Keeping Your Company Afloat While the CEO’s Away

They say a CEO’s work is never done, as there is always ‘one more thing’ that needs your attention. However, as a CEO, at some point, you will find yourself out of the office for an extended period. It could be a business trip, conferences, client meetings, or, in my case, a two-month trip to the mountains.

This year, I trekked to Everest for two months. For times like these, you must be prepared to keep your processes structured so that you can comfortably take a long trip without returning to complete disarray.

I had planned my strategy in advance, to the extent that I decided to appoint a Co-CEO in my company—someone I trust as much as myself, and am confident that he would lead the company in my absence.

The key to appoint someone who will lead the company responsibly in your absence lies in setting up an entrepreneurial culture within the company from the onset. At Mitgo Group, we have always selected people who have that ‘spark’ in them and are as hungry and passionate about the company’s success.

While many may think that hiring employees with an entrepreneurial spirit is not a good idea, I believe an employee with an entrepreneurial spirit always comes up with great ideas and can effectively lead them afterward to achieve success. By nurturing a workplace where innovative ideas proactively thrive, I empower our leaders to responsibly manage operations without needing my constant supervision.

Some other tips for leaving your company geared up in your absence include implementing crisis management plans, establishing a well-thought-out corporate structure, and staying connected when possible, even in the mountains.

Implement Crisis Management Plans 

It is crucial for ensuring business continuity in any unforeseen situations, especially during the CEO’s absence. This is because a company’s resilience is tested during tough times and crises.

From having leaders who motivate their team members about their work to having strong ties with stakeholders, we are always prepared to handle tough times. Plus, your plan should start with building unity in the workplace.

As a CEO, I believe that your focus should not only be on the company’s success but also on the people who make that happen: your workforce, your team members, and your leaders. So, whether it is a matter of facing global crises or being away on a two-month trip to the mountains, implementing comprehensive plans ensures that the company remains resilient and ready to tackle challenges.

Well-Thought-Out Corporate Structure  

There is a fine line between having a hierarchy and burying your organization deep in the hierarchy. Whether you have cross-functional teams and no leaders or 6–7 hierarchies below the CEO, both could end up causing your company more harm than good. It is especially true if you, as a CEO, have to be away for an extended time.

If you don’t have strong leadership to supervise the team, they will be stuck and still depend on you to manage them. On the contrary, too many decision-makers will also end up relying on you to make the final call. So, with time and experience, I had to master the intricate balance between maintaining a hierarchy and fostering a flat, agile organization.

At Mitgo Group, we have a specific person for every process with designated responsibilities and pre-allocated resources who is ready to address that may arise during my absence. This flexibility in our operational plans allows for maneuverability while addressing unforeseen challenges and keeping the overall functionality stable and safe.

Leverage Technology 

Now, let’s be honest: even if you have strong leadership and co-CEOs in the company to handle operations during your absence, you want to provide necessary guidance. So, sometimes, it’s great to have ways to connect with your team.  For this, having connectivity helps you stay abreast of the latest developments. Having no internet connection in remote regions is a thing of the past now as modern technology does not disappoint, even in the most remote locations on the earth. I know this for sure, as I became one of the first people to take a Starlink Terminal to Basecamp Everest at 5300m and have access to 160 MBPS internet. This allowed me to stay connected with the team while also enjoying the stunning mountains in the Himalayas.

In fact, CEOs can leverage advanced technology to ensure connectivity and monitoring of business operations, no matter where they are.

Upon returning from my trip, I found the company in perfect condition, having signed new clients and continuing to develop our tasks. Nothing had lagged behind. This makes me confident in my approach of delegating responsibility and building a trustworthy and entrepreneurial spirit within the company that can thrive even when the CEO is away.

Written by Alexander Bachmann.

Have you read?
Best CEOs. Best Companies. Richest People (Billionaires). Richest Women (Billionaires). Richest in Each Country (Billionaires).