The Long Game: Why New CEOs Should Ditch the 90-Day Sprint for a Strategic Marathon

When stepping into the C-suite, new CEOs are often bombarded with the same age-old advice: “You have 90 days to make an impact!” This mantra, while well-intentioned, can lead even the most capable leaders astray. After all, rushing headfirst into bold initiatives without a firm foundation of trust and support is akin to building a skyscraper on sand.

According to a compelling study involving nearly 1,400 CEOs, it turns out that gaining the confidence of employees, stakeholders, and board members takes much longer—an average of two years. Yes, you read that right: two years. So, why do we still cling to this 90-day myth? It’s like believing that a single swift kick can open a stubborn door when, in reality, it requires a well-placed turn of the handle.

The Pitfalls of Rushed Decisions

Let’s look at a few notable examples that illustrate the pitfalls of rushing into action.

Take the case of John Chambers, who became CEO of Cisco in 1995. Instead of diving headfirst into major acquisitions or product launches, Chambers spent his early days understanding the company culture, listening to employees, and building relationships. It wasn’t until he had established trust that he was able to lead Cisco through transformative acquisitions and significant growth.

On the flip side, consider Marissa Mayer’s tenure at Yahoo. Mayer, stepping in as CEO with a reputation for innovation, launched several ambitious initiatives, including the acquisition of Tumblr. However, she faced backlash due to her top-down approach and lack of stakeholder engagement, which ultimately led to a tumultuous tenure.

The Path to Trust

So, what’s the secret sauce for new CEOs looking to build trust? The authors of the referenced study recommend a patient approach, and here’s how to do it:

1. Set a Deliberate Pace: Instead of rushing to make an impact, take the time to understand the organization’s culture and its people. This involves active listening and observing the existing dynamics within the company.
2. Pick Your Battles: Not every issue is worth fighting for. Identify the challenges that matter most to your organization’s future and focus your efforts there. By tackling the right problems, you not only demonstrate strategic thinking but also build credibility among your peers.
3. Engage Stakeholders Wisely: Timing is everything. Engage with your stakeholders—employees, board members, and customers—when the time is right. This means understanding their perspectives and concerns before presenting your initiatives.
4. Communicate Transparently: Trust is built on transparency. Share your vision and rationale behind decisions, and invite feedback. This fosters a culture of open dialogue and mutual respect.

The Long-Term Benefits

Leaders who adopt this methodical approach can generate remarkable increases in company value over time. Research shows that organizations led by trusted CEOs experience higher employee engagement, better performance, and ultimately, greater financial success.

In conclusion, the journey to becoming a trusted leader is a marathon, not a sprint. By focusing on building relationships, strategically choosing initiatives, and engaging stakeholders thoughtfully, new CEOs can lay a solid foundation for lasting impact. As the adage goes, good things come to those who wait—especially in the world of corporate leadership.

Summary

Believing the conventional wisdom that they have roughly 90 days to prove themselves, many new CEOs get into trouble by launching bold initiatives before they’ve won the support and trust they need to effect change. According to a study of nearly 1,400 CEOs, earning people’s confidence actually takes two years. But leaders who focus methodically on gaining it can generate remarkable increases in company value. Drawing on their research and experience, the authors advise incoming CEOs to adopt a patient approach by setting a deliberate pace, picking battles strategically, and engaging stakeholders when the time is right.

This isn’t just a lesson for new CEOs; it’s a reminder for all leaders that patience and strategy often yield the best results. In a world that increasingly glorifies speed, perhaps it’s time we celebrated the art of waiting wisely.