Execution…..critical to a CEO’s successPosted by Chet on Jan 15, 2013 in Alignment, Featured, Role of Marketing, Sales Process, Value Propositions | 0 comments
Execution drives value….as a CEO, this is a very familiar message that you hear over and over again from your Investors & Board members. Don’t fight it; it’s absolutely true. The challenge is to insure that both your product/solution, as well as your team are aligned on the right things to insure growth & ultimate value creation.
As CEO, let’s take a closer look at some of the more critical areas where execution performance and the ultimate game is won or lost for you, investors & shareholders.
- A business model & strategy that your team understands & embraces…..this takes time and constant adjustment by the executive team. Continue to challenge this along your journey, but always develop team-based, key performance metrics for alignment within your executive team and adjust appropriately, as your business model evolves.
- The ‘right’ markets & a compelling value proposition….raving fans & a proven ROI model for each market segment that you’re focusing on are essential. Pricing is too complex to address in this blog, but an essential component to your ROI & overall business model. Also don’t ignore the competitive landscape, as well as your client’s real needs & priorities for your solution. Remember not all market segments value your solution the same; as they say – follow the money (segments/clients that do)!
- The ‘right’ productization that reduces the new client acquisition ‘time to closure’….solve an immediate pain point but ensure that your solution, if possible, can address strategic & longer term challenges for more enterprise deployment. Product Management/Marketing needs to support industry specific wrappers (last mile) that demonstrate that you understand their industry challenges and are not a risk to them.
- A consistent/repeatable, scalable & measureable GTM (Go-to-Market)/Sales process…..don’t kid yourself here; get your executive team active in this critical process & hire a no-excuse GTM Pro (Sales & Marketing) to lead the charge. Over time, your GTM strategy should address direct, indirect & strategic channels for growth.
- Support, expand & service your key clients & industries…..constantly rank your clients/industries in terms of their specific value to you; not all are the same. Get rid of clients at the right time in your business growth cycle that take too much support or simply don’t fit. At any cost, understand & keep your strategic clients; losing them sends a bad signal to the market and your company.
Finally, as CEO, you cannot be too patient; push the envelope and continue to challenge your solution & company’s value to the market. Lead strategic initiatives with larger branded players for potential growth opportunities. Get your backside in the market & listen to your key clients. Expect your team to meet their objectives or else. Be passionate & have FUN – you will be rewarded in the end!