Top 5 surprises as a CEO leading their first successful business transformation

Most of us came up through our business leadership development path with the guard rails of established industry norms and practices, and approved business strategies and plans.

More of us now have held leadership roles in times of business transformation.

Research indicates 85% of senior leaders have experienced two or more major transformations in the last five years alone.

The same research also indicates that, for many leaders, the experience has been of underperforming business transformations.

Two-thirds (67%) said they have experienced at least one underperforming transformation during this time.

At the end of an underperforming transformation, the negative emotional impact is massive.

Three-quarters of the workforce reported negative emotions, including 31% who experienced sadness, upset or depression.

Overall, negative emotions in the workforce increased by more than 130% in an underperforming transformation.

Entering a new strategic phase with this well of negative emotions from the previous underperforming transformation provides a crippling starting point.

(EY 2021 Global Board Risk Survey)

This is not always a constructive experience for leaders who see their role as requiring transformative leadership through the coming decade. What some are now referring to as the ‘new normal.’

In my Executive Mentoring in Leading Disruption with Grace and my global networks of Business Transformation Executives over my career and, more recently, my role as Chair of the Australian Transformation & Turnaround Association, I am fortunate to know many leaders that have led successful business transformations.

I find it massively useful surfacing those revelations that were not what they expected – particularly given their extensive leadership experience. These “aha” moments, or surprises that busted their mental models from leading through more Business as Usual phases, or “underperforming” business transformation experiences.

Following are the top 5 surprises that I have observed leaders express as they led their first successful business transformation:

Top 5 surprises as a CEO leading their first successful business transformation

1. This much work WITH my team!

The work to get the right leaders, in the right roles, working at their individual best, and working at their collective best aligned with the business transformation takes energy of spirit, heart, head, and hands. It is not a one-off event. It can take iterations as assumptions are surfaced. There is rarely the experience of ‘set and forget’ as the organisation transforms and settings continue to need to be reconsidered.

2. My growth has been enormous!

I didn’t realise just how much I would be growing. I am yet to meet a CEO of a successful business transformation that has not experienced an explosive period of learning about themselves and the world. It can be uncomfortable as the learning is through being and doing in real time.

3. Argh, delayed gratification!

Most CEO’s have a good grasp on delayed gratification as investors and in building their careers. Despite that, sitting in the leadership role of a business transformation, there are so many trigger points testing patience.

4. Once you get going it won’t be a lack of options that gets you.

There will be too many options. Once you lift your head up and the organisation builds momentum, all sorts of potential paths appear - big clients, partnerships, new markets, acquisitions etc

Saying no is a bigger deal than you anticipated.

While organisations that are about to be disrupted have leaders that are running out of options, and average organisations dream of more options, successfully leading through a business transformation takes needing to “de-cide” to a new level. (Note the word “decide” has the same partial etymology (-cide) as homicide, suicide, herbicide, genocide. Decide means to determine by killing off choices.)

Intellectually knowing about prioritising and the power of focus does not reduce the surprise felt by CEO’s as some of the decisions present themselves.

5. You sleep better leading business transformation than fighting industry disruption and not letting go of what no longer serves you.

“I get that,” you say as you read it. Yet, experiencing it always seems to be a surprise.

What has been your experience??

Are you Leading Disruption with Grace?

Bernie

This article is part of the Chief of Transformation topic.

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Bernie is known for building capability and confidence in leaders who need to transform organisations that are continually reshaping to survive and thrive.

His career in whole of enterprise and cross-organisation shifts, and then 10 years Business Transformation Diagnostics, Training, and Mentoring across Australia and SE Asia.?Currently working with leaders who are focused on accelerated development and re-imagination of industry value systems. He loves contributing to leaders, teams and networks successfully transitioning to the next phase.?

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In 2020 Bernie authored Traction: Building Change-fit Leadership Teams.

Bernie welcomes connecting with and talking to leaders tackling the challenges of team and network transitions.

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