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5 Tips on improving your bottom line from one CEO to another

Like many who hold CEO roles I have at times felt isolated whilst running the business. Providing advisors and mentors to the CEO’s of start-ups and existing SME’s is, I believe, an invaluable service. For over twenty years I was the managing director of a highly successful electrical and mechanical engineering company. More recently, I have become a business mentor and coach.  I have advised and mentored start-up and existing companies in the IT, Real Estate and Recruitment sectors. I have worked with CEO’s and managers who wanted to improve their sales and marketing strategies to take advantage of new and growing markets. Identifying and focusing on their goals was crucial to seeing measurable improvements in overall sales.

As a mentor, I found it wholly satisfying to witness my clients’ successes. However, there was no ‘silver bullet’ involved in any of these success stories. Rather, it was the basic foundations of setting smart attainable goals that gave my CEO’s and managers the confidence and skills to improve their sales figures and therefore the overall profits of their companies.

These foundations can be summed up in five simple points:

  1. Start with the WHY – why do you want to change your existing sales and marketing strategies?
  2. Give yourself time – a deadline for implementing the changes AND a time-frame for measuring their success.
  3. Review your goals periodically – so they can be renewed if necessary.
  4. Invest in your team – provide confidence building, motivational and upskilling opportunities for you and your team.
  5. Stay positive – believe in your goals, your team and yourself.

Of course, knowledge of the basics is one thing and know-how is another. I have learned from my own experience as a managing director that a problem shared can be a problem solved. I believe that CEO’s can learn from and build on the experience of those who have travelled a similar path.