Those who have managed to become CEOs of successful companies must have done something right along the way. Analyzing their trajectories as entrepreneurs can help today's young leaders figure out how to grow their own businesses into successful enterprises.

One notable name for them to keep in mind is Michael Mayo, the president and CEO of Baptist Health. Based in Jacksonville, Florida, Mayo boasts an impressive resume that spans over three decades of experience in the healthcare industry. Before landing his current role, he held high-rank positions at other related companies in the U.S., including Orange Park Medical Center and Frankfort Regional Medical Center where he served as CEO, as well as the Memorial Hospital Jacksonville and the Methodist Dallas Medical Center where he served as COO and president, respectively.

Speaking on Becker Healthcare's podcast, Mayo shared his #1 tip for up-and-coming leaders: "Always be a lifetime learner." He believes that no matter how much experience a person has, it's never too late to continue the learning process. Such is not only for one's own benefit, but also for the benefit of the teams that he or she is building. He went on to add that he himself recently went back to school to complete his doctorate degree in health administration at the Medical University of South Carolina in Charleston in pursuit of more skills and knowledge.

"Lifelong learning is very, very important. And I think that emerging young leaders should always keep that at the forefront."

Mayo also says that communication skills are vital in any business. The ability to articulate one's position and thoughts to the people one is working with is an important skill for any leader to have. That said, Mayo also believes that the most important part of communication is not being able to deliver a message, but being able to listen.

"I always laugh and say, follow the adage: God gave you one mouth and two ears. So proportionally use them."

Mayo advises those who are serious about taking on a leadership role in a company to find a mentor, coach, or confidant who can guide them through their decisions. Ideally, it should be someone who one can trust with sensitive information and who is not afraid to offer honest feedback.

Lastly, Mayo says it's important to keep one's health in mind, especially since this line of work is often taxing and demanding. "If you are not conscious about maintaining your good health and building your resiliency, you're not going to be a successful leader. And you're also setting an example for those around you."