Tag archives for eta - Page 6
Managing a Blue-Collar Workforce
Hiring and retaining a “blue-collar” workforce rapidly rises in importance once the challenges of taking over the business after closing are dealt with. Searcher/CEOs report that managing a direct, nonexempt, hourly labor group is much…
IT Systems
When you take the CEO position of the business you purchase, you are likely to find inadequate and antiquated IT systems supporting the business. After all, you have purchased a "good" business and a "great"…
Knowing your competition
Once you have purchased a business, get a solid understanding of how your competition thinks and behaves. Doing so will be critical to developing your strategy and tactics for profitable growth. It is often too…
Growing Revenue
Striving for growth on the top line of your business rarely yields immediate results. Achieving profitable growth at a reasonable pace (GARP) is a more manageable objective. You want to be a "profitable company that…
Pricing for Value
Developing, and executing an effective pricing strategy has a more immediate impact on profitability than increases in volume, which take much more time, energy and patience. As CEO, your leadership role in pricing is paramount.…
Sharing profits, not equity
When I worked for large companies, the concept of profit sharing was limited to the upper echelons of the organization generally in the form of annual bonuses that were mysteriously calculated, paid 3-5 months after…
Developing an Accountability Culture
All Searcher CEO's strive to lead a profitable, growing business with shared values across the organization, a common mission, and a culture of accountability. This is a lot harder to reduce to practice than it…
Strategic Partnerships
Strategic partners can be very important to your business. By ignoring this opportunity to gain significant resources may limit your growth and learning. I was not naturally a partnering kind of entrepreneur and wanted control,…
Downsizing your business
While you did not buy a business to see it shrink, most "on-going" businesses will experience a decline in revenues that will severely test its leadership. Emerging stronger from the decline will require some tough…
Exit and/or Recapitalization
Exiting your business or buying out your investors represents the "payday" for your efforts and risk after many years as searcher/CEO. It may or not mean that you will step away from the business, but…