In a corporation, the Chief Executive Officer, or CEO, is the person who hands down the company’s vision, mission and values. They set the business on the correct path and give everyone their marching orders. I don’t know about you, but that sounds a lot like my mom. And it brings to mind a line from the movie, My Big Fat Greek Wedding. After saying, “the man is the head of the house,” the wife goes on to say, “the woman is the neck, and she can turn the head any way she wants.”
So it is with the household CEO, which is more often than not, the wife.
As the CEO of your family, your job is to:
• Set the strategy — establishing what will and won’t go on the family calendar, the Bible by which every family lives.
• Review the household P&L (profit and loss) statement — balancing the checkbook, monitoring bank statements and depositing paychecks.
• Establish the budget — setting allowances and paying bills.
• Define the supply chain — determining which stores your family will favor.
• Manage risk — taking family members to preventative healthcare checkups and equipping children with protective gear like helmets.
• Bring in the appropriate consultants and advisors — leaning on friends and family members to assist as necessary.
• Authorize corporate events — planning birthday parties, family outings and other fun stuff.
• Adapt the strategy as events warrant —rescheduling dentist appointments, play dates and more at the shortest notice.
Many domestic CEOs also have a corner office, but it’s more than likely a soccer field or park. While it’s true, the household CEO’s decisions rarely pertain to multibillion-dollar deals, you control the ultimate success of your family, which is priceless.