The opinions expressed by Entrepreneur authors are their very own.
Taking on a leadership role—especially as a new CEO—comes with its own set of concerns and challenges. For many, this may trigger “imposter syndrome,” causing doubts about their ability to meet the demands of the new position. Some new leaders feel stuck at first, unable to make decisions for fear that the incorrect one could harm the company and threaten its credibility.
They overanalyze in an attempt to avoid mistakes, or refuse to change course when they realize they have made a bad decision. Then comes the pressure of building good relationships with management board members and gaining the trust of their employees. And finally, there is anxiety about the surprises or unexpected challenges that may arise as they learn more about the inner workings of the company.
Although these feelings are common, there are ways to alleviate them. Here are some strategies new leaders implement to ensure a strong and confident start:
Ask questions and practice lively listening
The first step great leaders take to build confidence is to seek feedback from their team. Successful CEOs stay curious fairly than considering they have all the answers from the start. They prepare for every meeting and conversation by considering about the right questions. This means taking an open and neutral perspective, fairly than assuming that the previous strategy needs to be modified or even that the previous company’s successful approach may even work in the new one.
At first, CEOs may hear conflicting opinions from different stakeholders. The only way to root out the truth is to listen to everyone. Regular interaction with employees broadens a new CEO’s perspective, helps him or her make more informed decisions, and creates a learning environment based on mutual respect.
Seek diverse perspectives
Just because it is vital to hear from those inside the company, effective CEOs gain perspectives from others outside the company. This means listening to customers about what they like and how the business could be improved. Great leaders also seek insights from other CEOs who can offer unbiased feedback. Over 65 years at Vistage, we have seen leaders with high integrity profit from CEO peer groups where leaders leave their egos at the door to focus on improvement. They actively combat insular considering and confirmation bias by learning from other CEOs who understand the nuances and challenges they face.
New leaders profit from being surrounded by trusted colleagues from non-competitive corporations, while other members gain fresh perspectives from first-time CEOs. It is a model of reciprocity, give and take, that uplifts everyone. Whether you learn from clients, colleagues, experts, books or mentors, focusing on continuous learning and skilled development helps build leadership confidence.
Celebrate reaching milestones
For the new CEO, credibility have to be earned through motion. And while many are tempted to change the whole lot at once, great CEOs set realistic expectations for what success will appear to be, especially in the first 12 months. By achieving incremental goals from the starting, leaders can show progress. Celebrating these milestones with your team, irrespective of how small, creates a positive attitude throughout the company. Team members value recognition for their efforts and derive satisfaction from working together to achieve common goals.
Balance immediate and long-term challenges
CEOs often face the dual pressure of meeting immediate business needs while establishing long-term strategies. This balancing act requires a nuanced approach – knowing when to take decisive motion and when to pause to make more informed decisions. By actively engaging in solving critical operational issues, new CEOs can quickly build credibility with their teams. This deepens their understanding of the business while strengthening their repute as dedicated leaders. This, in turn, fosters respect, which is essential for any new CEO who wants to make a positive and lasting impact. The ability to refine strategies based on new information is crucial to building trust in organizations.
Demonstrate leadership values
When new leaders enter the workforce, current employees first consider what their values are. Leaders who spend time reflecting on their leadership values are able to communicate them authentically from the very starting. When CEOs consistently show clear values in their words and actions, it provides a strong foundation from which to lead. It sets the tone for what type of culture and operational policies shall be accepted under new leadership.
Communicate the vision
It may take a new CEO some time to prepare for the company’s vision. However, once the vision is established, it is crucial to effectively communicate the strategic vision and operational plans. Communication establishes a clear roadmap, manages expectations, and stabilizes stakeholder trust during periods of transition. Creating an environment of transparency and understanding fosters trust between leaders and employees.
Dealing with complex leadership issues as a new CEO requires being proactive and building credibility through consistent and transparent actions. These strategies lead organizations to success while creating a culture of trust and support – which are essential for any business to thrive in the long run.
By listening, encouraging engagement at all levels of the organization, and maintaining flexibility in executing strategy, new CEOs can lead with confidence. While the leadership journey comes with challenges, it also offers opportunities for personal and skilled development, resulting in a transformational experience.