1) Generating Revenue

• • Know your target audience.
    Most executives will say they know their target audience, that is why they are in that position, however, if they truly knew their target audience, generating revenue would be easy.

  • Ask the right questions.
    Often businesses have plenty of information at their disposal but do not truly understand what it means and are misled by surface level questions.

2) Time Restraint
Most executives have a long and grueling schedule but do not know how to balance it.

• • Do not use time off for work.
    This continues to drain you. If your schedule is that hectic, hire another executive to help. This will allow you to gain time off and focus your time on the issues that really need your attention.

  • Take time off.
    Similar to not using time off for work, executives need to take vacations. Their travel arrangements to Paris, France or Miami, Florida may seem like a vacation to most, but it puts tremendous strain on the mind and body.

  • Have a prioritizing procedure.
    This allows you to determine what matters and what does not. It will allow you to focus your time where it needs to be.

3) Growth

• • Innovation is important.
    This is where executives should have been investing in research and development (R&D) projects. These projects drive continued business in good and bad times, but also allow for expanding in different markets or diving into a niche market.

  • Do not spend too much time  planning
    This can create paralysis by analysis. For example, if you sell and install equipment, the question often seems to be should one hire more sales personnel or service technicians. The answer is simple, which is you will never guess with 100% accuracy. You need to make decisions and start hiring. It might be painful in the short-term, but will be extremely beneficial in the long-term.

4) Marketing

• • Social media, social media, social media.
    Regardless of what people think, social media is a part of everyday life. It is as consistent as eating. Everyone is on social media, just like everyone eating. If you are not on social media, you need to get on all platforms. If you are already on social media you need to seek professional assistance to further your brand, if things are not working as well as they should.

  • Give all information away for free.
    This makes most executives cringe, however, a growing number of companies have gained tremendous business growth and marketing power through giving away their proprietary information. People respond well to getting information from sources for free.  It helps create trust and a more personal connection.  It will create repeat customers when they have a problem to solve, which can be extremely profitable.

5) Leadership

• • Understand your direct reports.
    This is not just strengths and weaknesses, but understanding what motivates them and what they are passionate about. They could be an accountant, but their passion lies with creating things. Come up with a plan which has them working with engineers to create something.

  • Understand the situation.
    I cannot stress this one enough. Just because someone is a good leader does not make them the right leader. A struggling manufacturing facility does not require the same leadership as a company in its infant stage or even a “mom and pop” type business looking to grow and go public.

  • Do not define leadership without help.
    Most executives, especially CEOs, subconsciously think they know what leadership is, after all they are in one of the most powerful leadership positions a business can have. They often associate leadership with being a good person, however, that is just a simple trait. Leadership is extremely complex and should not be defined without proper help.