Too many first-time CEOs are obsessed by their own, somewhat paranoid, perception that stops them from being able to do the job well: lack of experience, knowledge, credibility, etc. Research for NerdWallet in 2022 showed that 78% of business leaders experience workplace imposter syndrome, causing 59% to consider leaving their role.This obsession is baggage and a distraction.
Leaders know, or they should know, that their attention really needs to be on how to run the company successfully and what they need to do to be able to accomplish that. But knowing you may lose control over areas of expertise that you used to run, only to take on additional areas with which you are unfamiliar, causes feelings of imposter syndrome and anxiety. You are only human. The demands on your time are remorseless and come from both inside and outside the company. Nobody, not even you, can perform brilliantly, or even well, at everything.
While it is clear that the majority of first-time CEOs suffer from some degree of imposter syndrome, not all of them are as effective as they could be at managing and overcoming it. First-time CEOs need to recognize their doubts as commonplace, build their confidence, and act on the transition areas that they can control themselves, so they do not hinder progress in their new role.
There are many taxonomies of imposter syndrome that sort people into boxes. The acknowledged authority on the subject is Dr. Valerie Young and it’s likely that she originated the different types. These categories have their uses, but some people may find they belong in more than one category.
Drawing on the five identified types, here are strategies to help first-time CEOs manage their imposter syndrome and step out as a confident CEO.
The Natural Genius
We all know the type—a natural at everything they attempt to do and one who succeeds from the off without the practice and effort that the rest of us need to put in to be half as good. As a result, they believe they should get things right the first time, whether that is completing tasks or picking up new skills. When this doesn’t happen, this leads to confusion and questioning whether they are as good as they thought, or quite possibly, as others thought.
When you are not a natural genius yourself, it’s difficult to observe any weakness and doubt in those that are. Natural geniuses are people others wish they were or whose skills are desirable, so how could they possibly have doubts or need help themselves? People suffering from the natural genius imposter syndrome mindset may also be perpetually disappointed by the people they work with and report to—which isn’t exactly the bedrock of a successful relationship with them.
If you relate to this type of imposter syndrome, take time to understand that training, learning, and practicing lead to growth and improvement. Despite a natural inclination to recoil from such a suggestion, working with a coach/mentor helps you to reframe your perception of both “failure” and the necessity of continuous growth. Taking time to learn and develop in other areas does not detract from those you are already proficient in.
Many of us will attest to the fact that we learn most from both our and others’ mistakes, so making them is a crucial part of the development process.
The Perfectionist
This group has no time for second best or good enough. It has to be perfect every time. That is just not going to happen, so they are setting themselves up for a fall. When they do well, they focus on the small mistakes that detract from the perfect rather than the vast majority that went well. They may deliver a great speech that carries the room, but they know they stumbled at the beginning of one line and left out what they believed to be a key point in the middle. No one else noticed and their oratory skills and arguments achieved the aim, but in their own mind it could have been better.
Because of this, the perfectionist may delay not attempting something new if they feel they won’t get it perfectly right off the bat. They might also delay making decisions, pushing the button on an activity, or releasing a product as it’s not perfect, so not ready.
This is a mistake, especially for a first-time CEO looking to deeply understand the organization, as we know that testing in the market is the best way to improve and secure long-term success. Take time to understand that a minimum viable product—”good enough quality,” if you like—is quicker, cheaper, and better than perfect.
The Superhero
These individuals do not just succeed at work, but across all their roles in life and with all they encounter, be that work, family, friends, or acquaintances.
Unlike the natural genius, they believe this is all as a result of the effort that they put in. They have to work harder in order to overcome their lack of innate ability. Any failure means that they didn’t try hard enough and raises their concern that it should be easier if they really were good enough.
They may have qualifications coming out of their ears, Masters degrees, Doctorates, MBAs, and industry accolades, but they still feel like they don’t know enough. This person works hard in order not to let the team down and to progress on behalf of themselves and their family.
Managing this type of imposter syndrome means understanding there is a level beyond which any more effort or hours will make little or no difference. There will also always be things outside of your control, especially as a first-time CEO understanding new organizational dynamics.
Trying to be the superhero taking on all tasks is unsustainable. Learning to say no is a crucial skill for anyone; ask those who have left corporate work and set up their own business as a freelancer or consultant.
The Soloist
The Soloist has a preference for working on their own. This plays heavily with first-time CEOs who believe that as the new top dog, they should have the ability to answer all the questions and solve all the problems. They are worried that seeking help and advice from others can be perceived as a weakness and may compensate by putting in even more hours and effort in an attempt to overcome their limitations.
However, the vibe you work best alone rubs off on others. If you feel you can’t go to others for help, they can often back off from giving support that you so badly need. Building relationships across the organization is crucial because you never know whose help you will need and when. It could also prevent them coming to you when they need support or guidance.
An independent coach/mentor can really make a dramatic difference here as they provide an objective sounding board free from organizational politics where you can share your practical and emotional challenges.
The Expert
The Expert is really into the detail and needs to know all there is to know about something to succeed at it. This can lead to procrastination as there is always more to learn. Similarly, they may also not apply for new positions or jobs if they don’t tick every single box for skills and experience needed when such a candidate just doesn’t exist.
Managing this type of imposter syndrome involves getting into the habit of focused, just-in-time learning only applied when needed; only deep-diving as and when it is strictly necessary. This is a key skill for first-time CEOs who now have additional cross-departmental responsibilities where they cannot always be an expert in everything.
Experts benefit from the realization of just how much they do know. Mentoring more junior colleagues, lecturing at vocational courses, and becoming a NED or trustee can all be areas that both help others and boost their own confidence.
Managing Imposter Syndrome
The common factor across all the imposter syndrome types is that others may not notice that you are anything other than confident and be totally unaware that you require help. Imposter syndrome is a very personal thing.
Even if most of us suffer from it to some degree, we don’t recognize that the majority of others do, too. It is therefore crucial to look out for it when people are promoted or take up senior positions for the first time to avoid it negatively impacting their abilities in their new role.
Similarly, offering those newly promoted individuals access to an independent coach/mentor can help them to manage these emotions in an objective space, so they feel empowered to assume their new position confidently.