Challenges for new CEOs

A recent USA Today Snapshot^® referenced an interesting study. Asked to name the top challenges they face in their first 100 days on the job, 1,400 chief executive officers said:

• Increasing productivity - 30 percent
• Increasing profitability - 20 percent
• Personnel decisions - 13 percent
• Building rapport with new staff - 13 percent

Study results reaffirm Barr Corporate Success's DISC (Dominance-Influence-Steadiness-Compliance) and PIAV (Personal Interests, Attitudes, and Values) profiles for those who work in profit-oriented leadership positions. An interest in the bottom line is critical in roles requiring careful management of resources. A CEO's natural tendency is to focus first on numbers, a comfort zone and primary accountability, rather than "emotional intelligence" strategies.

However, Barr Corporate Success's 20+ years' experience in high-level management strongly suggests that neglect of rapport, teamwork, employee engagement, and motivation seriously impairs strategic plans to improve profitability and productivity. Even CEO's with stellar track records can fail spectacularly if they start off on the wrong footing with their senior leadership teams.

Becoming familiar with current financial conditions in a new post is a no-brainer, but CEO's are well-advised to also establish strong rapport with direct reports. Those who do so reap the benefits of a better grasp of the skills, engagement, and styles of the team who will implement strategies which improve the bottom line. The result is smarter personnel decisions, messages that cascade throughout the corporation, more effective implementation, and very real financial gains. Disregarding the expertise and input of those who best know current conditions has dire consequences in today's difficult business environment.

Yes, market conditions are tough. But now is the perfect time to secure market position, find new markets, and develop a leadership team able to navigate stormy waters. Understandably, business owners and senior management are hesitant to commit scarce capital to consultants. They're right to be cautious. Some consultants offer recycled information, and induce eye-rolling or clock-watching with touchy-feely, time-consuming seminars.

Unlike so many of us, as her associate, I (Jodi) can attest Krissi Barr never wastes time. There may never have been a more effective time manager, or one more able to provide 100 percent signal, 0 percent noise! Our clients have written countless letters to affirm the value Krissi has delivered and the results they've reaped. Barr Corporate Success's services are focused, efficient direct consultations with specific information and hard data which quickly identify wasted time, money, and human capital. Clients are often amazed at the stark difference between Barr Corporate Success's results and those of prior consultants. Executives and their teams are never left thinking that time with Krissi might have been better spent elsewhere.

Let's face it: Only companies with an agile, engaged, and effective senior leadership team will be able to withstand and adapt to these economic conditions. The expertise of Barr Corporate has saved struggling clients before, and improves the bottom line of current clients every day.

Krissi will gladly discuss strategies to overcome the challenges you're facing, and offer concrete strategies to seize opportunities. Call (513-470-8980) or e-mail her today.

Lehner of SeverCorr to Speak March 14

I’d like to personally invite you to join me and the Greater Cincinnati Association for Corporate Growth and the Greater Cincinnati Venture Association as we host Eddie Lehner, CFO, SeverCorr on Wednesday, March 14. Eddie is both a personal friend and former customer. The deal at the heart of his topic, Raising $900M To Build A Steel Company in Rural Mississippi, was named the 2005 “Deal of the Year” by Project Finance Magazine. The topic comes at a time when U.S. manufacturing industries and the surrounding issues of outsourcing and jobs are on the minds of the American public, corporate management, and elected representatives.

SeverCorr will use low-cost technology to produce high-quality steel, a market largely served by U.S. Steel, Mittal Steel and AK Steel, which employ more expensive techniques. If successful, SeverCorr could prompt a whole new wave of steel industry investment in the United States. SeverCorr believes it has other advantages over its northern rivals: It's non-union and strategically located near several automotive manufacturing facilities. SeverCorr has been recognized for the unique way in which the financing was structured. The majority of the vendor payments are linked to the long-term performance of SeverCorr. GE Commercial Finance has backed the plant with over $440 million. Eddie has local roots – earning his degree from UC and starting his career in Cincinnati’s Deloitte & Touche office. I’m excited about the opportunity to hear Eddie speak and hope you can join me Wednesday, March 14 at the Hilton Cincinnati Netherland Plaza’s Hall of Mirrors! Registration is at 11:30, followed by the luncheon and presentation from 12 to 1:30 p.m.

You can easily register by calling 866-500-ACGC or visiting www.acgcincinnati.org for secure online registration. Please feel welcome to invite anyone who you think would enjoy hearing Eddie’s insights.

See you there!

Krissi Barr

Return to Barr Corporate Success -- http://www.barrcorporatesuccess.com