New research finds that although a lot of first-time CEO's initially think that they're prepared to operate a company, most of them quickly realize that they actually weren't as ready as they thought, Business News Daily reports.
The River Group LLC, which is a global leadership advisory firm, has found out that only after six months after their first day at work, most first-time CEO's felt that they are much less ready than they were since they just started.
"Overall, the majority find it both fulfilling and rewarding - the best job of their loves," the said study's authors wrote. Also a part of the research, the authors shared six core experiences that first-time CEO's should be expecting to prepare for:
1. Working with the board of directors
The study has found that the unexpected demands and challenges of the board, both collectively and individually, usually surprise the first-time company leaders.
"They had to engage with the politics of the board collectively as well as with board members individually; this set much of the tone for how the board engaged with the CEO. This constant jockeying ate up much more time, energy and attention than our first-time CEO's ever expected," the study's authors wrote.
2. Serving as master and apprentice
"They are expected to have the answers - to be the 'master ' the organization requires," they wrote. "Yet at the same time, they are serving their apprenticeship, not knowing wht it is they don't know or need to know about the role itself."
3. Realizing the weight of their decision
The study found that since the CEO's have a huge impact on the lives of their employees and families, the weight of their decisions affects them the most.
"It didn't matter whether the cause of this negative impact was within their control or not, their conscience felt it just the same," the researchers wrote. "and the feeling was significant and enduring.
4. Feeling alone
"Our interviewees told us that feeling isolated is partly due to the fact that they can not be sure that the agenda of colleagues is pure and in the best interests of the organization," they wrote. "Who can they trust with information?"
5. Expressing creative vision
CEO's say that the best part about their job is the freedom to have a vision and be creative, set a course and see it through.
"They love it because they are in control of the process of creating," the researchers wrote. "The ability to make something, to express an idea and see it all the way through is the single biggest pleasure of being a CEO."
6. Seeing through the myth of control
"Listening to and engaging the collective leadership is vital, which is why politics is inevitable, and arguably at times, healthy, part of organizational dynamics - and why the CEO is at its political epicentre," they wrote. "Not recognizing and managing the impact of 'time vampires' has the potential to derail any CEO."
