You're The Boss. Now What?
It's nice being the big kahuna on the block or so we think. You've been given the top spot temporarily or permanently. Now what?
Experts say that if your new top position is temporary (up to 120 days), it may not be prudent to make a lot of changes to personnel or operations. However, this is an opportunity to sharpen your skills in managing, delegating responsibilities, improving operations and increasing your strategic-thinking skills. Take this time to re-evaluate operations and to make improvements that will reflect business results that impact the bottom line, which is profit and the portfolio health of the organization. Delegate responsibilities to others, so that they can also sharpen their skills, which will help more employees to prepare for greater responsibilities. This should also align with the succession plan for your company and help develop more employees into top performers.
If your new position is permanent, then go ahead and roll up your sleeves, because you have work to do. Before making any changes or rash decisions, it will be important to meet with your executive team to fully evaluate your operations and company processes. You need to determine what is working? What isn't working well? What could be improved? How can you decrease operations cost and increase profits and business results? What are the risk factors and the return-on-investment? Once you have been briefed in all areas of operations and you have discussed the financials with your top experts, then sit down with your team to develop short-term and long-term strategies that will be beneficial to your organization.
Essentially, your new job is an opportunity to create a win-win situation for everyone! Good luck. PM