XE, EXCHANGE RATES, AND MARK UPS EXPLAINED

Deciding when to make an international transfer and at what rate can be critical to protect businesses from exchange rate fluctuations. This is why risk management experts and currency specialists play an important role in the market to safeguard your profits from the volatile foreign exchange markets of the world. So if the fees charged by overseas money transfer providers like PayPal or Western Union make your heart skip a beat, you know it’s time to find someone who rises above the competition.

XE.com-history and position of the site

There are several money transfer companies in the market, so finding one that fits your personal or business requirements can be challenging if you don’t know where to look. This is where transferring money with XE eliminates the hidden fees that other financial institutions charge discreetly or otherwise.

Unlike the scores of other independent exchange services operating in the market, XE has been in the business for over 20 years and is a subsidiary of Euronet Worldwide, which itself is the leader in facilitating electronic payments between banks, retailers and consumers around the world. In fact, leading brands like PayPal, Google, Netflix and Apple use XE.com international money transfers for their payments.

XE Money Transfers

XE Money Transfer is an online foreign exchange remittance company having its headquarters in Newmarket, Ontario, Canada. The foreign exchange experts at XE ensure that the customers get the best deal when using their portal. XE.com International money transfers allow you to remit money in 220 countries and across 139 currencies, with almost every transaction being completed in a single working day. There are no fees, the rates are competitive and regular updates are sent on your phone via SMS or through email.

XE collaborates with independent third-party research companies to gather data on rates and fees. These companies then request a money transfer quote from some banks and XE for the specified amount to be transferred within a matter of minutes. These details are then recorded and supplied to XE so that the FX margin for XE Money Transfer can be calculated and passed on to the customer. With zero transfer fees, XE Money Transfer is an affordable and efficient way to send money internationally. However, there may be hidden charges levied by the participating banks, over which XE has no control.

Why do the exchange rates on XE.com and XE money transfer service differ?

Exchange rates provide an indication of how much your money is worth, if exchanged into the currency of another country. Since currency exchange transactions are happening 24×7, seven days a week, there are bound to be fluctuations in the foreign currencies that are being actively traded. These rates are known as flexible exchange rates, as they keep changing constantly from one moment to another, depending upon supply and demand.

Since most of the currencies of the world are bought and sold based on flexible exchange rates, high demand or shortage will lead to an increase in its price. The exchange rates at XE.com are linked with foreign exchange markets. When the markets are open, the rate offered to you will keep fluctuating till you confirm your transaction, after which the exchange rate is treated as fixed. In other words, the rate you see on the XE.com website is not the mid-market rate, because if the markets are closed on weekends, the rate last offered will be when the market last closed and not current.

What is the difference between interbank exchange rate and buy/sell rates?

A question that often crops up from time to time, especially for new entrants wishing to trade in foreign exchange, is that why is the buying and selling rate for a currency pair different? You will always find this anomaly whenever you open your trading portal. In order to fully understand what these two rates mean, you need to have a basic understanding of how trading in foreign exchange works.

The concepts are actually very simple. The buying price, also referred to as the bid price, of a currency exchange rate is considered to be the rate at which the market is willing to buy the currency at. The selling or ask rate is the rate at which sellers within the market are ready to offload their currency at.

The buying rate will always be lower than the selling rate, the difference being known as spread. The spread between the buying and selling rate is effectively a tool to ensure a profit for the agent who facilitated the deal. As a rule of thumb, the more liquid the asset, the smaller the spread, as when trading in Euros or US dollars which are said to be the most liquid currency pair in the world. The spread widens as the liquidity is passed down to smaller specialists who each want to claim their share in the deal.

The interbank rate, also known as the mid-market rate is exactly halfway between the buying and selling rate of a currency pair. Unfortunately, this rate is reserved for big banks dealing in large transactions, which means the average person making a smaller transfer has to pay a hefty markup for the service provider to make a profit. On average, this levy is between 4%-6% and can affect your wallet significantly if you are making international transactions regularly.

Overview

XE charges no transfer fees no matter which currency and amount transferred.XE also offers great exchange rates. However, XE is a business and needs to make a profit to survive. It is therefore important to look closely at the way XE structures the payments.

Since mid-market rate is not achievable through XE, they cover costs through markups. Markups tend to be 0.5% to slightly less than 1% over the mid-market rate for most currencies, except for a few. This against many competitors who have markups of  over 1% in all cases. It is therefore important to check the exchange rate, if you want to consider XE for sending money abroad.

Who Buys Houses for Cash

There are a lot of benefits when it comes to selling a house to a cash buyer. One huge factor out of the processing path is not having a mortgage to fund the transaction. This ultimately means that there are no stopovers like appraisals and inspections that commonly slows down the processing time to further close the deal. To put it simply, cash home buyers mean selling your house fast.

 

However, when it comes to cash buyers, it also means to be aware of the buyer’s intention regarding buying your humble abode. It is a golden rule in a seller to always make sure to not settle on the first cash buyer that comes to their doorstep after putting their sale on the market. This way, it would be beneficial to both parties and prevent regrets of negotiation and deal. One of the many elements to consider is, who buys houses for cash? If you belong to the population who has a similar question, here is some information about the people behind the idea.

 

  1. Flippers

As believed, cash home buyers are all different from intentions and purpose. One of them are what you call flippers; these cash house buyers are the people who buy a home with the intention of renovating it (so that you do not have to) or flip it into something more profitable. Flippers usually are not the picky buyers – in fact, they buy houses in any condition since the intention is just to flip it anyway.

 

However, flippers buy houses in poor condition so that it would be less expensive than those in the market. This is actually quite understandable since the seller would not have to do the usual renovations and repairs the house needed.

 

  1. iBuyer

Similar to flippers, iBuyers or Instant Buyers are a bit of the upgraded type of the category. iBuyers purchase homes that are in fairly good condition and upgrade them quickly with the intention of selling it on an easier platform in different virtual platforms. The difference of an iBuyer and a Flipper varies on the houses they choose to buy; as mentioned a while ago, flippers buy a lot of houses in any condition while on the contrary, an iBuyer buys houses that tries the bare minimum – or more than that.

 

  1. Renters

Investors flock around housing and real estate markets basically with the same purpose under their sleeves, to buy a house and turn it into profit. Renters are usually investors that buy houses in bulk or in singles to renovate it in the future and put it in the market with a higher price (depending on how big the renovation costs are shelled out).

 

Most of these are then turned into apartments or a small house compound that are soon rented out to somehow get back the closing and renovation costs.

 

  1. House Hosts

Much synonymous to Airbnb, though quite rare, some cash home buyers buy houses so that they can be house hosts for clients or customers that want to book the house for a simple getaway or when they’re out of town. This is actually a modern and good way to invest on a property since a lot of bookers are coming to the light – especially now that the pandemic has a very strict travel protocol that (somehow) enables tourists to visit a town (provided that the appropriate infection control and quarantine protocols are done).

 

Conclusion

Overall, cash home buyers are most of the time a pretty good deal, if and only if, as a seller, you would know why they’re buying a house in the first place. This creates transparency towards both buyer and seller and enables you to establish rapport as well.

Vaping: What Are The Pros and Cons?

Despite the fact that many human inventions lead to global progress and are extremely popular among people, electronic cigarettes still entail many disputes. There obviously exists a conflict of interest between Big Tobacco and Big Vaping. It results in an unsavoury reputation and myths around the e-cigs, e-liquids UK and the vaping industry in general. But are vape products as bad as media tells us? And what are the pros and cons of vaping? Let’s find out together.

What is Vaping?

Electronic cigarettes – battery-powered devices that are filled with a liquid (also called e-liquid/e-juice) which typically contains Propylene Glycol (PG), Vegetable Glycerine (VG), plus flavours and the option of nicotine. It can also sometimes contain THC. This thc ejuice is naturally derived from marijuana and can help those who are badly addicted to nicotine move on to something less addictive and less harmful. If THC products are a bit too strong then users can go lower and use certain CBD juices instead with online stores like the CBD Vape Shot available for them to look through and make a decision. These types can also help reduce the irritability that can come with nicotine withdrawal. In this way, e-cigs are considered an innovative way of satisfying a smokers nicotine addiction…

  • Propylene glycol provides a throat sensation similar to smoking.
  • A higher ratio vegetable glycerine creates more vapour.
  • Tons of flavours to choose from, that are added for personal preference.
  • Nicotine is optional, and it comes in different levels of strength starting from 0mg option (no nicotine at all).
  • Optional THC helps to calm nicotine withdrawal symptoms.

The liquid is poured in a special cartridge and heated into a vapor that is inhaled by a consumer (also called vaper). People are temped to turn to vape devices as a way to ease transaction from traditional tobacco cigarettes to not smoking at all. While ones use vaping as a quit tool, the others join vape community and make e-cigarettes an intrinsic part of their lives.

What Are Pros of Vaping?

  1. No Smell Of Smoke.

One of the most noticed advantages of vaping is that it doesn’t produce stinking smoke, that eats up into clothes, hands, hair, etc. Vaping offers a pleasant gentle smell starting of mint or fruit and ending with dessert flavours. However, there is also a wide variety of tobacco flavours out there. It’s always a pleasure to kiss a vaper.

  1. It’s Less Dangerous Than Smoking.

Public Health England (PHE) maintains that vaping is 95% less harmful than tobacco cigarettes based on their extensive research. They released a short video of an experiment, which reveals the amount of tar accumulated in lungs of a heavy smoker comparing with lungs of a person who vapes. What does lead to circumstances like that?

Tobacco cigarette contains 7,000 poisonous chemicals, 60 of them are known to be cancer causing (carcinogenic). All of them including tar are released during the combustion process. And now let’s compare a usual e-cigarette that contains only 4 ingredients already mentioned above: Propylene Glycol, Vegetable Glycerin, Flavourings and Nicotine. You may think that nicotine is exactly that dangerous element that leads to many diseases. It is not quite correct. Nicotine is highly addictive chemical. Fortunately, when it comes to e-cigarettes, adding nicotine is optional and many e-liquids are nicotine-free.

Furthermore, vaping has totally different way of getting to the lungs: there is no combustion process.

  1. Tons of Flavours to Choose.

It’s never going to be boring choosing an e-juice for vaping due to endless assortment of e-liquid flavours: fruit flavors and ending with dessert or tobacco blends. Moreover, new flavours are being created all the time, so you’ll never run out of new ones to try. However, if you are an avid smoker, according to this website there are several alternative types of bong water that could affect the taste.

  1. Control Over Vapour Output.

Most of vaping devices have control over the volume of vapour they can produce. Low-powered devices create small vapour, whereas the high-powered mods and kits are more suitable for making dense clouds. A little tune by the power output, airflow, and coil type will raise or reduce vapour production. Plus, the PG/VG ratio influence the clouds amount as well.

  1. Control Over Nicotine.

Unlike tobacco cigarettes, e-liquids come in different nicotine strengths, varying from nicotine-free to high-strength nicotine level. It’s important to pick up the right level at the very beginning of the vape journey, decreasing it gradually and reaching the cherished zero nicotine level. This way people can avoid excessive irritability and other consequences, that may appear when quitting smoking.

  1. Easy To Buy and Use.

The vaping industry improves day by day: a plenty of vape shops have appeared lately, new vape devices, e-juices, pods, tanks and accessories are daily released.

Typically, the price range varies and makes electronic cigarettes available for every taste and budget. There are all-in-one vape kits that can cost less than 10, while a starting price for a juice can be only 0.20. Online stores often run vape sale, so most of the vaping stuff can be bought at bargain prices.

What Are the Cons of Vaping?

  1. Potential Side Effects.

It’s uncommon, but there are some side effects that people connect with vaping. Dry mouth, sore throat, headache, coughing, nausea and chest pain – this is a number of potential discomfort vaping may cause. It’s worth to mention that all the above side effects can actually happen from giving up smoking and sudden nicotine cessation.

  1. Scary Headlines.

The number of myths and scary headlines around vaping industry are booming. Let’s shed some light on the most popular ones and see whether they true or not:

  • Vaping can cause popcorn lungs. While this headline appears here and there, there’s been no reported cases with popcorn lung effect got by people who use e-cigarettes.
  • E-cigarettes explode. There were some cases indeed when it might seem like an e-cigarette exploded, but in fact the batteries did. It could happen because of wrong charging of the device or using a damaged battery. This is why it’s crucial to charge the battery only with an original charger and unplug fully charged battery. Also, before using a battery, it is vital to make sure it is not damaged, has no scratches or dint. The best is to store vape batteries in plastic cases avoiding moving them around in the pocket with metal things like coins and keys.
  • E-liquids contain antifreeze. Propylene Glycol (PG) that makes part of e-liquids is also used in antifreeze production, but it does not mean that e-juices contain antifreeze itself. Propylene Glycol is an organic compound that is used in food industry, and can be found in many cosmetic products and pharmacology as well.

When reading the headlines like these, the common sense should always prevail.

  1. Stamp Of Tobacco Cigarettes.

Not all people treat e-cigs loyally. Most non-smokers confuse vapour clouds with tobacco smoke. They might be concerned about the vapour effect on their health. However, the latest medical research shows that the second hand vapour is much less harmful for health than tobacco smoke.

Major vs. Minors: 5 Things You Need to Know About Forex Before You Start Trading

Currency trading or as it is widely known as Forex trading is a popular trade market with a daily turnover of 6.6 trillion USD. It is a global marketplace where people trade currencies with other national currencies. It is really exciting to invest in this market, mainly due to it being high in energy and sucks you in. But just like any other form of investment, it is very important that investors strategize wisely before investing in forex. Here are 5 things every trader should know before venturing into the world of Forex trading:

 

Picking the best Forex broker

Before choosing a forex broker for yourself there are a few factors that you should keep in mind example, regulations, fees, minimum capital in the account, commissions, and platforms. You should always make sure that the Broker you’re choosing is regulated by a qualified regulatory body. It’s necessary that you select a good trading platform as well, as trading platforms are considered as the doorway to the forex world. Normally, the broker would give a good list of platforms that a trader can select. While some brokers also have their own platforms that they’ve developed keeping their clients in mind. These are usually more favorable than other platforms. It is also wise for a trader to know about the spread fees or the commission fees as well as the minimum deposit required for that broker before they decide to engage in trading. 

 

Currency pairs

Currency pairs are the price quotes of the value of one currency against the value of another currency in the forex trading market. Currency pairs can be classified into three categories include Major, Minor, and Exotic pairs. Major pairs are the most popular in the market and have the US dollar as one of the pairs as it’s the most traded currency in the globe as well. Minor currency pairs are normally the ones that don’t have the US dollar in the combination. Exotic pairs are combinations of currencies in which one of the pairs has the currency of a developing nation (e.g South Africa, Ethiopia, Turkey or, Brazil). It is to be noted that African currency was hit hard due to Covid – 19 and currency value took a dive when compared to major currencies of the world initially. But, after economies got back up in Africa, while major countries were still under lockdown, the value of their currencies strengthened up as well. 

 

Practice first

Personal development is really important for a forex trader and this is why practicing is necessary. It is highly suggested that traders use a demo account to test out their strategies before actually trading with real money. Forex demo accounts are offered by all brokers and they are free. Different currency pairs can be tried out and once skills have been mastered traders can choose to shift to a live account and use their own capital to make money. A trader would need time to polish their strategy which would help them to be a master in the industry.

 

Consistent trading

All traders step into the market with strategies and plans but most fail to stick to it and that’s when they mess up. Make sure that you stick to your plan along the way and stay consistent. Educating oneself is important and it’s also good to take risks as you learn along the way. But it’s necessary to stick to a strategy that works with discipline. Also, as time as experience grows it’s necessary for a trader to rework their strategy depending on their financial conditions and gains from the market. There are gonna be losses but it’s important to learn and adapt along the way. 

 

Predicting the fluctuations in the market

Old traders prefer to use statistical data on fluctuations before trading, while new traders would simply forecast the fluctuations in the market by looking at external events that might affect the economy of a nation resulting in a change in their currency value. There are people who prefer to use a combination of both methods to plan their next move before investing in. For newer traders, there are tonnes of tools on the internet that help out in predicting the changes in the market. Forex traders should also keep an eye on future trade deals or nations that might have an event that may affect the economy directly or indirectly and plan accordingly while investing. Once a trader has gained enough experience, it’s wise enough to use both statistical prediction and predictions according to events together to read the market as it helps reduce the individual cons each method might have.

 

We have come to the end of the 5 things you should know before trading in forex. Hopefully, this information will help new traders to plan out and apply it in their initial journey. It is very important that traders form up their own trading strategies and refrain from copying others as something that works for them might not work for you. 

How To Make Your Furniture Look Antique

For many people, new furniture simply does not have that softened character we see in well-worn antique items. Fortunately, age can be faked.

With solid wood pieces you have so many interesting options that are available. Just think about wood veneers. You can buy something of a very high quality from a reputable shop like Kairos Shop and then just add the veneers. You can use paint with laminates and many other options exist. However, the following are the most common ones that can be considered.

Painting The Furniture

With paint you can add some faux age without causing physical damage. In order to get much better adhesion, you can lightly scuff the surface with the use of fine sandpaper. Then, you would have to apply paint primer. Since you are going for an antique appearance, you want to get a layered look. To achieve this, you want to paint with a minimum of 2 coats of paint, preferable in different colors. Scuff through paint layers with the use of sandpaper. Then, chip away some small areas with the use of a simple paint scraper.

You can also use crackle paint, which is a great technique. A shade is covering the furniture (even coat) and you then add a crackling medium. In the top coat we see shrinkage so cracks are produced. Then, the base coat peeks through. When you want to get the lighter antique appearance, the furniture needs to be coated with the use of off-white paint. Then, wipe darker shades like golden brown into corners, seams, and all the other recessed areas.

Staining Wood

If you’re interested in Reclamation antiques, you probably already know about the process of wood staining. When the wood is pale, it looks new, no matter what species it is. Even light pine ends up aging to a shade of warmer gold after a couple of years of sunlight exposure. Darker wood stains automatically imply age. When you look at antique furniture, you see a shade that is close to black. Dark tones can be enhanced with the addition of lampblack. Use a spoon and put it over an oil lamp or a lit candle. Then, collect the residue. Stir it inside stain small bits. Do this until the color is what you want to achieve.

Scarring Wood

Wood furniture is well-worn and has an imperfect surface. This happens because of years of constant wear appearing around edges. There are also accidental dings, burns, and scratches. You can mimic marks with the use of your ingenuity and imagination.

Use sandpaper to round off the sharp edges and use a simple ice pick to produce the worm holes. Heavy objects, like a thick chain, can add dents we often see in antique furniture. Then, a wood-burning tool can leave dark spots here and there.

Wood Finishes

Nowadays, polyurethane is the very common protective wood finish. The problem is that the result is not antique-like. It is patently. You need a finish that is more convincing when the furniture was stained, scarred, or even both. Go for something more suitable, like beeswax. You can warm it and blend it with some mineral oil in order to make a paste. That paste would offer a soft sheen if lightly buffed. You just need some extra buffing or new was for touch-ups. Shellac will protect furniture surface more than wax and removes the need of sanding.

For many people, new furniture simply does not have that softened character we see in well-worn antique items. Fortunately, age can be faked.

With solid wood pieces you have so many interesting options that are available. Just think about wood veneers. You can buy something of a very high quality from a reputable shop like Kairos Shop and then just add the veneers. You can use paint with laminates and many other options exist. However, the following are the most common ones that can be considered.

Painting The Furniture

With paint you can add some faux age without causing physical damage. In order to get much better adhesion, you can lightly scuff the surface with the use of fine sandpaper. Then, you would have to apply paint primer. Since you are going for an antique appearance, you want to get a layered look. To achieve this, you want to paint with a minimum of 2 coats of paint, preferable in different colors. Scuff through paint layers with the use of sandpaper. Then, chip away some small areas with the use of a simple paint scraper.

You can also use crackle paint, which is a great technique. A shade is covering the furniture (even coat) and you then add a crackling medium. In the top coat we see shrinkage so cracks are produced. Then, the base coat peeks through. When you want to get the lighter antique appearance, the furniture needs to be coated with the use of off-white paint. Then, wipe darker shades like golden brown into corners, seams, and all the other recessed areas.

Staining Wood

When the wood is pale, it looks new, no matter what species it is. Even light pine ends up aging to a shade of warmer gold after a couple of years of sunlight exposure. Darker wood stains automatically imply age. When you look at antique furniture, you see a shade that is close to black. Dark tones can be enhanced with the addition of lampblack. Use a spoon and put it over an oil lamp or a lit candle. Then, collect the residue. Stir it inside stain small bits. Do this until the color is what you want to achieve.

Scarring Wood

Wood furniture is well-worn and has an imperfect surface. This happens because of years of constant wear appearing around edges. There are also accidental dings, burns, and scratches. You can mimic marks with the use of your ingenuity and imagination.

Use sandpaper to round off the sharp edges and use a simple ice pick to produce the worm holes. Heavy objects, like a thick chain, can add dents we often see in antique furniture. Then, a wood-burning tool can leave dark spots here and there.

Wood Finishes

Nowadays, polyurethane is the very common protective wood finish. The problem is that the result is not antique-like. It is patently. You need a finish that is more convincing when the furniture was stained, scarred, or even both. Go for something more suitable, like beeswax. You can warm it and blend it with some mineral oil in order to make a paste. That paste would offer a soft sheen if lightly buffed. You just need some extra buffing or new was for touch-ups. Shellac will protect furniture surface more than wax and removes the need of sanding.

Qualities of a CEO: 5 Things the Board Expects from You

Whether you’re looking to land a CEO position or seeking to hire a CEO for your organisation, certain qualities constitute the ideal candidate.

Is Education Important to Become a CEO?

 

Although several well-publicised college dropouts have gone on to become successful entrepreneurs and CEOs, Forbes reports nearly 40% of the Fortune 100 CEOs achieved an MBA status – and 60% were elite school graduates.

Credentials from the world’s top academic institutions will not harm a candidate’s chances of becoming a successful CEO. However, having an elite education doesn’t guarantee success. In fact, some of the world’s most famous business brains have landed the top job with little academic achievement.

 

Egon Zehnder recently surveyed 800 executives. 78% of them believed a person’s track record is a poor indicator of future success. A notable, 87% also stated an individual’s qualities and personal traits “explain the difference in performance between good and great.”

Qualities of an Effective CEO

 

Whether you’re part of a big business, or you choose to register as a sole trader and self-identify as a CEO, the following qualities are worth noting.

 

  1. Be a Good Strategist

You should be able to effectively collaborate with fellow employees at all levels, know what is required and explore potential opportunities. In an interview with Forbes, Cathy Anterasian points out a worthy CEO candidate can be a great strategist without mentioning “strategy” in their resume. She illustrates this point with an example from her time working with a healthcare board. The board was evaluating a candidate for employment who used the word “strategy” in his job application. However, he failed to convince them he was the right candidate for the job because of his inability to act in an ever-changing market.

“When we assessed his actual work, we discovered he was brilliant in ‘keeping the trains running on time’, “Anterasian explained, “but less prepared to deal with the ambiguity and complex market dynamics created by ObamaCare.”

  1. Be an Excellent Operator

 

Although the previously mentioned candidate may only have kept the trains running on time, the ability to do so is, in fact, a valuable skill. If a candidate is good at planning a company’s next steps – but incapable of mobilising processes to get results – it’s unlikely he or she will become a successful CEO.

An excellent operator should have the ability to analyse the company’s options and put them into action. Anterasian recalls a situation where a candidate missed out on a position because he was unnecessarily over analytical. His actions immobilised the company because important decisions were left unsettled and the candidate was unable to take action in critical situations. “Strong operators deliver performance. They cascade vision down to specific goals, objectives and metrics,” explains Anterasian.

  1. Be Compatible with the Company’s Culture

An organisation’s board members will pay particular attention to whether an individual can fit into the company culture and ethos. Anterasian reveals a damning statistic that suggests 70% of failed hires across all positions result from incompatibility. Luckily, if you’re an aspiring CEO, or you’re moving from one CEO role to another, you can attend a CEO peer group session to gain ideas and advice from your peers in other companies. Being CEO can be a tricky job to navigate by yourself, so it might be useful to hear what other CEO’s struggle with so that you can take their advice on board and apply it to your own situation. Hopefully, this should increase your compatibility and allow to bag that job you’ve been dreaming of.

Anterasian worked with a board in a family-owned agribusiness that was looking for a new CEO. The board decided to reject the application of an internal candidate because they felt the leader had to be performance-driven and less “family-oriented”.

An ideal candidate should find the right balance between the ruthless nature of achieving results and adapting and having an impact on existing company culture.

  1. Create a “Followership”

A good CEO must inspire the whole team, from board members right down to the rank-and-file employees, so creating a sustainable, healthy work environment that reaps positive results.

To achieve this, you must be clear when communicating your company’s plans for reaching its goals. You must also provide incentives for reaching those targets that will motivate your team. As a result, you will meet your objectives and your employees and fellow executives will trust you enough to follow your subsequent actions. The following 3-step plan is a good way to communicate goals and create an atmosphere of trust and teamwork.

1) Set a clear and compelling target

2) Communicate how you plan to achieve that target

3) Give an encouraging and results-driven purpose for reaching that target

Anterasian suggests that “followership” – where a leader creates an inspirational path and “following” for their employees or audiences- could be a deal-breaker if you can’t evoke passion, creativity and a sense of fulfilment. In an insurance succession she handled, one candidate appeared to be an excellent candidate for the CEO position, demonstrating a strong set of skills and experience. But he didn’t land the role.

His application was unsuccessful because Anterasian and the board heard some employees say that they would “march forward – but with no passion” if he became CEO. So they chose another candidate with less experience but with much more positive employee feedback.

  1. Be a Flexible Leader

With technological, financial and political circumstances ever-changing, it’s important to demonstrate your ability to adapt to the variables that may affect your company.

“No one survives as CEO who doesn’t have the aptitude and potential to adapt to suddenly changing circumstances,” says Anterasian. “Boards look for that, especially with internal candidates who, by definition, are unproven at the CEO level.”

The most telling sign of a candidate’s inability to adapt – and one that will result in rejection – is a distinct arrogance. A good CEO needs a sense of humility and the ability to take on new ideas and accept changes. They will not believe they are above everyone else.

 

It can be challenging to embrace new techniques and processes if you can’t adapt. The only way out of this is to align your perspective with current trends that could directly impact your company’s longevity.

Be Shortlisted!

Take on board the tips discussed in this article, and you should persuade the board you are the perfect candidate for CEO. You’ll also convince them you are the right person to keep the company fresh and profitable.