As a new high school freshman, I noticed something. Finally becoming a “high schooler” had seemed like a big deal. Until I entered 9^th grade. I grew up back in the days when hazing was still just fine. My freshman year felt like a gauntlet that I had to run every day.

In life – the top of every ladder is just the bottom of another one. Which is a good reason not to get hung up on ladder climbing.

If you are a CEO or equivalent, chances are you were hired or promoted by someone. An owner, a board, a holding company. You answer to someone.

This is true even if you are one of the owners yourself. You may function as a managing partner or president or whatever title is used. But, at least technically, you likely answer to someone.

Sometimes, in practice, the board or whomever you answer to doesn’t ask much of you. You may enjoy wide autonomy. But that can create a false sense of independence.

Many celebrated leaders who were given a free hand for years, even decades, often find themselves suddenly and unceremoniously removed from their position.

In fact, over the last 15 or so years, the tenure of CEOs has shortened. Largely as a result of board’s[1] being dissatisfied with performance.

Unfortunately, the relationship between a CEO and the board isn’t discussed or explored. Actual expectations are vague or artificially limited. While you might expect that the board would initiate the process to build or define the relationship – in practice, this often doesn’t happen.

So, how does someone in the CEO role thrive?

The Four Ingredients Necessary to Build a Strong, Healthy Relationship

Anyone in the CEO role should focus on ensuring these four ingredients exist in their relationship with the board. Doing so will dramatically improve the quality of your relationship and your ability to work together.

1. Credibility: Credibility is the currency of leadership. Build it through rigorous consistency between word and deed. Do what you say you will do.
2. Understand what they want: Often boards or owners have a sense of what they want, but not a very clear one. Become skilled at asking good questions. Helping them unearth what they really want. It’ll serve you and them.
3. Measure success: Once you know what they want, decide how this is best measured. One of the most common mistakes is to measure activity vs results. Clearly understand what you are supposed to achieve and how this will be recognized. Yes, this will create accountability. Which may feel uncomfortable. But it also gives clear goals. As you achieve those goals, it builds credibility.
4. Courage to tell the truth: CEOs often do not tell the truth to their board or owners. Specifically, they don’t confront inaccurate assumptions or unrealistic expectations. Effective CEOs learn how to respectfully, but plainly, tell the truth in a way that it can be received.

How are you doing? On a scale of 0 (worst) – 10 (best) score yourself on the degree to which you believe you:

• • • How consistently do you follow through (timing and quality) on what you say you will do?
    • How well would the board or owners say you understand what they want?
    • How clear and measurable are the indicators of success for key priorities and goals in your organization?
    • How effective and consistent are you at communicating the truth up to your board or the owners?

The relationship between a CEO and board is like any other meaningful relationship. It takes work. It suffers from assumptions.

Do the work, create accountability through clarity, and the relationship will benefit.

Take good care,

Christian

[1] For brevity, I’m just going to use the word “Board” to mean whomever the CEO reports to. In reality, this could be a single owner, other partners, or a holding company.

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