If you own your own business, you have the weight of a huge responsibility on your shoulders on a daily basis.
Although entrepreneurs have a reputation as serial risk-takers (and they certainly have to be to even contemplate starting their own company), the reality is that as any organization grows and the growth is sustained through time, the “fears” of a typical CEO increase as well.
Recently our friends with Vistage released a very interesting piece on this topic. Vistage is the world’s largest CEO coaching and peer advisory organization and have been researching and documenting business owner behaviors for years, and are experts on what keeps CEOs awake in the wee hours of the morning.
The article, entitled “The 6 biggest fears of any CEO”, is a great analysis of the common fears most CEOs face. All six are quite telling and ultimately lead to the biggest common fear, which is simply the fear of failing. However, the one that caught my eye was the one that we all experienced in 2009 during the Great Recession and most recently in 2020 with the Pandemic impacting so many businesses: The fear of risk and a bad economy.
I think this one is the most troubling because on the macro-economic level, "stuff" happens that can impact business owners that they have very little control over. This is how the Vistage team summed this fear up:
A bad economy can destroy the best companies. Even Amazon almost went out of business as the dot-com bubble burst. CEOs know this well. According to the February 2021 WSJ/Vistage Small Business CEO survey, 76% of CEOs said that they were very or extremely concerned about the national economy. Two-thirds reported the same level of concern for their local economy.
Now the flip side to this, and what amazed us last year about so many of our clients, was how resilient many were in adapting, innovating, and simply overcoming the negative consequences of the Pandemic in 2020. So even though the fear of the unknown was very real, many of our clients recovered quickly because they used that fear to come up with new ways of doing business.
In our Growth and Exit Planning Conferences, we spend a great deal of time talking about the importance of intentional growth and why in every businesses' life cycle there comes a point where if you stagnate, if the business has plateaued and is possibly even shrinking, that it is vital to come up with tactical and strategic plans to re-invigorate the entire organization.
Our team with Generational Consulting Group (GCG) has proven to be quite successful in doing this for lots of our clients. Here is what a few of them have to say about this guidance:
So as you have heard, the fear of failing can not only be overcome, but it can be significantly reduced by having our growth consultants work with you and your team to develop and implement tactical and strategic growth plans that really work. Use the following links to learn more about how we can help you get back to sleep at night!
Carl Doerksen is the Director of Corporate Development at Generational Equity.
© 2021 Generational Equity, LLC All Rights Reserved
it all started with a conference.
start your story today,
speak directly with one of our senior advisors +1-972-232-1121
The information we learn from customers helps us personalize and continually improve your experience. Here are the types of information we gather.
We receive and store any information you enter on our Web site or give us in any other way. We do not sell or rent your personal information to others without your consent. We use the information we collect only for the purposes sending promotional information, enhancing the operation of our site, serving advertisements, for statistical purposes and to administer our systems. We DO NOT use third parties to provide customer service, to serve site content, to serve the advertisements you see on our site, to conduct surveys, to help administer promotional emails, or to administer drawings or contests, but reserve the right to do so in the future without advance notice.
Generational Consulting Group’s affiliates are all part of one corporate family, they work with one another and may work together to provide services to you. The sharing of your information among affiliates enables Generational Consulting Group to serve you more efficiently and makes it more convenient for you to do business with Generational Group. Generational Consulting Group is permitted by law to share information with its affiliates. All of our affiliates follow similar privacy policies.
For reasons such as improving personalization of our service, we might receive information about you from other sources and add it to our account information.
Generational Group may license the use of its intellectual property including but not limited to its name, likeness, and logo for the use of affiliated offices. Such affiliated offices may not be owned, controlled, managed, supervised or staffed by employees, officers, or agents of Generational Group. Affiliated offices may be independently owned and operated. For more information about a particular office, please contact Generational Group at its office in Dallas, Texas.
This page may contain other proprietary notices and copyright information, the terms of which must be observed and followed.
Information on this web site may contain technical inaccuracies or typographical errors. Information may be changed or updated without notice. Generational Group may also make improvements and/or changes in the products and/or the programs described in this information at any time without notice.
Generational Group does not want to receive confidential or proprietary information from you through our web site. Please note that any information or material sent to Generational Group will be deemed NOT to be confidential. By sending Generational Group any information or material, you grant Generational Group an unrestricted, irrevocable license to use, reproduce, display, perform, modify, transmit and distribute those materials or information, and you also agree that Generational Group is free to use any ideas, concepts, know-how or techniques that you send us for any purpose.
Our computer system protects personal information using advanced firewall technology.
Information Generational Group publishes on the World Wide Web may contain references or cross references to other products, programs and services that are not announced or available in your country. Such references do not imply that Generational Group intends to announce such products, programs or services in your country. Consult a Generational Group representative for information regarding the products, programs and services which may be available to you.
Generational Group makes no representations whatsoever about any other web site which you may access through this one. When you access a non-Generational Group web site, please understand that it is independent from Generational Group, and that Generational Group has no control over the content on that web site. In addition, a link to a non-Generational Group web site does not mean that Generational Group endorses or accepts any responsibility for the content, or the use, of such web site. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, Trojan horses and other items of a destructive nature.
IN NO EVENT WILL Generational Group BE LIABLE TO ANY PARTY OR ANY DIRECT, INDIRECT, SPECIAL OR OTHER CONSEQUENTIAL DAMAGES FOR ANY USE OF THIS WEBSITE, OR ON ANY OTHER HYPERLINKED WEBSITE, INCLUDING, WITHOUT LIMITATION, ANY LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF PROGRAMS OR OTHER DATA ON YOUR INFORMATION HANDLING SYSTEM OR OTHERWISE, EVEN IF WE ARE EXPRESSLY ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
Furthermore, all information contained within this website is the property of Generational Group.