Lesson 49: Preparation
“I am running my life today, like I will be an executive tomorrow,” Loic Tchebetchou told me over the phone this week. He is a first-year joint MBA/MA candidate at The Wharton School & The Lauder Institute, and we share this ambition to become an executive. Loic treats his education as preparation for his future. As I turn 30 years old this year, I have this hankering to prepare for the next 30 years.
When I look ahead to 60 years old, I see a CEO. The average age of a Fortune 500 CEO is 58 years old. Chris Womack is one of those CEOs, and he was appointed to this position at the Southern Company in 2023. Born in Greenville, AL, Mr. Womack started at the Southern Company in 1988, and most recently was CEO of the Southern Company’s largest subsidiary, Georgia Power. At age 65, he is responsible for providing clean, reliable, and affordable energy to 9 million customers across the southeast United States. How did he get there? He prepared.
Becoming a CEO is not only about preparing yourself, but it is also about learning to prepare your organization for its future. As leader of one of the largest energy providers in the U.S., you must understand the drivers of demand in your industry. The southeast U.S. has become a top destination for electric vehicle and battery manufacturers as well as data centers. Goldman Sachs predicts energy demand from data centers will grow by 160% by 2030. What is Chris Womack doing to respond to this increase in demand?
The same year Mr. Womack took the wheel as CEO, the Southern Company opened Plant Vogtle in Georgia. This is the largest generator of clean power in the country to meet the anticipated demand of millions of customers. His 30+ years with the Southern Company took him through various roles, such as human resources, public policy strategy, and external affairs. Each of these led to the skills, experience, and relationships necessary to guide the massive $90 billion ship that is the Southern Company. How do I get ready to guide my ship in 30 years? Act like a CEO today.
Loic told me how he treats this experience in school as executive training. Each opportunity builds the skills, experience, and relationships necessary to be a CEO. I will acquire my first company next year, but this first business is training to become CEO of the next business. Eventually, I will own a portfolio of operating companies across the country. Over 30 years, I will garner the wisdom to coach the leaders of these companies through challenges their businesses face.
My values are to act with love, humility, and wisdom. Each experience over my first 30 years prepared me for business school. Each experience over my next 30 years will prepare me to be a CEO. Chris Womack did not become prepared overnight, but each day of preparation stacked onto the next until he was ready. These weeks of writing Nuance are stacking together to prepare me to acquire my first great business. Once I close, I will have been thinking like a CEO long before it became a reality.
This is Lesson 49: Preparation. Next week is Lesson 50: Midpoint.
