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How to Become a CEO Without Getting Carried Away on Spending

If you’re working hard to forge a successful career within a company, then the chances are that you dream of being a CEO one day. These captains of industry are very often considered to be the pinnacle of career aspiration for the power, status and rewards they enjoy.

For many people, it’s simply being able to test their leadership skills and help the company succeed that drives this ambition.

If you’re getting close to becoming a CEO — or simply planning for the future when you do — then you may be worried that this step up will mean spending lots of money. After all, when you think of being a CEO, a lot of what you picture may revolve around cash. From flashy cars to expensive suits and fancy lunches, you may fear that being a CEO could cost you more than it gives.

Become a CEO and protect your bank balance

The good news if you’re thinking like this, it’s simply not true. It’s perfectly possible to move into the CEO arena without getting too carried away with your spending. Here are some great ideas to help out:

  • Don’t compete with others. When you’re aiming to become a CEO, it is very tempting to feel like you have to keep up with other CEOs or senior managers in your company. Don’t do this! Though you naturally have to project the right image, it doesn’t mean that you need to buy a Lamborghini or expensive hand-made Persian rugs for your office because the VP next door does.
  • Prioritize your spending. While you do not want to go crazy with your spending when a CEO, you will need to get the essentials to carry out the role effectively. After all, no one is going to take you seriously if you do not give off the right image. The key is to budget and prioritize your spending to keep it under control.
  • Occasional treats. When it comes to looking after your spending on the road to the top, it is wise to have an occasional treat. This will not only allow you to enjoy any new position but will also stop you from making larger splurges for which you’ve not budgeted. All humans need to feel like they get some positive rewards from time to time, and this sort of treat is ideal for meeting that need.
  • Don’t get caught up in the buzz. There is no doubt that moving into senior management spheres is very exciting, and this can lead you to spending too much cash socializing on nights out or luxury items you don’t need. The odd treat is fine, but don’t get carried away with what you think a CEO would do.
  • Focus on values and behavior. When it comes down to it, becoming a CEO is not about spending money or wearing designer clothes. It is really about leadership, dealing with people properly, and working hard to move your company forward. All these things will not cost you anything and are much better to focus on in the long term.
  • Focus on work. At the end of the day, if you’re working, then you’re not spending. The added bonus of putting your energy into work rather than spending is that you’ll achieve more and be more likely to bag that CEO role as a result.

Resist the urge to splash out on regular holidays throughout the year — get down to business instead. Mark Green is someone who shows how the road to the top of any career is due to hard work and behaving in the correct way. His rise to the top in both the medical and political arenas was a result of hard work, rather than spending lots of money on material items.

Becoming a CEO doesn’t mean spending lots along the way

The real truth behind becoming a CEO is that it can be done without spending lots of cash — your best bet is to put your attention and energy into working hard in your current role and moving into senior positions because you deserve it; best of all, it’s easier and less expensive. Most CEOs do it this way, and this is certainly much better for your finances than trying to impress people with your possessions.

Photo Credit: DonkeyHotey

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