This is the 2nd of several posts of the coming week based on my book review of The First 90 Days: Critical Success Strategies for New Leader at All Levels by Michael Watkins (Harvard Press).
Executives coming into a company fail at the rate of 40-50% at a cost of $2.7 million to the company.
1. Promote yourself: Don't get stuck trying to do your old job. Let go and move on and don't assume what got you here will get you there (what Marshall Goldsmith's latest best seller is all about).
2. Accelerate your learning: Get systematic and focused about learning first things first (akin to what Stephen Covey also suggests)
3. Match strategy to the situation: Diagnose whether the new challenge for the transitioning executive involves a Start up, Turnaround, a Reorganization, or Sustaining Success (STRS). This is a critical distinction made by the author.