A) CEOs Under Pressure to Perform
Building a sustainable and profitable business, year after year, has been compared to a successful sporting team winning the premiership every year; it’s not easy to do and any poor decision can be a disaster, both for the organisation and for the leader.
Regardless of whether a business is public or privately held, family run, large or small, business owners often need a truly independent CEO mentor/adviser who can help them through the appropriate decisions they need to make in all areas of the business, and to exceed their personal and professional goals.
We have seen business owners rely on their own circle of influence for professional guidance; using employees, investors, business associates, family and friends to help them strategically decide and tactically implement business objectives. However, this highly dependent ‘circle of influence’ approach frequently leads to decisions that impede business improvement and growth. Some leaders don’t even ask anyone for help; they believe that since they are in charge, they should know all of the answers.
These leaders see external assistance as a financially and timely cost that offers little tangible returns. However, for the best business improvement results, business leaders need an outsider’s perspective to help them make tough decisions and integrate the key areas of business improvement (strategy, staff, systems, structure, sales, marketing, operations, finance, and self) to dramatically improve business performance and growth.
This outside CEO mentoring assistance can be through an executive coach or CEO mentor and should be considered an investment that, done properly, can provide a high return to the leader, their organisation, and their team.
B) Why Use an Experienced Mentor?
Having worked with a range of CEOs and companies over many years, we have identified the five main reasons why they have come to us for CEO mentoring assistance in reaching and exceeding their business and personal goals. These reasons are that:
- A business coach/mentor brings industry best practices from a broad range of experience,
- A business coach helps the CEO remained focused on the big picture and keeps business leaders accountable to the action steps required to meet corporate goals without being distracted by day to day operations and issues,
- A business coach helps the leader find the gaps in their business model even when the company is growing – many times over I have seen money and success hide mistakes,
- A business coach takes away the emotion that business leaders sometimes attach to the business, assisting in sound and practical decision making, and
- Further to this, a business coach is not financially attached to business decisions, giving CEOs a holistic perspective to decision making.
Successful business leaders invest in external support and perspective to gain the insight and accountability they need to achieve optimal performance for themselves and their organisation.
C) Our Approach to CEO Mentoring
Our mentoring services offered will assist the CEO to take substantial business risk out of the process for developing your business through the expansion phase beyond start up that can on most occasions stretch the resources and management skills of the typical SME business owner. Whilst the ability to attract talented full-time staff is difficult for many of these organisations, our team has the experience to assist you to successfully achieve growth and sustainable profitability. The types of services we offer for the expansion phase include:
- Review and extend your business strategy,
- Development of reliable information systems,
- Increasing sales and gross margin performance,
- Improving productivity from your operations,
- Monitoring customer service performance,
- Reporting and measuring agreed Key Performance Indicators, and
- Compliance with ISO/OH&S accreditation programs.