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CEO Advisor® Newsletter
April 2012
What Do Successful Businesses Have That Troubled Ones Don't?
The answer is in four key management techniques.

Many entrepreneurs are industry or technical experts in what they do, but start a business without a formal plan, training or experience in management techniques and principles. 

As a result of inadequate management, many small businesses fail in the early years, or fail to grow, and profits suffer terribly over time. They fail not because of a weakness in the products or services, but because all aspects of the business were not properly managed. 

Once a business has emerged or grown to a certain level, management techniques must change or the business will run into trouble. For many small businesses this level is $1-3 million in annual sales or 5-15 employees. Sometimes the critical point is smaller and sometimes it is larger, however, when it occurs, the owner or CEO of a small business must evolve, morph or otherwise change from a manager of things to a manager of people and from a technical expert to a strategic thinker and execute.

This is often a difficult task because of ingrained habits developed over time, but failure to grow as a small business CEO is the major reason why a business will falter, stagnate or even fail.

But what do successful businesses have that troubled businesses don't?

1. Owners of successful businesses have developed personal characteristics that drive their businesses forward.
  • Invariably they have a positive attitude towards their business and life in general. Twenty years from now you will be more disappointed by the things you didn't do than by the ones you did do.  
  • They are committed to their effort. A real work ethic coupled with planning and strategy.
  • They are diligent. Entrepreneurs are simply those who understand that there is little difference between obstacle and opportunity and are able to turn both to their advantage.
  • They are persistent. "Many of life's failures are people who did not realize how close they were to success when they gave up," according to Thomas Edison. 

2. Owners and CEOs of successful businesses have developed a business blueprint called a Strategic Business Plan that clearly describes their business model, mission, strategic goals and tasks of their business. In this plan, they set corporate and personal goals and set out specific time lines and strategies to achieve them. 

3. Owners and CEOs of successful businesses have developed an Organizational Structure that functions as a well-oiled machine. This structure, including all of its policies and procedures, encourages all team members to perform to their utmost capabilities. It rewards those who excel in proportion to their contributions. It also holds accountable those who deviate from acceptable behavior. Positions, tasks, duties and responsibilities are defined and communicated and performance is routinely measured. Training, job enrichment programs and incentive compensation plans are designed to encourage each employee to excel. Successful owners view their associates as their most valuable asset and resource.

4. Owners and CEOs of successful businesses have developed Operational Support Systems.These may be financial or non-financial, manual or automated. The objective of these systems is to support and make efficient all the activities of the company. They also relieve management of many day to day routine activities, giving owners and CEOs more time to be strategic thinkers and grow the business. The information provided by these tracking systems provide critical information on sales, cash flow and other financial performance data so that senior management can take timely action as change occurs. Red flags appear early, before problems become unmanageable. 

In summary, the four keys to successful small business management are: 1) Owners have developed habits and traits that are Positive, Committed, Diligent and Persistent, 2) A usable, living Strategic Business Plan is in place, 3) An Organizational Structure has been developed that encourages people to be their best and helps them do so, and 4) Operational Support Systems are used that track performance and relieve senior management of daily detail yet supply them with critical information to manage and grow the business. 

CEO Advisor, Inc. can help your company achieve these four key management techniques and become a high performing company. We work with CEOs and small business owners to generate profitable growth. Contact us today for a free consultation by calling (949) 759-8676 or emailing us at Info@CEOAdvisor.com

CEO Advisor, Inc. Advises oGoing.com on Funding, Strategy and Growth

CEO Advisor, Inc. (www.CEOAdvisor.com), a leading business advisory firm serving the needs of CEOs, presidents and business owners of small and mid-size companies has provided fund raising, strategy, growth and marketing advisory services to oGoing, Inc. (www.oGoing.com), the social network exclusively for small businesses.  

CEO Advisor, Inc. provides affordable, hands-on advisory services on strategy, growth, funding, sales strategy, sales team building, marketing, operations, finance, mergers and acquisitions to grow businesses to the next level.  As a trusted CEO Advisor® to business owners since 2004, the firm specializes in driving growth and profits exclusively for business owners in a one-to-one advisory role on a weekly basis. 

oGoing.com (www.oGoing.com) is an online community that connects and promotes the products, services and brands of small businesses to generate referrals, get recommendations and attract customers, while providing social media tools and capabilities specifically for small businesses not available elsewhere.  oGoing.com is poised to serve the growing online social networking needs of the 27.7 million small business market in the U.S. and tens of millions more worldwide.  CEO Advisor, Inc. worked directly with Sanjay Dalal, CEO/President, on the marketing strategy, business model, pricing, sales strategy, funding and growth plan.  

Sanjay Dalal, President of oGoing.com states, "Growth and revenue generation is our primary focus for 2012.  This will require funding, marketing, promotion and key strategic relationships to take the company to the next level. CEO Advisor provides the focus and plan to move our business forward very quickly.  With the added expertise and hands-on approach of Mark Hartsell, we are positioning oGoing.com for a major growth initiative."

Mark Hartsell, CEO of CEO Advisor, Inc. states, "oGoing.com is in a very exciting and unique position to service the extremely large community of small businesses in the U.S and worldwide.  We have formulated a plan to fund, grow and fully realize the opportunity for oGoing.com as the social network for small businesses."  

About oGoing, Inc.
oGoing.com is an exclusive social network for small businesses.  Using oGoing.com, businesses instantly promote their products and services, share their latest deals, post their news and events, and make new connections. oGoing helps businesses find new customers using the latest social media platform. oGoing is the small business social network to expand your brand and engage with your customers using social media. Visit www.oGoing.com  to promote your small business. 

About CEO Advisor, Inc.
CEO Advisor, Inc. provides business advisory services affordably and effectively to meet the specific needs of CEOs, presidents and business owners of small to mid-size companies in a wide range of industries, including technology, services and light manufacturing.  CEO Advisor, Inc.'s mission is to advise business owners with the needed expertise and focus, coupled with hands-on advice and work performed to grow your business to the next level.  By specializing in the needs of CEOs, presidents and business owners, we focus on growth, opportunities and challenges that you and your business encounter every day. 

Contact CEO Advisor, Inc. today at (949) 759-8676, by email at info@CEOAdvisor.com or visit us at www.CEOAdvisor.com for more information.

Testimonial  


"As a President of a mid-size technology company, I have been very pleased with the services provided by CEO Advisor®. He contributed in many areas, but identified marketing and sales as our primary need. His guidance and contributions have been invaluable in establishing and maintaining a meaningful marketing and sales program for the company. He is a knowledgeable business advisor and a pleasure to work with."
CEO/President, Engineering Services/Manufacturing Company

"Over a one year period, CEO Advisor helped me to understand what my role entailed as a CEO of a small company. Together, we segmented my numerous headaches into achievable goals. I learned to focus on specific issues and predict obstacles by looking at my business in monthly, quarterly and yearly tasks by priority. My CEO Advisor® prepared our Business Plan and Financial Forecast as the road map for the growth of our business, and taught me how to understand financial reports, as well as, the implication of budgets and spending. I now understand how to measure the performance of my company and profitably grow my business."

CEO,  Web Services Company


"Mark Hartsell and CEO Advisor, Inc. provide a unique advisory service for CEOs. He not only tackles high level strategic issues to assist CEOs navigate through challenging times, but Mark also gets very involved in actually addressing important issues head-on by performing the work to achieve tangible results.


Whether it is growing a business to the next level, turning a distressed company around or preparing a company for an exit, Mark's firm, CEO Advisor, Inc, provides a broad range of services and Mark is there for the CEO every step of the way."

 


Partner

Haynes & Boone, LLP

Words of Wisdom


"Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent."

Calvin Coolidge

30th President of the  

United States 

 

"Yesterday does not equal tomorrow. Forget the past and move towards your goals."

Tony Robbins
Motivational Speaker

"Yesterday does not equal tomorrow. Forget the past and move towards your goals."
Tony Robbins
Motivational Speaker
"Yesterday does not equal tomorrow. Forget the past and move towards your goals."
Tony Robbins
Motivational Speaker



Prime Minister of the U.K.