Based on your responses, your CEO Profit Profile™ is INFLUENCER!
As a CEO Influencer, you have done the hard work to secure a strong place in the market and a loyal customer base.
Congratulations! Now, your interests turn towards exploring acquisitions, enhancing passive streams of revenue, and implementing strong investment strategies.
Challenge #1: Risk of Expansion
This is a pivotal stage in a company’s life – it can grow into a big business or it can fall prey to owner impatience. Having a successful business model is not a guarantee the same model will work in a different location or with a different target market. Before rushing to broaden your horizons, look at your resources and be realistic about the effort, cost, and potential returns of expanding. If necessary, costs need to be cut and budgets tightened to sustain cash flow.
Challenge #2: Performance Improvement
This stage is marked by rapid year-over-year growth and a solid core of employees who are trained and loyal. Both operational and strategic planning are being done and your systems are more refined and extensive. You and the business have become reasonably separate, but the company is still dominated by your presence and possibly investor control. To further expand the company, you must prepare your key managers to competently handle the challenges of a growing and complex business environment – without relying on you.
Challenge #3: Funding Expansion
This stage is marked by predictable revenue, the acquisition of other business entities, and multiple product/service spinouts. In the face of growth and increasing distribution channels, put your energy into gaining a bigger market share as well as looking for new profitable revenue opportunities. Research “how to grow rapidly” and then create a streamlined plan to finance that growth. Your company is prime for investors to buy because its consistent performance can reliably generate revenue in the future.
FOOD FOR THOUGHT
At this stage, decline is often not the direct result of business strategy. In many cases, new technology, changing consumer preferences or market conditions can steer a company toward irrelevancy.
- How can we make the business grow rapidly?
- How can we finance that business growth?
- Can we delegate certain roles and responsibilities to managers or employees?
- Can we maintain the management effectiveness during the cycle of rapid growth?
- Do we have adequate cash to support the increasing demands of expansion?
At this stage, the CEO Influencer must consistently search for opportunities to expand distribution channels and create streamlined plans to acquire a greater market share. HOW you choose to expand will determine whether your company remains a thriving enterprise or a failed venture.
YOUR NEXT STEPS
To optimize operations, expand product/service offerings, and enter new geographies.
#1 Rapid expansion.
#2 Meet customer demands and win in a competitive marketplace.
If you are ready for specific CEO Influencer strategies, request a confidential consultation with one of our Founders TODAY!