by Dan O’Toole, founder, chairman, and chief executive officer of Arrive
Many people dream of being a chief executive officer (CEO), and for good reason. According to the Bureau of Labor Statistics, the mean annual wage for a CEO is nearly $250,000. Those in this position serve the operational activities at the highest management level. But what exactly does it take to get to the top? I have some tried, and true principles that have helped me along the way and great for anyone who wants to make it to that position and thrive in it.
Being a great CEO doesn’t just happen. It is something that you have to strive for and work toward. It’s crucial to have some principles that you stand by, so they can guide you along your journey.
My company Arrive has developed a new smart mailbox that it uses as a Mailbox-as-a-Service (MaaS) platform. The mailbox has been designed to leverage AI to provide consumers with a way to receive deliveries that offer security, weather protection, video analytics, and much more. We plan on revolutionizing the final autonomous last mile delivery sector, helping consumers and businesses alike.
Here are 10 principles every CEO should live by to be successful:
1. Persistence pays.
Sticking with the plan is a big part of succeeding. Too many people give up before reaching the level of success they are after.
2. Lead by example and be the group you want to deal with.
Being a leader in the field will help people get farther than following others. Treating others how you want to be treated in the field will help in unforeseen ways.
3. Go boldly where no one has gone before.
It is crucial not to be afraid to explore new territory. Sure, it may be a little scary, but that’s okay and may be significant. We would only have new inventions if people adhered to this principle.
4. When one person has an idea, 10 people have that same idea simultaneously. Win the race. Execute!
With billions of people on the planet, many people have had the same idea, so it all comes down to who takes action to see it through.
5. Remember where you came from.
Every successful CEO should stick to loyalty, integrity, and love. Some people helped them get where they are and should be remembered and respected.
6. Own your actions. Be responsible.
Always take responsibility for your decisions, even if the outcome wasn’t expected or hoped for. This is how people earn respect and trust.
7. It’s the principle. Be principled.
Determine what things will be a guiding force in the journey and stick to them. Don’t compromise on values.
8. Spend every dollar like it’s your last.
Living by this principle will help the company financially, and this principle goes back to owning your actions.
9. Explore everything – optionality is everything.
Being able to have choices is a good thing. There are only choices if you are willing to explore.
10. From within – consistently reward those who have rewarded you.
Nobody is an island becoming a successful CEO on their own. Businesses can only rise to the top with the help of others. Be aware of those who have helped and help them back.
Remember that you can always create your own principles, too. There are many great ones out there, but you need to find what resonates with you and use it to help you reach the top.
Dan O’Toole is Arrive‘s founder, chairman, and chief executive officer. As a strong visionary, he is a leader in autonomous delivery and was one of the first people in the U.S. to secure patents for a smart mailbox. A serial entrepreneur and business leader, he has had extensive experience in upper management at several prior impactful companies, including startups, enterprise sales groups, and commercial real estate entities.
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