Advice for CEOs

Sure. . . You want profitable growth. Who doesn’t? But have you heeded the admonition to “get the right people in the right seats on the bus?” What is this bus everyone is talking about? What if your company can’t even afford a bus?

Changing a company's culture is a lot like losing 50 pounds. There are lots of books to read, seminars to attend, and processes to follow. Yet, the vast majority of efforts fail.

Every entrepreneur looking for investors would like to find backers who have ample cash to invest and who also bring industry knowledge, savvy and contacts. But most entrepreneurs would prefer that their investors be relatively hands off, not inclined to interfere unduly in their business management process. How realistic is it to find such investors?

Many entrepreneurs of emerging growth companies trying to get their companies out of No Man’s Land fail to consider an important option for business growth: develop or refine a channel strategy. Especially in the services sector, many companies don’t look systematically at creating complementary relationships that could lead to an expansion of their customer base and an increase in revenues.

The previous article described how Scott, the co-owner of a small, successful compressor business, was pondering his options. His brother John decided to step away from the company to protect his health. Scott created a list of reasons why he was willing, even eager, to pursue a business growth strategy that would get the company out of No Man’s Land and give it a shot at taking off to become a much larger firm.

Scott sat alone at his desk, thinking about the events of the past week. For the past seven years, he and his brother John had shared an office managing the compressor business their father had founded. John had done a great job in running the operating side of the business, while Scott had focused on sales and service. But one issue had really started to claim their attention: how much business growth they should seek.