Mark Angelo, CEO, Yorkville Advisors

After years of hard work and dedication, you've finally been promoted to a managerial position. This can be an incredibly exciting experience. It takes a lot of effort and intelligence to move up the corporate ladder, and your achievement is certainly something that you should celebrate. 

Of course, making the transition into a position of leadership isn't always simple. Taking on a new role can also mean mastering a new set of important skills. Regardless of what industry you might work in, the following tips will help you to get ready for a huge career change, so you can make the most of your promotion.

1.     Prepare Before your Promotion

Although it can feel like you're "jinxing" yourself if you start to prepare for a promotion before you get it, it's better to be safe than sorry. If you know that you're going to be applying for a manager position soon, then make sure that you check out any training courses or sessions that might make you more effective in your new role. Some people find that it's helpful to reach out to a mentor for advice on how they can make a difference in their new role.

2.     Recognize That You'll Need Time to Adjust

Even though you might still be working for the same company, becoming a manager means that you're taking on an entirely different job. That means that you need to prepare yourself for a significant change. Give yourself a break as you adjust to the new role, and make sure that you know who you can ask for advice if you're not sure how to deal with a specific situation.

3.     Know Your Employees

Becoming a great manager doesn't necessarily mean that you automatically become a good leader too. However, if you get to know your employees, then you can improve your chances of being both. Spend some time with every professional on your team, and get to know their career goals, expectations, weaknesses, and strengths. The more you learn about the people you're working with, the easier it will be for you to delegate and collaborate in the future.

4.     Remember that You're a Boss, not a Friend

One of the most common mistakes new managers make is that they attempt to be friends with all of their employees. While it's tempting to try and please everyone, at the end of the day you have to remember that you're a boss now. While you can be understanding and supportive to the people in your team, you also have to be prepared to tell them what to do and even offer constructive criticism as times. This could mean that you're not always everyone's favorite person.

5.     Be Prepared to Deal with Growing Pains

Finally, keep in mind that many new managers will discover a few performance and personal issues that their precious boss was discretely dealing with in private. Your peers might not be thrilled with your new position - particularly if they're jealous of your success. You need to be ready to deal with conflict as quickly and successfully as possible, and make sure that your employees know what's expected from them from day one.