3 Tips For Business Success Against All Odds

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What it takes to create your own business and become a talented CEO in tough economic times.

2. Manage Your Personal & Professional Bandwidth

CEOs often make the critical mistake of believing that they have to do it all. They don't. CEOs have to manage it all, but certainly they don't have to do it all.

 

I heard a commercial on the radio last week and the man speaking identified himself as the CEO of his company, the "Chief Everything Officer." If they needed staples, he was on it. If they needed to close a client deal, he was on it. The critical flaw in this thinking is that at a certain level, a CEO doesn't have the personal bandwidth or the stamina to do it all and do it well.

Eventually, things slip. Customers don't get the same level of service the brand was built on and often, the pipeline that makes up your client pool doesn't get the attention it needs. As the CEO, if your attention is exclusively on closing a big deal and it's not equally on lead generation, you may have a bird in the hand, but you've lost sight of the one in the bush that will feed you tomorrow.

3. Don't Lose Sight Of The High-Hanging Fruit

The fact is that CEOs who feel like they have to be everything to everyone eventually lose steam. The first things to go are the tedious, monotonous tasks that are long-arms to sales. For example, the client who says "not today but maybe next week" falls off your radar in favor of the client who can pay for services today. In the short run, it isn't a bad thing. We call thisphenomenon paying attention to the low-hanging fruit. But, you also must keep an eye on who is climbing the tree for the fruit that's higher off the ground, i.e. your competition. Divorce: 5 Steps For Surviving The Big D

This pipeline of prospective clients is what allows you to have enough interest in your business so that you can constantly be in a position to sell your goods. And make no mistake about it, not all of your customers will start out as paying customers. Everyone comes to the moment when they are ready to buy. Especially in this Internet age, we read, research, investigate and then eventually buy.

For some people this means that all they will do is read or watch your free offerings. Others will get in your pipeline and begin systematically purchasing all of the different products you offer. The point of "deciding to invest" is different for everyone. As a smart CEO, you need to focus on those who will want/need your products today and those who are simply doing due diligence for another day. A successful CEO has a clear plan and a set of daily tasks that allow their pipeline to remain full and ever-flowing with prospective business leads.

The other thing successful CEO's do is cultivate a team of people who help grow their business. In keeping with the mindset that CEOs are not responsible for doing everything but responsible for managing everything, successful business owners know that there are certain tasks that only they can do for their business. You can't ask your assistant or intern to close a big deal for you, but certainly they can take the first pass at an email to your newsletter list or help you with your Twitter or Facebook calendar.

Article contributed by
Advanced Member

Melanie Gorman

Business Coach

Melanie Gorman, M.A.

SR. VP YourTango Experts

http://www.yourtango.com

www.twitter.com/melanie360

Melanie@yourtango.com

Phone: 410-923-6905

Location: Crownsville, MD
Credentials: MA
Specialties: Career, Communication Problems, Empowering Women
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