As a new CEO, the first few months in the role are crucial for making an impact and setting the business on the right path. It’s a time when you have the opportunity to see the company with fresh eyes and make real changes that can lead to long-term success.
After a two-year hiatus, I was reappointed as the CEO of the POS and payments platform I founded. This gave me a unique perspective as a returning founder, but the same principles apply to any new CEO stepping into a leadership role.
Listen Before You Act
One of the most important things a new CEO can do is listen. Starting by building trust with employees, customers, and stakeholders is crucial. Speaking with various individuals within the organization can provide valuable insights and help identify areas for improvement.
Taking a cue from successful CEOs like Oscar Munoz, who initiated a listening tour at United Airlines, I made it a priority to connect with employees, customers, and shareholders. By listening to their feedback and perspectives, I was able to gain a clear understanding of the business landscape and identify opportunities for growth.
Seize the Moment to Act
Once you have gathered insights and feedback, it’s essential to act decisively. As a new CEO, you have a unique opportunity to make significant changes that can impact the company’s trajectory for years to come. Whether it’s shifting focus, adjusting operational practices, or implementing new strategies, taking action is key.
Studies show that early changes made by a new CEO can have a compounding effect on the business’s success. Being decisive and proactive in implementing changes can lead to improved financial performance and employee satisfaction.
Striking a Balance
Navigating the early days as a new CEO can be challenging, but finding a balance between appreciating the company’s past achievements and making necessary changes is crucial. It’s important to show empathy, respect for the work of others, and humility in leadership.
Ultimately, success as a new CEO is about creating alignment within the organization and building excitement for the future. When employees and stakeholders feel aligned with the company’s direction and there is energy to move forward, you know you’ve got it right.
By making the most of your fresh eyes moment, listening attentively, and acting decisively, you can set the stage for long-term success as a new CEO.