Fred Wilson states that CEOs do only three things:
a CEO does only three things. sets the overall vision and strategy of the company and communicates it to all stakeholders. recruits, hires, and retains the very best talent for the company. makes sure there is always enough cash in the bank.
the two latter things i call ABH (Always Be Hiring) and ABF (Always Be Fundraising) after the Glengarry Glen Ross quote Always Be Closing.
obviously without the overt profanity, but a good reminder for CEOs