Being a first time CEO is always going to be really difficult. There is a lot of stress and responsibility that appear. In most situations the CEO that does this for the first time will end up making huge mistakes. That happens because of a lack of knowledge and experience. While there is no shortage of great examples in the world, like Charles Phillips, Infor’s CEO, we do tend to try to do things differently, alone. That is not always the best idea for the first time CEOs.
If you are a first time CEO or you think about getting this job title as a deal was offered, here are some things that you have to always remember.
Always Be Approachable
We should say that you have to be truly approachable. What is vital as a CEO is to be completely honest and open with the employees. The company culture that you build will have a huge influence on how the entire company goes. If the culture is a positive one and employees will have no problems in talking about both the good and the bad, everything is improved and efficiency is much higher as many communication problems are going to be removed.
Always Think Long Term
Because it is the first time a person works as a CEO, he/she will be tempted to try to get results as soon as possible. This can actually hurt the entire company since it is practically building for exit as opposed to building for success. There is no reason why you should not be open to eventually sell the company but if this is your goal, the one that is set in the back of your mind, huge problems can appear. You are interested in building for success. A small company will move fast and will change fast. This is something you can use for your advantage.
Always Communicate Properly
Everyone keeps talking about the fact that communication is vital for the success of a team but when first time CEOs start to work they tend to forget about this as they are focused on something else. It is very important that you take the time that is needed to judge the situation. At the same time, you want to be aware of everything that happened. You can only do this if you will communicate properly with the team that you created. A new team often has many answers for the CEO transition that happened, including what led to you becoming the CEO. That is the type of information you need to have in order to succeed on the long run.
Be A Leader, Not A Boss
One of the biggest problems with first time CEOs is that they are not leaders, they are actually bosses and they are perceived as the boss. That can hurt the entire experience. You should not try to be what is referred to as an accidental leader. You have to plan the leadership model and follow it to the letter. Never focus on something that another CEO did in the past. This will hurt the results that you get.