Why CEO’s Profitable Momentum Gets Stuck
One of the most common reasons why CEO’s and their profitable momentum gets stuck, is that their focus is not on Profitability and Growth. Their focus often drifts over into issues that have nothing to do with long-term growth
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Business Owners and CEO's Take Actionable Steps
CEO’s must focus on, and Sustain Focus on Three Critical Factors:
1) Sales People (50 percent of your time)
As you navigate the steep profit trajectory of your expanding company, the key to maintaining sustainable growth will be your ability to attract, hire, and retain the most profitable people. Understand, that the Number One Factor in differentiating your products and services, are your sales people. Stop hiring people who are commodities. Sales People who are common. Sales People who do not stand out. Sales People who cannot even differentiate themselves, nonetheless your products or services.
Hire, train, coach, support and most of all solicit the feedback of people who differentiate themselves and have attitude. These are the people who are on the front lines for your firm. They are the people subjected on a day to day basis to objections and information regarding your competition. Afterall you have placed your financial future in the hands of these people, why not keep them engaged and act on their opinions.
2) Sales and Growth Strategy (35 percent of your time)
Do you have in place a MAP? A Measurable Assistance Plan? If you Expect a Result, then Inspect the Process! The question however is, inspect what? You must have in place a trackable and adjustable Measurable Assistance Plan.
With a duplicate-able Sales System, your company achieves real control opposed to managing sales chaos on a day to day basis. The Side Effect of control is Sustainable Growth. Put in place a System that focuses on changing and maintaining sales mindsets, sales habits and sales routines in order to change your results.
We know that one major factor Lacking in Teams is a Consistent Approach to Pitching, Presenting, Dealing with Objections and overall Sales Communication. We believe in Process Development which Provides you with Real Control. This is opposed to "Cliches" that anyone can obtain in any Self-Help book or seminar.
Pro Sports Teams make use of a consistent offense, a consistent defense and a set of plays. Without a Sales Process you have placed your future into the hands of your people; good people who utilize a "wing it" approach.
CEOs of high-growth companies spend roughly a third of their time thinking about business strategy, making adjustments, taking calculated risks, and communicating these decisions throughout the organization.
3) Cash (15 percent of your time)
A profitable Business Model in its most basic definition is the process by which a company converts a client’s problem, pain or fear into your profit. Your clients, and or potential clients have a need, generally based on a problem, pain or fear.
Remember this key factor. Your client does not buy into your products, services or sales people. They buy out of the problem, pain or fear, making it critical that your sales people have the right attitude and skill to extract these emotions and the current and future ramifications of not addressing the matter.
Once you have taken ownership of this fact, you will then be able to sell on real value, reducing price reductions, de-commoditize your business and eliminate sales lost to more effective competitors.
Two Key Cash Factors that can immediately improve your Bottom line
1) Focus on how much business you currently lose now to competition, and why.
2) Focus on how every dollar you lose to price reductions comes directly out of your profit margin, and how to resolve this.