CEOs of midsized firms must learn to stop tinkering with their strategy. Most midsized firms have core businesses begging to scale, and tinkering with a successful strategy kills growth.
There are times when a CEO should step down and replace himself. Steve Ballmer, CEO of Microsoft is doing just that. I’m a big believer in CEOs. They can do great things, and can adapt amazingly—if they have the energy and choose to change. My work is all about helping CEOs step up their game. But many CEOs, usually in tough times, wonder if they should hang it up.
This is a handy example that illustrates how to set up simple project plans and allows for sorting to double check work load over time. Press Read More to download.
Robert Sher was quoted in the Inc. Magazine’s September print issue in this article about innovation— asserting that too much innovation can actually hurt your business. The article reviews statistics that prove the point, and distinguishes between different types of innovation.
It underscores the importance of picking the best ideas—and developing them, as well as focusing on scaling high-growth core business opportunities to cash in on proven innovations, and to reduce focus on new ideas during those intense high-growth times. Read the story on-line here.
Writing a simple plan for a project or campaign—even just a page or two makes for better execution. Why? The writing forces more careful thinking, allows for better coordination between team members, and memorializes our best thinking. They also are helpful in getting approvals from the boss and other team members.
How big can a firm grow without leadership infrastructure? When is the right time to move past free-form entrepreneurialism?
This business grew to $100 million revenues in 12 years without a business plan, without a budget, and without many meetings. Hard to believe, but true. Yet now they are changing their approach because they can feel themselves losing control.
I walk by Zynga’s cool building in San Francisco often on my way to a client I have in SOMA. So it was sad to hear of the layoff of over 500 employees. Such a fast acceleration to a billion plus in revenues, and now the growth curve has reversed. What are the lessons to be learned for other mid-sized company CEOs?
Most mid-sized business cannot be an amazing growth story. While the media loves crazy-fast growing companies, trying to make a company grow faster than it should often destroys value.
Any company that has weathered the recession of 2008-2009 well should congratulate itself for exemplary performance amidst truly trying times. And with the stock market at new heights and the broader economy on the upswing, the leaders of many high-flying companies could not be blamed for feeling that now is the time to double down on their strategy. Yet ironically this could sow the seeds of trouble.
Robert Sher is founding principal of CEO to CEO, a consulting firm of former chief executives that improves the leadership infrastructure of midsized companies seeking to accelerate their performance. He was chief executive of Bentley Publishing Group from 1984 to 2006 and steered the firm to become a leading player in its industry (decorative art publishing).