Advice for CEOs

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.

Taking an organization into the future should not rest solely on the shoulders of a CEO. It requires the entire organization. To help make that happen, the CEO can shape the mindset of their team. Newport partners have helped organizations to navigate their way into the future. Here are their suggestions.

To be the CEO of an emerging business—a company that our firm helps get past No Man’s Land so it can grow to scale and create wealth for you—is to grapple every day with many issues that clamor for your attention. Finding and selling to new customers; keeping existing customers in the fold; dealing with investors and vendors; overseeing finances.

When we ask ourselves who within an organization has authority in a certain area of the company’s operations, we tend to automatically want to check the organization chart. That’s not a bad thing. Organizations all rely to some extent on the concepts of hierarchy, authority, accountability and decision rights. Organization charts help to communicate responsibilities and accountabilities for business activities and functions.