Analytical CEOs of growth companies have a clear picture of their priorities.
Here is a snapshot based on recent research. Successful CEOs and their teams:
- Have a strong focus on developing innovative new products which will sell at high margins and support high growth rates;
- Are prepared to see 20% of annual sales committed to identifying opportunities, developing the validated ones, and taking them to market;
- Consequently, see their key challenges as successfully validating opportunities including markets, successful R&D and market entry;
- Will use, early on, funding from founder’s money and cash flow. Later, they are prepared to seek investment su
- Use Advisory Boards and formal Boards to guide the company and support the CEO (and these, of course, become obligatory when investors are involved);
- Are ready users of external advice – particularly to speed up and reduce the risk of market entry.
Thus, these CEOs and their teams are outward looking. They ensure their companies are well connected with their market places. They are prepared to invest in developing their opportunities and capabilities, and to access expertise to fill skills gaps needed to achieve their goals