Most Important Skills for a CEO at Digital Transformation Platform Company
As a CEO, a handle on company financials is crucial, especially understanding cash flow and profitability, going beyond just the P&L which Michelle honed after transitioning from a corporate finance role at Intel. Equally important are soft skills, like "listening" and having "a front door conversation" to understand and address challenges faced by leaders, employees, and customers, fostering strong relationships through tough times.
Financial Management, Leadership, Communication, Problem Solving, Customer Relations
Advizer Information
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Job Title
Company
Undergrad
Grad Programs
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Michelle Tinsley
CEO
Digital Transformation Platform Company
University of Oregon
Arizona State University (ASU) - W. P. Carey
Finance, Marketing
Consulting & Related Professional Services, Technology
Strategic Management and Executive
Honors Student, Scholarship Recipient, Greek Life Member
Video Highlights
1. Financial Acumen: CEOs need a strong understanding of company financials, especially cash flow and balance sheets, which may be more critical than in larger corporate roles.
2. Leadership & Empathy: Understanding and addressing the motivations and concerns of team members is crucial for a CEO, especially regarding attrition, hiring, and overall team morale.
3. Customer Relationship Management: CEOs must be able to handle difficult conversations with customers, address unmet expectations, and work towards solutions to maintain strong supplier relationships, particularly during challenging times.
Transcript
What skills are most important for a job like yours?
As a CEO, you definitely have to have a handle on the company's financials. Cashflow and profitability are very important, not just the P&L. I spent 18 years in finance at Intel, and I thought I was really good at finance when I came into this job.
But what I realized very quickly was that in corporate America, I didn't look as much at the cash flow statements and the balance sheet because I was part of a bigger company. So obviously, I've honed in more on that in this role.
The second piece is I'm more on the soft side. I try to understand if something is dragging down or demotivating one of my leaders. What's going on here? Maybe we've had some attrition, or we're trying to hire and fill a position.
Where are we at on that candidate pool? How do we decide who's the best hire? We can't hire everybody.
And then really listening. Sometimes things don't go great with a customer. So it's about having what our private equity partner would call a "front door conversation."
"Gee, this didn't meet your expectations. It didn't meet ours either. How do we work through this? How do we fix the situation and get them back in a good spot?" Because you'll find out who your good suppliers are when you go through tough times together.