For 25+ years I’ve had the joy, pleasure and challenge of working with CEOs, presidents and business owners throughout the United States across a wide range of industries. The segment of the marketplace I generally work with are family-owned (sometimes for generations), privately held entrepreneurial businesses and people who have done quite well in life and in business who simply want to continue being successful. Many are doing a significant, impressive, profitable amount of volume at the company they lead. How do they do that year after year? They think about today to be in business tomorrow.
There’s a vast difference between people who have a privately held entrepreneurial-type business than being a corporate giant. In the major corporations, it’s all about the numbers – no matter what the advertisements and public relations campaigns may state. It’s all about meeting the targets for sales and profits that the financial analysts project so the stock prices don’t drop. For the CEOs, it’s about reaching goals, interacting with the board of directors and to make certain the company brings in the profits to receive big dollar amounts in annual bonus and perks. The average span of time a corporate CEO remains at the top of a company averages between seven to just shy of ten years depending on what statistics you refer to. Sometimes it’s a much shorter span of time and rarely is it longer due to today’s ever changing, highly competitive and accelerated business world. Business results can change in a day – for better or for worse, making a corporate CEO’s job tenuis at times.
That’s why CEOs need to think about today. Making the most of getting everything they can out of the company because their salary and bonus is tied directly to results, profits and the dividends paid to shareholders.
It’s quite different if you are a CEO, president or business owner of a privately held/entrepreneurial company. You may be doing quite well in your leadership role. Company results are profitable year-after-year. Perhaps a recent year brought, for example, $400,000 in profits. The year before that, $600,000 in profits. The difference in business profits only drives you more to excel at what you do each year. Though there may be a difference in yearly profits, you know the company will be okay. Because you founded or own the company, that brings further stability to the business each year which both employees and customers appreciate. You have no immediate plans to vacate your position as head of the company.
As a CEO, president or business owner, say to yourself daily:
- I am going to be in business today and I am going to be in business tomorrow.
- I am not doing this for just one year or three years; I’m doing this for many years because it’s just who I am and what I want to do.
- I enjoy my work. I can’t imagine working for someone other than myself.
- I enjoy the challenge of my work.
- I like the lifestyle and financial reward my work has created for me by being successful.
- It helps my employees and their families; as well as customers, to have a better life.
Every day spend time thinking about your business. Specifically put aside quiet time just to think about business, today and in the future. Put your thoughts down on paper or type onto a screen, whichever your preference. Spend 10-30 minutes. See where your thoughts take you. Then put what you can into motion to improve and grow your business day-by-day, year-by-year.
When thinking about your business, remember you are not just thinking about today.
Think to yourself, for example:
- How can I make my business most profitable?
- How do I plan for the future?
- How do I build the business?
- How do I build upon today’s success for future success and profit?
- How do I make the business stronger?
- How do I put myself and the business in a position where every year the results are better than the previous year?
- What do I need to think about today, so I am in business tomorrow… and for the long term?
When you are writing or updating your business plan, you are essentially thinking about the future. You are envisioning tomorrow.
You want to make money today but sometimes it’s necessary to take a step backwards to have an even brighter future tomorrow. It’s important to your business success to not just be thinking about the moment.
What is important is to live in the moment but it’s equally important to have a business plan that looks to the future. You need to plan every step you take with your business – including with the sales process.
- How is every sale going to help build on the next sale and the next sale, and the next sale and the sale after that…?
- How can every employee make the business stronger?
- How can I make every employee better at what they do – and enjoy their work?
As CEO, president or business owner, you are looking towards the future of tomorrow.
Yes, you want to make money today.
But tomorrow is just as important as today.
If you work to put your business in a position of doing better tomorrow, then you potentially will have an incredible income for the rest of your working life. You will be building something of real value to pass on in the family or can be sold one day in years to come to secure your retirement.
Always be thinking about today; but tomorrow is just as important to your business success and company profit.
Every day brings you closer to getting everything you want from your business.
Be in ACTION! Make it HAPPEN!
To your success!
Business expert and strategist, Howard Lewinter, guides – focuses – advises CEOs, presidents and business owners throughout the United States across a wide range of industries, to MORE success – MORE profit – less stress. Business people trust Howard’s vast business knowledge, practical advice, intuitive insight and objective perspective to solve business problems and issues. Get MORE from your business! Talk business with Howard: 888-738-1855.
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