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From Recovery to Recession: A CEO’s Guide to Thriving Through Economic Shifts
When markets shift—and they always do—the winners are those who don’t wait to react. They move first, and fast. No matter which of the four cycles you’re currently experiencing, one constant remains true: waiting for things to be more favorable is a bad strategy. Additionally, doing nothing is not an option. Companies that anticipate, plan, and act in alignment with their current business phase can maintain resilience, capture opportunities, and outperform competitors who simply “wait it out.”
Manufacturers, Would a Marketing First Responder Help You Resuscitate Growth?
Fri, Apr 5, 2019 — Manufacturing CEO, are you frustrated and concerned because your company is not growing? And what has gotten you here is no longer working and you’re not sure what to do? Until recently your growth has come via customer referrals, word of mouth and sales generated leads. But sales is no longer producing enough new leads or revenue and competition is threatening. Marketing is tactical at best and more random than integrated and aligned. What if you could call in an expert who could quickly assess the problem, identify and prioritize growth opportunities, develop and implement a plan to restore healthy growth and train the management team to carry on? Marketing triage-stop the bleeding, find the low hanging fruit and build ongoing insights, strategies and capabilities.
What CEOs Should Look for in a B2B Manufacturing CMO
Wed, Apr 3, 2019 — In 25 years of marketing, I heard from industrial manufacturing teams—whether it’s a salesperson, business manager or CEO—that marketing is just for B2C. Industrial B2B businesses need nothing more than sales tools and support. So, it’s no surprise that many industrial businesses think that strategic marketing leaders only apply in B2C businesses—so they have not yet considered what strategic marketing can and should do for company growth. And they may not know what skills to look for when it comes time to hire a CMO or marketing manager. Are strategic marketing leaders needed in industrial environments? And, if so, what should industrial companies look for when selecting a CMO or Marketing Leader? To answer those questions, I’d like you to first consider what is similar and different between B2C and Industrial B2B Marketing.
Revitalizing a Tired Business: 3 Steps to Identify the Problem
Tue, Feb 26, 2019 — Common Growth Problems Among Businesses Companies of all shapes and sizes watch as the growth of their business slows down, then gets stuck. There is an opportunity to turn around the situation, with a collaborative action plan. It’s essential to determine where and why you are taking on water. Perhaps a new competitor entered the market, enthusiasm is slowing among repeat customers, or your company’s stated benefit is no longer relevant. There could be a deceleration in organic growth, or additional usage and occasions have changed. What’s clear is that what got you to where you are most likely will not get you where you want to go! Businesses often try to address growth issues by cutting back on spending, or milking the company/product/service to maintain or get more profit out of declining revenues. However, this strategy becomes a self-fulfilling prophecy; the only direction you can go from here is continued—or accelerated—decline. It is not a viable, long-term way to address organic growth or loss of market share. As a doctor seeks to understand the challenges of a sick patient, they ask questions and observe behavior. They review options to treat to identify the actions that will most likely optimize and accelerate a return to health. To turn around the business, you’ll want to diagnose how you got into the situation—and what has changed—before you begin tackling the turnaround of the business.
Growing Your Business Through Fractional EOS® and Fractional Marketing Resources
Fri, Feb 1, 2019 — “Two Experts Can be Better Than One” Mark Coronna, Partner & CMO--Chief Outsiders with Mark Francis, Fractional Integrator for companies running on EOS® --Visionary Integrator Solutions Introduction to Fractional Resources You may be familiar with the book Traction® and Entrepreneurial Operating System®, which is a proven business operating system for small- and mid-sized businesses (SMBs). Within this system, the author details a tool called the Accountability Chart, an elevated version of the traditional organizational chart. An important point of this tool is that it takes two types of people to move a business along, the Visionary and the Integrator. The Visionary is typically the founder, while the Integrator may go by the traditional titles such as CEO, COO or GM. The roles of the Integrator include translating the vision for the company into action and results and also leading, managing, and holding accountable the major functions of the company. While usually considered a full-time position, you may not know that Fractional Integrators for companies running on EOS® have been effectively working with Visionaries and helping free those who have become trapped in the day-to-day.
A Practical Guide to Using Fractional Marketing and Sales Execs: What Small- and Mid-Sized Business CEOs Need to Know
Tue, Jan 22, 2019 — Written by: Mark Coronna, Partner & CMO--Chief Outsiders with Jeff Parris and Daniel Steyn, Fractional Sales Executives--Sales Xceleration The use of fractional executives (also referred to as interim, part-time, on-demand, or outsourced executives) has traditionally been related to business functions such as finance, human resources, or technology. The use of the word “traditionally” deserves to be put into perspective. The oldest and largest fractional executive company, B2B CFOs, was founded in 1987. This article will drive three major points: Fractional execs are a relatively new option for small- and mid-sized businesses (SMBs) Small- and mid-sized businesses are in a great position to secure significant value from this leadership staffing model While fractional Marketing and Sales executives are a “newer” concept than using fractional execs for back-office functions, fractional Marketing and Sales execs can provide critical expertise and timely support for SMBs with growth challenges or those interested in more rapidly accelerating growth! We are going to use the terminology “go-to-market executives” to refer to both fractional Marketing and Sales execs. These roles are not the same but are compatible and collaborative when helping set and execute a business’ growth agenda.
CEO Growth Series: Challenge #2 - Working in Your Business Instead of on Your Business
Mon, Jan 21, 2019 — CEOs come in many different flavors… sales-oriented, product-focused, operations, finance, and other disciplines. Often, where you are most comfortable, and where you dive in deep is in the area of your own prior experience. With every company I have engaged with, I see this challenge: the CEO is so involved in the business and working in their comfort zone that they can’t see the wider perspective. They’re so in the business that they’re not working on it. Growth suffers as a result. Most CEOs are not aware of the problem. They’re just completing activities, like arranging chairs on the deck of the Titanic while the ship is sinking. It’s also hard to self-diagnose. And, you’re not going to hear about it from people on the inside. So, to be clear and as helpful as possible: If your business is not at least tracking with the industry growth rate, there’s a problem, and it’s with your company. It may be time to step back and work on your business.
CEO Growth Series: Challenge #1 - Lack of Focus
Wed, Jan 16, 2019 — Overcoming the most common impediment to business growth You can see it in their faces. The look of a tired or burned out entrepreneur with not enough time or resources to outrun the wave. Sound familiar? If you’re currently moving at 100 miles per hour and not accomplishing much, or you wonder if you are doing the right things, or you see lots of activity but not much in the way of results, you and your organization are probably suffering from a lack of focus. Lack of focus is the most common business problem standing in the way of growth and one of the hardest to resolve.
How Small- and Mid-sized Business (SMBs) Can Execute the “Virtuous Cycle” of Digital Growth
Thu, Dec 13, 2018 — This is the final installment in our series. This article will emphasize effective adoption of best practices, offer a logical sequence to implementation, and discuss building organizational and program maturity. This article will help you understand how to achieve “digital growth champion” status. This is also the last in a series of five articles focused on helping executives in small- and mid-sized businesses utilize digital technologies effectively to assist in accelerating revenues and profits. If you missed the first four articles, you can find them here: Article 1 Article 2 Article 3 Article 4
Aligning Business Strategies and Digital Platforms to Drive Growth in Small- and Mid-Sized Businesses (SMBs)
Thu, Dec 6, 2018 — This is the fourth in a series of articles focused on helping executives in small- and mid-sized businesses utilize digital technologies effectively to assist in accelerating revenues and profits. If you missed the first three articles, you can find the first here, the second here, and the third here. Three previous articles included an introduction to four major ways digital technologies can help your business and described a spectrum of technologies and a possible implementation roadmap, and associated digital proficiency with enhanced business performance. We also looked at how business process needs and priorities should help guide your digital paths and how to organize your people for success. We are ready to discuss the third step on the “USA” digital roadmap: “Implement New Platforms and Technology.”