Top 5 Things Every New CEO Must Tackle
As Baby Boomers begin to retire, new C-suite opportunities are opening up for quickly rising talent. The challenges of stepping into a high-profile, leadership role can be varied depending on your past experience and the rate of growth of your company. Yet, despite the new challenges, new CEO’s often bring a fresh perspective to their organizations, helping their businesses propel to a new level and leverage cutting-edge strategies.
According to the leading CEO development consultants, here are the top five things newly appointed CEOs should expect to have to tackle.
Be ready for the hot seat
As the CEO your every move is often watched. Everything from how you speak to your staff, how you address disgruntled employees, even to what you post on social media can be subject to public scrutiny. For a new CEO this can be extremely overwhelming, so being mindful that you will be under the microscope can help you craft your interactions with those around you.
In due time, you will get used to the spotlight and be able to leverage your leadership skills to bring the most positive impact to your organization.
Get to know the Board
You will need to start building strategic relationships on day one. Boards can be challenging to work with or can be the glue that holds your organization together, it all depends. As a first-time CEO it may be difficult to determine how to navigate within your new role, while also meeting the Board’s expectations. This is where establishing open lines of communication very early on can be key in shaping the relationships you have with your company’s key stakeholders. Whenever possible, get to know the individuals on the Board and look for commonalities so that you can connect with them on a genuine level.
Watch out for time drainers
Work-life balance will be paramount as your new role. Even when you step out of the office, you are still the CEO of your organization. So, unfortunately, your new role comes with 24/7 business obligations. New CEOs must master time management skills to ensure that they have time allotted to fulfill their job responsibilities while also maintaining a healthy work-life balance.
Be ready to get to work immediately
Unlike with other roles that may have a brief transitional period, as a newly appointed CEO, you’re expected to be able to hit the ground running on day one. That includes fielding questions, stepping in to key hiring processes, making strategic decisions, maybe even leading your first all staff meeting. When you accept the CEO position, be ready, willing and able, to immediately assume all of the necessary roles and responsibilities that come with it.
Accept the magnitude of the position
As the leader of your organization, the “buck stops with you”. How you lead, what business decisions you make will all ultimately shape the success (or failure) of your business. And, this fact alone can make the CEO position difficult to step in to. Pursuing CEO development programs early on can be an effective way to create a network of support around you to help you navigate the decision making process and tap into the experience of other more seasoned CEOs. At The Brain Trust, our detailed coaching meetings enable CEOs, at all levels, to get the in-depth guidance they may need to improve their leadership skills and give them the unwavering confidence to lead their organization to success.
As you grow within your role, it is important to develop these 8 character traits all successful CEOs have. Click here to access that full article.
Are you a new CEO trying to navigate the new challenges of your position?
Or, are you a seasoned CEO veteran, looking to enhance your leadership skills?
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