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What CEOs can Learn From World Leaders’ First 100 days

As any leader will tell you, the first 100 days in the new role are crucial. Taking on a CEO role is no different. As Donald Trump can confirm (or tweet in his own redoubtable way), everyone is watching for an indication of future failure or success. By Janhavi Dadarkar, Lead for “Governance and the Role of the Director” Course at the Institute of Directors.
development

As any leader will tell you, the first 100 days in the new role are crucial. Taking on a CEO role is no different. As Donald Trump can confirm (or tweet in his own redoubtable way), everyone is watching for an indication of future failure or success. By Janhavi Dadarkar, Lead for “Governance and the Role of the Director” Course at the Institute of Directors.

Whilst new CEOs rarely court publicity on their recruitment campaign (or afterwards), as world leaders do, there are some parallels and many lessons for aspiring and new CEOs. The first lesson a CEO can learn from global leaders is that your first 100 days should begin well before your first 100 days. Whilst this sounds like an oxymoron, no leaders progress to the pinnacle of their aspirations without preparation and a systematic approach. Becoming a CEO however, is different because it doesn’t necessarily follow a prescribed career path. A CEO is typically appointed or chosen because they are good at something operationally and they know either the organization, or the right people. But being CEO is fundamentally about leadership and responsibility for the governance and stewardship of the organisation – a responsibility they share with the rest of the board.  So preparation for this new role is essential.

Whilst most CEOs have experience, expertise and training on the operational aspects, rarely have they had any guidance on being a CEO or even a company director. So, do your research, talk to other CEOs and don’t over-promise on your ‘campaign’ trail. It is important even before you start, that you understand your roles and responsibilities. Whether you are a CEO of a start-up, inheriting a role in the family business or taking the helm of a top FTSE company you must do the ground work and due diligence. Meet the right people, do the background checks and articulate what you will bring to the organisation. This isn’t just about the interview or getting the job, this is to help you formulate a strategy and set a tone that is aligned with relevant stakeholders including those voting you in or, for your sceptics, demonstrates clarity of purpose, integrity and transparency.

Secondly, whether you are promoted or hired in, a change at the top often fosters an expectation or even desire for change elsewhere.  This may come from within the company from the boardroom, employees, shareholders or from external stakeholders (friends or foes). This can tempt the uninitiated director or CEO to feel they must make immediate impactful decisions to stamp their mark, but as a director and CEO you should strive for impact through long term sustainable success. In your first few weeks listen more than talk and target the assured smart wins rather than huge changes which have not been pre-planned. Other than in exceptional cases such as turnaround or insolvency type situations, don’t succumb to the pressure to change everything in the first 100 days.

Another important learning point for the first 100 days is about focusing on surrounding yourself with a good team. As the CEO, you are ultimately responsible and you may have to take difficult decisions, but decisions made collaboratively with teams of good people and good processes are more robust. You will naturally bring a fresh perspective but don’t forget existing know-how and positive collateral both in terms of people and assets that exist within the organisation.

During your first month concentrate on developing and inspiring trust. You are aiming for long term success so the first 100 days should be invested in building trust – an accelerator to help achieve your strategic goals.  As the CEO – don’t become aloof, ensure you know your people at all levels and at the end of the first month don’t forget to thank those that helped you get yourself and the company to the position it’s in.

Finally, remember the first 100 days are just the start. You have to pace yourself and continue to evaluate and improve your own performance. Becoming a CEO does not mean you have reached the zenith and there is nothing more to learn. Ensure you have appropriate challenge and stimulation in the boardroom and on a personal level invest some time in finding the right coach or mentor. Being a CEO can be an immensely lonely job but with the right preparation, people and approach your first 100 days will set you up for a more successful long term. Good luck.

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