One of our clients is adding a COO to his firm, someone to focus on running the business while he concentrates on being the “visionary” and the face of the firm. So this Wall Street Journal article with tips for incoming CEOs to smooth the transition, it caught my eye.
Sure enough, here are a few quick (but not easy…) pragmatic and helpful recommendations from an array of experienced consultants. It occurs to me that these are good reminders for ANY business head, especially during times such as these when they may need to act more decisively than usual.
Resist the pressure/temptation to be a “know-it-all”
Find some people you really trust to give you the lay of the land
Consider worst-case scenarios with cash flow, aligning costs with revenues
Set an agenda, and be decisive – demonstrate leadership
Communicate constantly – it may feel like over-communicating, but do it anyway
These times of uncertainty (and enhanced creativity!) offer an opportunity to introduce the kind of change that more stable times don’t afford. Leadership will count more than ever. Don’t blow it!