As we are beginning to see the light at the end of the Covid-19 tunnel, every small company has now become a scaleup, an emerging growth company. Emerging from a once-in-a-century crisis. Growth not optional. But what’s the best way to grow your company now, with the resources you have at your disposal?
Markets have changed. Customer priorities have changed. What clients thought was valuable several months ago might not be so valuable to them now. Almost across the board, risk tolerance among buyers is lower than it was before. Simply restarting last quarter’s strategy may not be enough.
It’s a lot on the shoulders of a small company CEO. Especially they don’t have a fully-built-out executive team to help sort through the alternatives.
Ironically, even with all the unknowns, most CEO’s don’t have the luxury of waiting it out until the best path is clear. Choices have to be made among a potentially large set of options for growth. Decisions have to made about company direction and resource allocation. Defaulting to yesterday’s game plan could turn out to be the most risky approach of all.
In this new reality, some of the old playbooks will have to be put back on the shelf. Yet, most small companies have lots of choices—sometimes too many—for a way forward. There are many new, but untested, opportunities. CEO’s have to choose a way forward thoughtfully. Resources are limited. Making important decisions is hard. But decide they must. Indecisiveness is not an option.
But CEO’s don’t have to do it alone. An experienced CEO mentor can help CEO’s make the best choices for their businesses going forward. CEO mentors often have access to proven tools and methods that can organize the chaos around strategic decision making.
It’s all about CEO’s increasing their probability of success, confident decisiveness, and stress reduction. What’s that worth?
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Image by Nattanan Kanchanaprat from Pixabay