Formula of super successful CEOs

by ExpertBlogger 30. May 2019 13:44

CEO is the engine of an organization, but we often think what fuel or specifications is required to be that engine? Do a CEO has to be a graduate, a post-graduate, a doctorate or even with no educational qualification at all? It is weird that one who is running a multi-million/billion company and he/she doesn’t have a degree, well the top 400 richest US people will tell you a different story, Out of 400, 21 have PhD, 29 are Masters in Science, 35 have law degrees and 63 didn’t receive the college education and rest are simply graduates. 

The richest man of the world Jeff Bezos is a simple graduate, second richest person, Bill Gates never completed basic college and third richest person, Warren Buffet is a Master of Science and the 4th richest Amancio Ortega never received any education at all. It doesn’t matter whether you take top 4 or top 400 you cannot state the necessary conditions that requires you to be a successful CEO because the only thing common between them is they prefer reading, actually they all are voracious readers because with reading comes knowledge and that can be used for innovation which is far more important than a degree from an Ivy-league colleges. 

This can be deduced from the fact that Warren Buffett reads six newspapers daily, Mark Cuban read three hours on a daily-basis, Bill Gates reads 50 books in a year. On an average a CEO reads 4-5 books per month and 5-6 newspapers daily. 

So now the answer to the question depends on two conditions whether the CEO is a full or partial owner of the company. CEO is running the company as an employee.

In the first condition a person can be anything doctor, lawyer, graduate, post-graduate or even uneducated because the force required to run his company is knowledge, instincts and his decision making skills. In this condition a person strive to learn new things and willing to take new challenges, this is another common denominator of this category of CEOs, they are more adaptable to change and venture into unexplored areas. Take for example Mr. Elon Musk, after having a degree in Economics, he started an Online Payments Company Paypal and do coding there and later he sold this company for 180 million. He then invested the entire amount in Tesla, an automotive company and Space-X a space exploration company. The former makes electric cars and the latter is involved in making Rockets.  

So, if you started any business or start-up then the success of your firm depends on your decision-making prowess and how you create that business. It is like running a race and building your vehicle in the process. Your own efforts can either build a cycle, bike, car or even a fighter plane to win that race. In case of super successful CEOs like Jeff Bezos, Bill Gates, Amancio Ortega they have created a super-stealth fighter plane like Amazon, Microsoft and Zara and they are still experimenting and venturing into new fields. 

In the second case a graduation degree can be a requisite condition but not the necessary one. The necessary condition is the experience with effective track-record. The experience is more important in second condition as in most of the professionally driven companies; the top executive age is 55-58 on an average. A great example is Mr. Sundar Pichai , CEO of Google, who is the highest paid CEO of a company which he neither founded nor owned as a minority or majority shareholder. He is a Metallurgical Engineer from Indian Institute of Technology (IIT)- kharagpur and a masters in Material Science and Engineering and he is currently heading a company which has no relation to his educational qualifications.  

Similarly, if you have started your career in any company and want to become the CEO of that firm then all you need to do is gather more experience and hone your skills. This will help you long run also try to create stellar track-record which will help you to claim for that position. 

So the conclusion is a higher education degree in might give you the edge but it is your own skills of knowledge-seeking and risk-taking that will win the game!!!