Transitions of leaders in businesses can be surprising, especially for the new leader. Here are the common surprises new CEOs face, and how to tell when adjustments are necessary.
Surprise One: You Can't Run the Company
You are in too many meetings and involved in too many tactical discussions.
There are too many days when you feel as though you have lost control over your time.
Surprise Two: Giving Orders is Very Costly
You have become the bottleneck.
Employees are overly inclined to consult you before they act.
People start using your name to endorse things, as in "Frank says…"
Surprise Three: It Is Hard To Know What Is Really Going On
You keep hearing things that surprise you.
You learn about events after the fact.
You hear concerns and dissenting views through the grapevine rather than directly.
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Transition within companies is the most important time to reap wealth for your hard work. Loewen & Partners advises owners on how to get the most value out of their businesses.