The first three months you spend as a CEO at a given company will set the tone for your entire tenure. This is not only a period of transition, but a time of vulnerability, as well. If you want to succeed in the long term as CEO, you’ve got to make an impact in those first three months.
Here are some of the most important things you can do as a new CEO to get through the transition period and make sure you tenure will be a strong one:
Prepare for the Job
Generally speaking, you should have some time before you actually move into the new position to make some preparations. There are three key areas that you need to prepare: technical, cultural and political. Technical preparations include understanding the processes involved at the company, it’s organizational requirements, its customer base, and its markets. Understanding the former CEO’s strategy will help, as well. In the cultural area, you need to understand the basic habits and values of the organization, and see how deeply they are entrenched. Politically you need to understand where the centers of power lay, and know what coalitions control the organization.
Define Success
If you believe you’re succeeding as CEO but the board doesn’t, they you aren’t succeeding. Understand what it is that the board expects, and explain to the board what you believe success will look like. Come to an agreement that is realistic and that can be measured.
Build the Right Team
You’ll probably inherit several senior executives. Some of them will be skilled, some may not. Some may be dedicated to helping the company succeed, some may be interested only in their own ambitiions. Evaluate the existing team, but be careful about removing a senior management member, but don’t hesitate to get rid of someone who is bad for the company.
Make Allies
It’s important not just to know who the key players are, but to know how to get them on board with your vision. Identify things that you can provide to those key players, and ways that you can help them succeed as well. Learn who you can count on for support and identify those people who may cause problems.
Don’t let something simple like a flat tire or failing to get regular maintenance on your Mercedes be the thing that puts you out of your spot as CEO. Come by your local Mercedes dealer in Philadelphia, Fort Washington Mercedes or Mercedes Benz - Wilmington, DE for routine maintenance and to make sure it’s in top condition.
