Promotion to the chief executive officer is a major jump. Seeing that CEO title beside your name can feel great, but it also signals a big change. While you might have been in the upper levels of the company before, being the CEO means that you are at the top. Things will be very different for you. If this is your first time to be given the CEO position in any company, then you need to prepare yourself for a shock. Your life is going to change and here are some tips on how to help handle that.
Take Note Of Every Move
You are the CEO, and that means you are one of the public faces of the company. As the technical head of the company, you can expect to face a lot of scrutiny. All of your actions can affect your company. For example, if you are combative with a reporter in an interview, analysts will be all over it and say that it is a sign of weakness or something similar. It would be best if you were careful with all the things that you say or do. It can be exhausting, but it is part of the job, so you have to deal with it.
Be Aware Of Safety
One thing that new CEOs forget about is personal safety. They usually drive their cars, walk unaccompanied, and more. They are unaware of how important they are to the company. Fortunately, most big businesseshave executive protection for their C-level employees. These are all the top executives of the company with the “chief” as part of their title. This is important because CEOs, CIOs, CFOs, and more quickly become public individuals. People on the street will read about you in the newspapers and see you on TV. This can quickly lead to criminal activity aimed at you. So ensure your safety by listening to your protection detail or hiring executive protection for your company.
There Will Be a Lot of Work
While a lot of the popular imagery of CEOs has them drinking cocktails and jetting all over the world, it is not all that. While there are a lot of perks, ranging from a big salary to other benefits, the company expects you to work for it. Your main job is to watch over the business and ensure that it is working like a well-oiled machine. This means reading and analyzing a dozen reports that come in every week or even daily. You also have to be aware of the competition and take steps to outmaneuver them.
These and other duties can quickly swamp you. If you are not careful, this can lead to early burn-out. You must have a solid work-life balance through the proper use of time management. You can also hire a personal assistant to help you handle the crush of work while also learning to delegate some of your tasks to the others on your team.
Take Note Of Yes-men
One of the problems with being promoted to the top spot is that there will be a lot of people who are looking to ingratiate themselves to you. They will tell you what you want to hear and do their best to make themselves look good for you. That is something you should avoid. If possible, you should be looking to build a team of truth-tellers. Truth can be painful, but it is important in business to ensure that you are making the right decisions. Once you find someone willing, to tell the truth to your face, then you should seek feedback from them regularly. Reflect on what they have to say and make your decisions based on their advice.
Look For Ways to Connect
It can be very lonely at the top. You will likely not have other employees to connect with as peers. But this does not mean you should be in isolation. You must know the feelings and ideas of your employees. You need to look for ways to communicate with them. A good example would be an executive town hall, where your employees can voice their concerns to you. You should also reach out to middle management, so you have a good working relationship with them. These connections will give you a better idea of how your company is doing.
Reaching the position of CEO is the product of a lot of hard work. You’ll want to keep it as long as possible. To ensure that, you need to be ready for all the challenges that it brings with it. The advice above should help point you in the right direction.