No one ever said it was easy being an entrepreneur. Whether you're in the early stages of your statrup, just secured funding for your startup or you are ready for product launch, there will always be those three components when you ask yourself if this whole entrepreneur thing is worth it. Instead of giving up and throwing-in the proverbial white towel, this forum will help in giving you all the motivation you need to achieve your result.
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6 Crucial Things to Do in Your First 100 Days in a New Leadership Role
We all rise up to new opportunities every single day, it could be in the form of new apportionment, new jobs or new business ideas. its pretty exciting to get something new but the problem is most of us are not fully equip or not in the right state of mind to perform well with this opportunities in place. Imagine lets say you are a well known financial expert who offers ideas to people and all of a sudden out of the blue you get an appointment to lead a big company because they trust your instinct just like we have seen with some Big fortune companies and their C.E.O.s. It will be great and you might think you have the proper technical know how to rule such a company but then running a company is not only about knowing how to give good predictions you also need to know how to manage your human resources, how to deal with competition among other things. Here are 6 crucial things to do in your first 100 days in a new leadership role, these things will help you to be fully equip with the right qualities to help you perform better. This post was partly written by Matt Cain of the Entrepreneur
The rate of change in technology is unmatched. Companies are constantly being funded, getting acquired and, unfortunately, going out of business. These dynamic conditions create both challenges and opportunities for leaders. Changing roles is becoming more frequent across industries. Being able to successfully transition into a new leadership position is a must-have skill for entrepreneurs and company leaders.
Whether joining a company during a turnaround or at a time of explosive growth, the first 100 days are a critical time to make a positive impression and lay a meaningful foundation for the future.
Here’s a six-step philosophy to help ensure a strong start in your new leadership role:
1.Listen and learn.
You were hired because you bring a lot to your new role and company. But, there’s so much to learn! And it’s incumbent upon you to create an environment that maximizes your ability to do so. Create as many opportunities as you can to meet, build rapport with and establish immediate connections with employees, customers and other key stakeholders. Ask what’s working, what’s not working, where they need help, what could be better about the company and what they’d do if they were you. And then listen. While many leaders are often prominent communicators, the importance of listening is often undervalued, overlooked and underused. This will greatly inform your strategic agenda, help you get to know your new team and give you a great sense of the existing culture, good and bad.
In my first 100 days, I committed myself to setting up at least 100 1:1’s and team meetings with employees of all levels, customers, investors, partners, vendors and analysts. I also set expectations on my first day that this was on my agenda so people were ready with their feedback -- and believe me, they were!
2.Over-communicate, connect, establish trust and open the “virtual door.”
Tell people what you are going to do, do it and tell them what you learned. Transparency, action and follow-up are key for building relationships and trust with both customers and employees. Be visible and be responsive. Ensure people know where to find you and that you are open to ideas, thoughts and feedback, good and bad.
While I’ve embraced the open-door policy by locating my desk in the same open environment as all employees, I’ve also pushed open the “virtual door” by communicating activities and progress early, and often to set a precedence for transparency. It’s critical for employees to consistently have a good level of visibility into where the company is thriving as well as areas that require improvement. It’s equally important that they have the confidence to voice their opinions.
3.Slow down to speed up.
As a leader, there are often expectations to deliver results immediately. While this can be true, it’s important to fight the temptation to jump into action. Slow the pace in the beginning and fully analyze what the current state of the business and opportunities. Leaders who take a more thoughtful approach in the beginning will see higher quality results in the long run, and will also have more organizational buy-in.
When I stepped into my role at Couchbase, there were a lot of projects underway. I intentionally put a few on hold to ensure they would align with our go-forward plans.
4.Establish a parallel plan for product and market learning.
Don’t exist within a bubble. New leaders must not only understand their company and products, but also the wider market landscape. Know your customers and understand what your competitors are doing.
While you have a lot to learn, the company must continue to perform. Don’t overburden your team with your personal education. Determine what you can do on your own to get up to speed. Test out your sales enablement training. Get your hands on as many analyst reports as possible. Review past board decks. Look through team presentations. There’s a lot of content out there, so take advantage of it.
5.Integrate into the cadence of company.
Understand how the company operates. It’s important to familiarize yourself with the pace and comfort level of the company’s and employees’ operations. As a new leader, if you enter a position and vastly redesign your employees’ roles and pace too quickly, they’re more likely to experience greater amounts of stress and new leader rejection. While innovation is important, understanding the pace at which change can effectively be implemented is essential.
I started with what is working for the company. If it isn’t broken, don’t fix it. I have not modified the setup for staff meetings, timing and cadence (though content changed immediately). The same held true for our sales forecasting process, at least for the first quarter. Results matter, so ensure your entry isn’t disrupting short-term execution.
6.React to mission critical situations.
Learning and building a foundation for the future is essential, but never forget that you have a company to run and that responsibility can be delegated. You must take action in critical situations, whether internal or external, that threaten the success and growth of your overall business. Issues will arise, whether it’s a big deal, a sudden change in the market or a sensitive employee issue. Be prepared to be flexible.
Twenty percent of small businesses fail within their first year. Entrepreneurship is no walk in the park. In fact, the amount of new businesses that fail exceed the number that succeed. That’s why it’s more important than ever to create a unique product or service that helps you stand out from the rest.
However, don’t be discouraged. If you believe in your business, passion will prevail. On average, 75 percent of small-business owners are confident in their company. And why shouldn’t they be? They’ve turned their passion into profit. Yet, keep in mind it’s important not to be overly confident. Instead, take things one step at a time. Typically, 20 percent of small businesses fail in their first year, 50 percent in their fifth year and 70 percent after a decade of being in business.
A number of factors play into a business’s closing, such as location, the current market, cash flow and more. The number of reason most small businesses fail is due to cash flow, and California cities such …
Mark Elliot Zuckerberg is an American computer
programmer and Internet entrepreneur. He is a co-founder of Facebook, and is currently its chairman and chief
executive officer. Zuckerberg
launched Facebook from his Harvard
University dormitory room on February 4, 2004 with college
roommates and fellow Harvard students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. The group then introduced Facebook to other college
campuses. Facebook expanded rapidly, reaching one billion users by 2012. During
this time, Zuckerberg became involved in various legal disputes brought by his
friends and cofounders, who claimed they were due a share of the company based
upon their involvement during its development phase. Early
Life Mark Elliot Zuckerberg was born on May 14, 1984, and
grew up in the suburbs of New York, Dobbs Ferry. He was the second of four
children and the only son in the educated family. Mark’s father, Edward
Zuckerberg, is a dentist and mother, Karen Zuckerberg, is …
Étienne Arnault was born on the 5th of March 1949. He is a
French business magnate, an investor, and an art collector. Arnault is
the chairman and Chief Executive Officer (CEO) of LVMH, the world's largest
luxury-goods company. He is the richest person in France and the fourth richest
person in the world according to Forbes magazine,
with a net worth of $75.5 billion, as of March 2018. EARLY LIFE After graduation, Arnault joined his father's company,
in 1971. In 1976, he convinced his father to liquidate the construction
division of the company for 40 million French francs and to change the focus of the company to real estate.
Using the name Férinel, the new company developed a specialty in holiday
accommodation. Named the Director of Company Development in 1974, he
became the CEO in 1977. In 1979, he succeeded his father as president of the
company. CAREER In 1984, with the help of Antoine Bernheim, a senior
partner of Lazard Frères, Arnault acquired the Financière A…
Gates is an American business magnate, who co-founded Microsoft, the world’s
largest personal computer software company. He consistently rank in the top
list of the world wealthiest people, he is one of the world best known
entrepreneur of the personal computer revolution. He is also the world most
generous philanthropist, who has donated over $28 billion to charity. Here are
his top 10 rules for success. 1.Have
you are going to start a company you need so much energy that you use to
overcome your feeling of risk. At the beginning it’s going to look so scary
especially given that you don’t have any experience as in the case for most
startups, you are going to make a lot of mistakes but if you have so much
energy rushing through you, you will be able to overcome your mistakes and that
of your team, you will also be able to guide your team into achieving the
desired result because energy is contagious. 2. Have
a Bad Experience: Bill
Gates is a college dropout who d…
We were just about to start our meeting on what next to post when one of our colleague came in with Forefront magazine and showed us this very inspiring story about overcoming problems in life. Here is the content of the story.
As hard as it may be, more problems might actually mean a
closer window of opportunity. There is a saying that every single thing happens
for a reason and whatever does not kill us makes us stronger. A story by Alijo Sylvester.
The story goes like this: A young woman went to meet her mom to tell her about her life
and how things are so hard for her. She was about giving up and had no idea how
she was going to make it. She was fed up of fighting and struggling. She complained
of how after a problem, straight comes another one. Her mom called her to the kitchen. She filled three pots with
water and put them on fire. The first pot, she placed carrot, the second she
placed egg and the third she placed ground coffee bean. She let them boil without saying a word. In abou…