When are CEOs ready to lead? According to Harvard Business Review (HBR), 68 percent said they were not "fully prepared to take on the CEO role." The same survey also reported that out of the 403 CEOs from over 10 countries they talked to nearly half found that several of their initial tasks were more difficult than they had anticipated. For example, changing the company's culture and creating their executive team. Not to mention, many felt that they lost all personal alone time.
How can companies take this data into consideration in order to prevent a challenging transition for a new CEO? Brandon Frere, CEO and start-up launch expert, believes there is more than one way to drive change without causing too much turbulence.
For example, the HBR article highlighted the importance of "curiosity, learning and adaptability." Frere sees these characteristics as extremely important. However, he has his own ideas on what it takes to become a strong leader that adds substance. "Through my struggles as an entrepreneur, I have learned to live in the present moment and accept realities," Frere added. "I realized I could control my own destiny with drive, determination and money. How could I lose with that type of mentality?"
Another problem new CEOs face is not asking for help when they need it. Most companies have board members that CEOs can rely on for advice, such as the board chairman. Surprisingly, 62 percent of leaders said they did not rely on the board for "honest feedback." An additional 72 percent did not try to get advice from other leaders at their companies. HBR's resolution to this problem is to have the executive teams, including boards, develop robust communications policies and procedures between them and CEOs.
The survey also discussed how lack of time was a key issue. CEOs who feel pressed for time may also feel impatient and that they have to - as the survey put it: "do it myself." Brandon Frere doesn't use a time management technique to help him navigate the headwinds of leadership. Frere says that not "setting his alarm" allows him to be open and keep his creativity flowing. He also acknowledges that he has excellent executive teams at his businesses who empower him to do what he does best - "organize people and watch great things happen." While one study may offer insight into what does and doesn't work for CEOs that lead businesses with over $2 trillion in combined sales, it is important to note many enterprises, like Frere's, have their own methods to success that are also very profitable.
About Frere Enterprises
Run by CEO Brandon Frere, Frere Enterprises is a California-based company with a global vision based around the usage of special financial technology, or SpecFinTech, with a current focus on financial wellness and productivity.
He has designed and created multiple companies to meet the ever-demanding needs of businesses and consumers, alike. Frere's website, www.FrereEnterprises.com, is used as a means to communicate many of the lessons, fundamentals and information that he has learned throughout his extensive business and technological endeavors. Through Frere Enterprises, he aims to apply those lessons to other business opportunities.
Frere Enterprises' mission is to acquire traditional businesses and digitally transform them to meet and exceed modern day demand. This mission seeks to transform such businesses by developing the newest and most evolved technologies to speed up the evolution of financial services in order to meet the demands of the modern consumer and exceed the potential of the modern era.