Here’s a good post that isn’t necessarily about being a first time CEO – but it could apply.

It’s about getting it right as the CEO – the first time.  Because with more pressure on performance, there may not be a second time.

Here are the four tips for a CEO to get it right the first time:

First, “do only what the CEO can do”. I couldn’t agree more. CEO’s can’t and shouldn’t do it all – though many try – a classic first time CEO mistake. The job of the CEO is to lead, not do.

Second, treat your Board of Directors as a strategic partner. I like the advice here – remember how you would like to be treated by one of your divisions or business units. There is a level of engagement that you will want and feel comfortable with. Less than that level and who knows what your discomfort might lead to. Same for your Board of Directors.

Third, “align the culture behind a clear business strategy”. Huh?? I wasn’t sure what that meant either. Here’s the key point – vision and mission are nice but tapping informal interactions and networks is vital to rapid, lasting change and organizational buy-in.

Fourth, set the pace for change. Sign me up 100% for this one. If the CEO is dogging it, don’t look for rapid movement elsewhere in the organization. There is a balance though, between moving too fast, making mistakes and creating setbacks vs. moving too slowly and creating complacency. The CEO needs to get it right.

Bottom line from the post – the CEO needs to be strategic and a team player. Strategic because with so many pressures, defining direction and priorities isn’t straightforward. Team player because no one can do it themselves.

Good advice for the first time CEO or the CEO who needs to get it right the first time.

People buy what you believe, not what you do.

That’s the essence of a thought-provoking book by Simon Sinek called ‘Start with Why’.

You can skip reading the book by watching this TedTalk by Sinek here.

Inspired by the book, Jim Crocker of Boardroom Metrics posted a video highlighting the ‘why’ and ‘what I believe’ of Boardroom Metrics here.

At the beginning of June, Jim Crocker, CEO of Boardroom Metrics announced that the company had expanded it’s services offering to CEO’s in several ways.

First, geographically. Boardroom Metrics  expanded it’s services to Ottawa and Montreal with staff physically located in these markets.

Second, the Company is providing advisory expertise in two new areas: employee health and wellness, and corporate learning and training. Crocker believes that companies who recognize how employee health and wellness and corporate learning are linked to performance can achieve a significant competitive advantage.  According to Crocker, “the only sustainable competitive advantage is people”.

Third, the Company has expanded its tools offering to include the Chairmans View System. Crocker was attracted to Chairman’s View because it helps CEO owners differentiate and focus on the two key elements of their role: being the owner first, and being the CEO second. According to Crocker based on almost every company he’s worked with – “the owner CEO frequently gets hung up in the day to day and stops thinking like an owner. As a result, too many private businesses owners fail to create sustainable, transferable business value. Unfortunately, the numbers show that when the majority of private businesses are put up for sale, most DO NOT succeed. Chairman’s View helps CEO owners avoid that mistake”.

Fourth, Boardroom Metrics has significantly upgraded it’s interim management practice. Now called ‘Accomplished Executives’, Boardroom Metrics now sources and places proven senior, experienced executives, consultants and professional Chairman.  The service compliments Boardroom Metrics tools and advisory services as well as standing on it’s own for companies seeking proven talent for any role.

Finally, Boardroom Metrics has launched a new website here. The site highlights the Company’s new services as well as incorporating social media and other tools for clients and senior executives to dialogue with the Boardroom Metrics.

First Time CEO is on Ning.

Ning is a social networking platform created by the founder of Netscape.  Users can create their own social networks and contribute to others.

Go here and start your own conversation with other first time CEO’s and others interested in the senior leadership, management and company performance areas.

Some conversations I’d personally love to see.

• what makes a great CEO
• how to interact with the Board of Directors
• how you know when it’s time to move on, step down
• compensation for CEO’s
• how to craft a great vision and mission
• how to go from vision and mission to execution
• and lot’s more.

Let’s chat.

Jim Crocker, CEO of Boardroom Metrics has posted a YouTube video on tips for running an effective planning process.

Having watched many clients waste time and resources on planning that goes nowhere, Crocker’s tips are (once again) simple:

1. start early – planning for 2009 in February is a little late!
2. make planning a priority – there will always be more important things to focus on for the company that isn’t really committed to planning
3. planning is lead by senior management – the CEO in particular should have a clear perspective on what needs to be accomplished in the upcoming year and the key strategies for getting there – engaging the rest of the organization in the process is important but simply tossing planning to others in the organization never works
4. planning and budgeting are inextricably linked – which sounds obvious but gets overlooked – budgets should reflect the allocation of resources necessary to execute the planning priorities – if they don’t, then the plan priorities are just imaginary ideas for making something happen
5. follow-up to make sure the plan is working – too many organizations spend resources on planning then NEVER revisit the plan to measure accomplishments or check direction – which makes planning pretty much a complete waste of time

For people and organizations used to organized, well run planning processes, Crocker’s tips must seem overly simplistic. Unfortunately, they reflect reality – based on Crocker’s experience more companies fail at effective planning than succeed – usually because the simple approach required to execute properly is overlooked.

The video is posted here.

The Boardroom Metrics blog is here.

A key question when engaging a consultant is their fee and how the project will be priced. In another of his YouTube videos to help manager’s use consultants effectively, Jim Crocker of Boardroom Metrics has posted a video on consulting pricing options.  He lists three options to consider for pricing a consulting project:

1. hourly basis
2. project basis
3. performance basis

The third, involves giving the consultants a share of the upside created by their work. This is a very effective incentive.

The video is posted here.

Jim Crocker, CEO of Boardroom Metrics has posted a series of helpful videos on YouTube about working with consultants. His latest is ‘What to Look for in a Consultant’.  Crocker lists five attributes:

1. expertise
2. experience
3. time to do the project
4. affordability
5. working with relationship

The video can be found here. All of Crocker’s videos can be found by searching Crockbiz.

Jim Crocker, CEO of Boardroom Metrics has posted another helpful video on YouTube about working with consultants.

Titled ‘How to Engage a Consultant’, Crocker provides some simple tips for finding and setting up a relationship with a consultant.  They include:

1. talking to multiple consultants to ensure that you have the right one before engaging
2. clarifying with the consultant what the outputs of the engagement will be – ensuring that you are not disappointed down the road
3. clarifying the terms of the engagement including outputs, fee and timing
4. putting the terms in writing and getting the consultant to sign it

Again Crocker has kept it simple but there are a couple of things that could be added.

First,  the terms should include the conditions for terminating the engagement with the consultant – usually some kind of ‘break up’ fee, or notice period.

Second, although Crocker says “you don’t need a lawyer” when putting the terms in writing, he’s not precluding the idea that you may want to engage a lawyer, particularly for significant engagements.

Finally, he fails to mention that the consultant should always sign a confidentiality agreement before beginning the engagement.

Jim Crocker, CEO of Boardroom Metrics posted this helpful video on YouTube ‘When to Hire a Consultant’.  Crocker, who has been a consultant for 25 years, keeps it simple. From his perspective, there are 4 key times for hiring a consultant:

1. when you need an answer
2. when you have the answer but need help selling it
3. when you have the answer, but it’s bad news and it’s better for someone else to deliver it
4. when you need help implementing change

Crocker points out that based on his experience, hiring a consultant to help with necessary change has a much greater chance of succeeding than hiring a consultant for ‘nice to do’ change.