Managing up, down and sideways
In the beginning, it was simpler. Find a way to satisfy your manager's expectations, and success as an individual contributor would likely follow. Even if the boss is absent, inconsistent or unkind, it's still just a single relationship.
When you become the boss yourself, you're in the middle of a much more complicated stakeholder ecosystem. You're still accountable to someone, whether it's a more senior leader or a board. You have your direct reports, and possibly their direct reports. Your peers have their own areas of the business to look after, so you must manage the relationship between your staff and theirs. In public-facing roles, customers or constituents complete the picture.
So...
What is the best way of gathering and processing stakeholder feedback? Do you wait for it to come in, or do you go get it?
How do you balance what people say they want from you against what you know the organization needs?
Who is worthy of your attention, and when? Whom do you ignore, and for how long?
Do this poorly, and you'll feel like everyone is taking a piece of you until there's nothing left. Do it well, and you'll have armies of stakeholders helping you move your agenda forward.
A few of my favorite resources on managing stakeholder expectations: