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When the Founder Is the Rainmaker: How to Scale Without Losing the Spark
In many founder-led businesses, the founder isn’t just the leader—they’re also the best (and often only) rainmaker. They land the big deals. They have the trusted relationships. They know the pitch inside and out because they are the pitch.
It works—until it doesn’t.
As the business grows, this model creates a bottleneck. Every new opportunity depends on one and only person. And it’s the same person every time. But there’s a downside. When that person is also responsible for running the business, mentoring the team, and shaping the vision, something eventually gives.
Top 10 FAQs: What CEOs Ask Chief Outsiders
Mon, Aug 24, 2020 — CEOs connect with us because they’ve been referred by one of our clients, their private equity firm, or have found us by searching for “top strategic marketing consulting firms” or something similar. When we meet, we often find that these CEOs are frustrated with their growth. They have a vision for where they want to take their companies, but don’t have a means to turn their vision into actionable plans, and then see them implemented. After a discussion around their specific business challenges and opportunities, they’re curious about the specifics of how Chief Outsiders might be able to help.
Top 5 Actions to Positively Impact Financials that CEOs of Mid-Sized Companies Can Do Now
Thu, Aug 20, 2020 — Co-Authored by Aurora Toth, CMO, Chief Outsiders and John Morris, Partner, B2B CFO We are well past the initial shock that first accompanied the onset of COVID-19, and the ensuing economic downturn. At this point, many CEOs realize that coping strategies need to evolve. So how does a company move forward without increasing financial risk while focusing on future growth? My colleague, John Morris, a Twin Cities-based Fractional CFO with B2BCFO and I recently talked about how we are counseling our clients on this key topic, particularly in light of the still-uncertain future. John offered up five immediate actions CEOs of mid-sized companies should be taking to ensure their companies are set up for financial success.
Find New Markets and Shift Your Focus -- At Least Temporarily
Wed, Jul 22, 2020 — Part 8 of the series: A B2B CEO’s Guide to Navigating the COVID-19 Revenue Reality The COVID-19 pandemic undoubtedly has created an economic crisis that has left few businesses untouched. But, if you have been following this blog series, you understand the value of innovation, and, in particular, the value that your aligned sales and marketing leaders will bring to that strategic exploration. Now is the time to entrust your collective team to the task of identifying new opportunities. Borne out of necessity in a world of shelter-at-home mandates, so many new creative ideas have emerged. If your market-facing teams really understand your core competencies, they will find creative ways to apply those core competencies in a unique and innovative fashion to solve today’s challenges.
What can Industrial & Manufacturing CEOs do Right Now?
Fri, Jul 10, 2020 — Industry Specific Advice for Marketing in a Time of Recovery from the Chief Outsider CMOs The following summary encapsulates the highlights of a panel discussion for the Industrial Manufacturing sector hosted by Art Saxby and featuring CMOs Kimberly Miller, Atul Minocha and Dawn Werry. For the full benefit, view the discussion video in its entirety (15 minutes). Short of time? See the discussion highlights (6 minutes). When the pandemic first hit, events for the industrial manufacturing sector were changing daily. Now, at the start of the recovery phase the entire industry is adapting. Some companies have had to find completely new markets for their products, while others have started making completely new products. Across the board, supply chains have been disrupted. Buyer behaviors have changed and go-to-market strategies have had to adjust in order to keep business moving.
What You Should Do About “The 80%”
Wed, Jul 8, 2020 — Co-Authored by Kimberly Miller, CMO, Chief Outsiders and Chris Dohl, President, The Alias Group The conventional wisdom of the 80/20 rule is that 80% of your company sales come from 20% of your customers. If you believe that, then you might believe that those top 20% of customers would guarantee success. And from an operational standpoint, maybe the 80/20 rule could turn into the 20/80 rule, meaning that those 20% of customers should take up 80% of your sales team’s efforts. Now more than ever, businesses should be appreciative of their entire customer base—not just the top 20%. The 2020 coronavirus lockdown has shown us that diversity in service and product offerings and diversity in clients and prospects helps any business weather the storm.
How to Right-Size your Marketing Budget and Get C-Suite Alignment – Part Two
Tue, Jul 7, 2020 — Part Two: Aligning Priorities and Spending with the CEO and CFO Part 1 of this article looked at best practices for determining optimal marketing spending levels. In part 2, we look at how marketing leaders need to align with the CEO and CFO on marketing spending priorities. To help answer this question, I’ve turned to marketing strategy and budget expert Peter Mahoney, CEO of Plannuh, Inc. Peter has decades of experience managing marketing teams, strategy and budgets, including managing a $150M annual budget at Nuance. Peter started Plannuh in 2017 to address the pain and suffering companies experience managing marketing budgets and plans with disconnected tools.
The Reopening Playbook — Real Strategies to Succeed Right Now in Today’s Marketplace
Mon, Jul 6, 2020 — Unless you are reading this blog from the Marshall Islands, Samoa, or about 10 other remote archipelagos, you likely have been impacted by the COVID-19 pandemic. And my guess is you’re sick of reading introductions like, “In light of these trying times,” or “We’re all in this together.” Chances are as a company owner/CEO, you feel quite like you’re in this all by yourself. After all—it’s lonely at the top. So, a few practical tips to move your business through the hiccups and return to healthy growth might be helpful. In the next five to seven minutes, I hope to help jumpstart your current and post-COVID playbook. One prerequisite: Take a look at my previous blog about dealing with changes in the economy - in particular, the section that helps you assess what phase of growth your company finds itself in as you prepare to “reopen.”
What can Travel/Hospitality/Entertainment CEOs do Right Now?
Tue, Jun 30, 2020 — Industry Specific Advice for Marketing in a Time of Recovery from the Chief Outsider CMOs The following summary encapsulates the highlights of a panel discussion for the Travel/Hospitality/Entertainment industries hosted by Pete Hayes and featuring CMOs Deborah Fell, Adriana Lynch and Aurora Toth. For the full benefit, view the discussion video in its entirety (19 minutes). Short of time? See the discussion highlights (6 minutes). The travel and hospitality industries have been severely impacted by the pandemic but companies are slowly starting to re-open for business. It’s an unprecedented time and one of the major underlying sentiments is fear. How can CEOs and businesses in these market segments address and overcome this concern?
Compensation Alignment
Mon, Jun 29, 2020 — Part 7 of the series: A B2B CEO’s Guide to Navigating the COVID-19 Revenue Reality Experience has shown that when sales and marketing are aligned in a strong partnership, they deliver more profitable revenue growth. I have seen this theory in action in subscription businesses, advertising businesses, and tech solutions companies, to name a few. And, if you have read all of the blogs to this point, you now have some insights about how to create this powerhouse one-two punch to effectively conquer your marketplace.