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8 Ways Rookie CEOs Can Succeed Faster
Entrepreneur

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According to an article in The Wall Street Journal citing research from Strategy& (formerly Booz & Co.), about 76 percent of top CEOs departing for any reason last year were rookies, up from 58 percent in 2011.

Why do so many rookie CEOs fail? I believe the biggest reason is that the CEO role is 180 degrees different than any other executive role. A CFO or vice president of sales, for example, has deep expertise in his or her functional area and is used to being the master of his or her domain. A rookie CEO is confronted with an array of issues in areas in which he or she has no expertise.

What then are the keys to being successful as a rookie CEO? Here are eight ways these newbies can set themselves up for success from Day 1.

1. Understand the job.

Rookie CEOs must have a clear understanding of the five key responsibilities of a CEO if they want to succeed: own the vision, provide the proper resources, build the culture, make good decisions and deliver performance. Only then can they move forward and plan their time accordingly, instead of being driven by the issues of the day.

2. Don’t buy into the hype.

Rookie CEOs enter a strange new world: All of a sudden, their jokes are funnier, their ideas are better and they are smarter -- at least according to the people they work with every day.

Even employees who are not consciously seeking favor will temper their remarks in a CEO’s presence....

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