Everything starts with strategy. As the new CEO, your new team, customers, suppliers and employees across the organization will be forming their first impressions of you and are looking for your take on the business. Therefore, part of your preparation will be to articulate your key themes in a clear, constructive, punchy way that instills confidence in people that they have a strong leader at the helm.
Your overarching vision — your views on where the business sits in the competitive landscape, the metrics for measuring success, and your vision for taking the company forward — will serve as the basis for all of your conversations in the early days and many of the decisions you will have to make about people, processes and culture.
What Experienced CEOs Have Learned
While you don’t want to come into the job with entirely pre-determined views and a complete strategy, you will need an “elevator speech” covering your views on where the company is going to play, how it is going to compete and the metrics that you will use to determine success.
The success of the business is not on your shoulders alone. Build a strong team and rely on them to help define and achieve strategic and operational objectives. Tap experts when you need them and consider identifying a mentor — typically a current or former CEO independent of the company — who you can turn to for advice and ideas.
Finally, don’t underestimate the physical demands of the job. The early days, especially, will be grueling, so getting in your best physical shape will be vital.
Preparing for the transition: Checklist
Before you start
- Develop a formal transition plan.
- Review feedback from the hiring process to identify personal developmental needs, including the assessment if conducted and findings from 360-interviews and reference checking.
- Meet your admin before you start.
- Ask for a briefing book, including strategic plans and other materials for homework.
- Determine and schedule individual management meetings, e.g., top-20 executives and the most important and insightful clients and customers.
- Determine and schedule internal group meetings.
- Prepare your family and/or personal support base for the intense ride ahead.
- Get in physical shape; your stamina is about to be tested.
First 100 Days
- Seek introductions to coaches, experts and other CEOs who may serve as resources.
- Consider assigning a “program manager” to help coordinate your schedule internally and externally.
- Keep a journal of your ideas, reactions and emotions during the first 100 days. The things and feelings you notice can be a huge source of insight — you may never get as close to being an outsider later on.
Day 101 and Beyond
- Check in on your development progress with key stakeholders at mid-year and year-end.
Additional Resources
Spencer Stuart Insights
