be better equipped to contribute effectively towards achieving business objectives. NYC’s most successful CEOs realize the importance of continual learning and ensure there are mechanisms in place to help team members grow professionally.
Practice Five: Measurement
Measuring performance is vital to understanding how well the business is doing. The number one problem I hear about from CEOs is a lack of accountability. Their people simply don’t do what is expected of them. I ask, “what are you using to measure their performance?”
NYC’s most successful CEOs have implemented systems and processes to track their key performance indicators (KPIs), so they can quickly identify areas of improvement – and not just in financials, but also in recruiting success and retention rates, IT tickets open rate and turnaround time, business development probabilities of winning, software engineering sprint time and quantity of bugs in each, etc. This helps leaders make informed decisions that are rooted in data rather than guesswork.
Practice Six: Creating Culture
Culture plays an important role in influencing how employees behave, interact with each other, and view the company. NYC’s most successful CEOs foster a culture of trust and respect among their teams by setting boundaries, encouraging open communication, and celebrating successes both large and small. They also recognize that every individual has unique strengths and weaknesses and as such, tailor their efforts to help each team member reach their full potential.
Practice Seven: Positive Mindset
The right mindset is essential for creating lasting success. NYC’s most successful CEOs are driven by a growth mindset, believing that their efforts have the ability to produce positive results if they maintain consistent effort and dedication. They also recognize the importance of resilience when dealing with setbacks, staying focused on solutions instead of dwelling on problems. This attitude helps them stay motivated and continue striving towards achieving their goals despite any obstacles in their path.
Bottom Line
All seven of these practices are essential to maintain success in a rapidly changing business landscape like NYC’s, but it’s up to each CEO (and organization) to determine which ones should be prioritized for maximum impact. The most successful leaders understand that each practice has value and are constantly reassessing their approaches to ensure they remain on the path to success.
By putting these seven essential habits into practice, NYC’s most successful CEOs have been able to create long-term success for their organizations. Through clear purpose, well-defined roles, measurable goals, learning plans, measurement systems, an effective culture, and a growth mindset, these CEOs have been able to drive excellence in every aspect of their businesses. With this approach, they have been able to stay ahead of the competition and ensure their companies remain profitable even in challenging times. These practices prove that with hard work and dedication, it is possible to achieve greatness as leadership virtuosos, even in tough markets like New York City.
