Facing New Challenges

Business owners fill many roles – as CEO or President – and as visionary, leader, and cheerleader. You make the big decisions, determine market strategies and tactical direction, the WHAT, WHO, HOW and WHERE of your business, and more.

As a business owner, you must do whatever it takes.

In most instances, you recognized a market need and worked day and night and most weekends … to launch your company and see growth in revenue and profitability. There were times of jubilation and moments when you questioned everything. Yet, you persevered and are enjoying more success. Challenges still exist and competition is a constant pressure, but now you are not alone. You have a team.

But you want more. Your original vision has grown as you have also grown as a business owner … with all the hats you still wear. Maybe business growth is flat of late. Maybe you see a new market opportunity. Or, maybe you need to transition the ownership of your business to a daughter or son, someone on the management team, or an outside entity. New challenges to face and overcome. You have big decisions to make.

As you assess your company’s financial and available expertise, and your bandwidth and that of your management team, there might be another maybe – you realize a need for outside experiences and expertise to  navigate the new challenges. So, how do you find the right expertise, the right set of experiences to provide the requisite guidance?

Ask your colleagues for referrals, and as you meet with candidates to discern their fit and competencies, be clear with them as to your present resources and challenges, and be absolutely clear on what you want to achieve. There are always details. Nail them down. Make the call. Trust your instincts and work to support their efforts on you behalf. Success will follow.