How I’m Helping CEOs Transform Their Firms – 9 Themes
Recently, I’ve received positive response to my Linkedin posts sharing exactly what I'm doing with some of my advisory clients.
I’m working with CEOs of top 50 CPA firms and founders of new tech and consulting startups.
The thing is, even with hundreds of millions of dollars of revenue between organizations, the things that CEOs and their organizations need to get right (or adjust) in order to enable new growth are often the same.
Today I want to bring you into my advisory work and share some of the real advice and observations I've been sharing with my clients.
Chances are, the things that would benefit them would also benefit you and your organization.
So, directly from the notes I've kept, here are 9 themes that have been coming up in my recent client work:
1. Don’t get tempted by revenue.
-> Not all revenue is the same. When firms chase ALL revenue, they miss the value of refining their service offerings by focusing on revenue aligned to narrow capabilities. Start narrow, then expand. Discipline leads to freedom.
2. Sell what matters.
-> Data/technology/ai don't sell. Need to have backstory as to what data does, provides, or allows. Technology is not a “build it and they will come”. Startups must translate their technology into capabilities and benefits for clients.
3. Addition by subtraction is real.
-> Exiting people from an organization can be a BOTH/AND. The organization can move in a new direction AND the individual can pursue opportunities that better fit their skillsets. Critical for CEOs to make difficult decisions when it comes to people. Sure, you can wait...what's the cost of maintaining status quo for another 6 months?
I made that mistake once and have regretted it ever since.
4. Be weary of becoming the operator.
-> There's a difference between an operator CEO vs visionary CEO. CEOs need to spend more time as visionaries (balcony vs dance floor). Where is organization headed? How is that being communicated? If CEO isn't speaking on the vision and strategy of organization, who is?
5. Your clients, or the firm's clients?
→ Position the firm to new clients, not individual practices. How? Build a narrative around the vision and mission of the firm that can be communicated internally and externally. New GTM narrative ties service areas together which will lead to more collaboration.
6. Be more intentional about the flow of information.
→ Not everything needs to be communicated through the CEO. People consume information differently + need different information to get job done. CEO needs to communicate most impactful things. i.e. strategy. Build an editorial calendar for the CEO that defines WHAT is being communicated and WHEN. This ensures consistent communication on future state of the firm. Lean on COO or others in org to communicate on operational matters.
7. Go outside your four walls.
-> There’s an undeniable value in having a third party from your target market as an advisor. Startups especially need someone who represents the buyer's POV in their corner. Makes a world of difference.
8. Closing deals ≠ future pipeline.
-> Closing deals now does not automatically equal future pipeline. Where are engines that are producing future sales opportunities? Engines mitigate impact of future market shifts. Need to create a more balanced focus on winning now + winning later.
9. Don't overwhelm people with big goals.
→ Worked directly with a CEO on how to communicate on aggressive growth goals. CEO: “I can naturally see this happening.” I remember feeling same way as a CEO... Thing is, others in organization (who do the work) don't see it that way. CEOs need to break down big goals into actionable steps to show the path. Goal of 20% growth seems "nautral"? Where will revenue come from? Make it real for people.
That's it for this week. Let me know if there's one theme you'd like me to expand on or if you've got any follow-up questions about a particular situation you are navigating. Interested to learn what you're seeing in your organization.
Replies go directly to my personal inbox.
With intention,
Alan D Whitman
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