Unless you are paying no attention at all, you'll know. It's made pretty clear.
You're the guild master once you complete "Under New Management"...which requires you to complete all of the previous main quests of the TG questline, as well as all of the city influence quests that get unlocked when you do a certain number of radiant quests from Delvin or Vex in a particular hold
I've now done 25+ side jobs (mostly for Vex) and completed 2 City Influence quests!
So the Flagon now has two new merchants I've never seen before...
I just keep hammering away at it, and won't take the Skeleton Key back until I make further progress.
But I'm Level 46 now, and haven't even been to Winterhold/Morthal/Dawnstar etc. (let alone Dawnguard/Dragonborn)!
Tick tock...
But finishing the main TG questline without the official Guildmaster ceremony (and armor) feels kinda... shallow.
So this time I'm doing it right!
(I just hope I live long enough, heheh... it's plenty time-consuming)