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How Easy is it to Become a CEO?

The statistical likelihood of becoming a CEO is relatively remote — around 1 in 135,000 — and that's if you hold an MBA. No relevant qualifications? Your chances shrink further, decreasing to a minuscule 1 in 386,000. In other words, it's anything but easy — but it's also not impossible.

The rewards are plentiful for the chosen few with the skill and sheer grit required for the long hike to the top.

But before you start picturing yourself in a corner office with a view, let's break this journey down. While there's no one-size-fits-all path to becoming a CEO, specific steps, skills, and experiences can increase your odds. So, how do you reach the summit? Let's find out.

Luck (usually) has nothing to do with it…


The first thing to understand is that CEOs rarely stumble into their roles by chance. Yes, nepotism is unavoidable within the upper echelons of business—especially family businesses—but most CEOs spend years, if not decades, climbing the corporate ladder.

Starting from entry-level positions, they clamber up the rungs individually, accumulating a wealth of experience in various departments. Take Doug McMillon, Walmart's current President and CEO, for example. Doug began his Walmart career at the bottom, unloading trucks at one of the company's many warehouse facilities.

Like many other CEOs, this gave Doug a unique advantage over the scores of other professionals vying for the Walmart throne — the knowledge of how the business functions at the ground level.

Think of it this way: you wouldn't trust a captain to navigate a ship through a storm if they've only rowed a canoe, right? The same goes for CEOs. It's the breadth of experience that sets them apart. So, to rise to the top, prepare for a long journey of learning the ropes across different functions and roles.

Leadership skills matter


Experience alone doesn't make a CEO — leadership does.

CEOs aren't just managers but visionaries, decision-makers, and motivators. They inspire their employees and excite investors. Some of the best CEOs — think Steve Jobs, Bill Gates, et al — are such gifted leaders that they chart the course of entire industries.

Let's be clear — this is not a role where you can coast on technical expertise or a high IQ (although these attributes certainly won't hurt). Emotional intelligence, communication skills, and the ability to inspire others are just as critical.

CEOs need to know how to manage people — not just the day-to-day operations but the emotions, conflicts, and ambitions of leading a team. They must motivate and inspire their employees, instill confidence in shareholders, and negotiate with business partners.

There are many plates to spin, and you must ensure only the best and brightest minds within your company are allocated to the appropriate plates for their skill sets. Of course, this is a lot easier said than done, and you'll need the right tools (such as Diligent's board meeting software) and frameworks to maximize your chance of organizational excellence.

But above all, being a CEO is as much about exercising control as relinquishing it. Great leaders are masters of empowering others and playing to their strengths, so if you want to become a CEO, you need experience in delegation. Whether you get this through formal management roles or leading smaller teams, getting comfortable with life at the helm is invaluable.

Networking and relationships are essential


The phrase "It's not what you know, it's who you know" carries much weight when becoming a CEO. Building relationships with influential people inside and outside your industry can significantly increase your chances of achieving your dreams of CEO-dom. Networking helps you get noticed, and often, these kinds of roles aren't publicly advertised — they're filed through internal promotions or recommendations from trusted peers.

Mentorship plays a role, too. Many successful CEOs owe their success to the guidance and tutelage of mentor figures, so it's worth absorbing all the knowledge you can from your peers. If you admire a senior colleague, see if you can get them to take you under their wing — you might be surprised at how many doors will open should you impress them.

However, building a solid professional network isn't just about having a large LinkedIn following; it's about forming meaningful connections with people who can offer guidance, support, and opportunities. So, if you aim for the top, try to forge genuine connections rather than superficial ones.

Education is a tool, not a guarantee


An MBA from a prestigious institution may be the first thing that comes to mind when considering CEO qualifications. While many CEOs hold advanced degrees, education alone doesn't guarantee a path to the top. Some of the world's most famous CEOs, like Richard Branson, didn't follow the traditional educational route.

But on the other hand, having a solid academic background can certainly open doors. Business degrees, particularly MBAs, can provide you with valuable insights into how companies operate, how to strategize, and how to navigate financial complexities. But what's more important than the degree is how you apply that knowledge in the real world.

Whether you pursue a degree or not, a prerequisite for attaining the mindset of a CEO demands that you treat every day as another opportunity to learn something new. The business world constantly evolves, and staying ahead of the curve is all part of the game. Lifelong learning — whether through formal education, self-study, or professional development — is a passion common among some of the world's best-known CEOs. If you're serious about joining their ranks, it's a passion you'll also want to cultivate.

Timing and opportunity


Here's the part of the CEO journey that's often overlooked: timing and luck. While hard work, education, and networking are all vital, there's no denying that a certain amount of luck plays into the equation. Being in the right place at the right time can make all the difference. Sometimes, it's about seizing an opportunity when it presents itself or even creating one out of a challenging situation.

Take the example of Satya Nadella, who became CEO of Microsoft. He wasn't the most obvious choice at the outset, but his vision for cloud computing aligned with the industry's direction when the company was going through a critical transition. His timing and foresight helped propel him into the CEO role at a pivotal moment.

Luck also plays a partial role in external factors — like economic conditions, industry changes, or technological breakthroughs. Some CEOs rise to the top because they lead in industries poised for massive growth, while others must navigate through downturns and disruptions. While you can't control luck, you can increase your chances by staying adaptable, seizing opportunities, and positioning yourself for success.

So, is it easy to become a CEO?


In short, no, it's not easy. Becoming a CEO is a long, complex journey that requires a mix of experience, leadership, education, networking, and a bit of luck. It's not something that happens overnight, and the path to the top is often filled with challenges, setbacks, and hard-earned lessons. But while the road may be difficult, it's not impossible.

The good news? If you're committed to developing your skills, building relationships, and navigating the complexities of the business world, you'll be in a much stronger position to claim that CEO title eventually. It's a marathon, not a sprint — but for those willing to do the work, the rewards can be well worth it.

So, how easy is it to become a CEO? Perhaps the better question is: how prepared are you to take on the challenge?

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