1. Obtaining Capital
Whether by way of debt or equity financing, determining the most cost effective way to raise capital and execute the plan can bring challenges whether in a down or booming economy. Is your business ready for the scrutiny it will face when seeking out financing?
2. Moving Fast Enough
The speed of change in business over the past generation has been nothing short of remarkable. Whether it’s execution of ideas, changes in the market and consumer behavior, or the 24-hour cycle of news and social media, speed has become one of the biggest challenges in business. As a CEO, how can you manage your time such that you can identify what you need to know and yet still run your business effectively? If change makes sense for your business, how do you create a company culture that embraces change and gets away from the “this is how we’ve always done it” mindset?
3. Finding Talent
During the recession, talented people were plentiful and it was easier to find exceptional leaders to upgrade our incumbents. However, the reservoir of talent has dried up and it’s only getting more and more difficult to attract and retain talent. Recent studies indicate that for the first time in U.S. history, the number of younger workers entering the labor market won’t be enough to replace those who are leaving. Cultivating a company culture that attracts top talent into the future is key.
4. Staying Connected with Clients/Customers
Staying focused on customers and serving their needs in a fast pace business environment can be tough. There are now many ways to stay in touch with your clients but which way is the most effective? How do you connect to your customers in a meaningful and memorable way and resist the urge of being lured by other distractions?
5. Managing Growth Expectations
CEO’s should watch for signs of market weakness and be wary that normal turbulences in business may actually mean a slide into a lower growth period. At the same time, it is also important for CEO’s to focus on ways to improve the business and worry less about those things that are seemingly uncontrollable.
We live in a very noisy world with tons of distractions and having the right, trusted advisor to help filter out the noise can be a game changer for any business. At KSJG, we believe that ongoing strategic planning is essential to long-term success. We have a passion for engagement and desire to build long-lasting, mutually beneficial relationships with our clients. We do this by creating an environment that is not only a place to grow and help our clients, but also one that is dynamic, fun, family-like, and driven. Our mission at KSJG is to passionately pave the way to success by helping you work on these issues and many more.
The information contained herein is for general information only and based on authorities that are subject to change. It is not intended and should not be construed as legal, accounting or tax advice. Your individual circumstances may vary from any examples provided and there is no guarantee that any particular tax strategy or exemption will be applicable to you. Contact KSJG or other tax professionals prior to taking any action based upon this information.