Innovation Insights explores the impact of new and emerging concepts in sales, marketing, strategy and leadership for CEOs of growth-driven business-to-business companies.
One of the challenges many business owners face is that of deciding how they should go about making more money. The conventional wisdom that many business advisors and coaches give to their CEO clients is to look for every opportunity to generate greater profits. Unfortunately, this mindset is distracting and destructive to the success of your business.
Do you have an exciting business concept? Perhaps it involves technology that will disrupt a market or change the world. Conventional wisdom says that, after putting in a few months of hard work on your part, designing some wireframes and mockups, writing multiple lines of code and creating a short PowerPoint pitch deck, it's time to go and seek angel investors. Or is it?
Through my experience working with executives, I have learned that it is essential for CEOs to have the opportunity to engage in meaningful conversations with peers and thought leaders. Leadership can be inherently lonely at the top. Rapidly evolving technology, however, is changing the way we do business by providing executives with platforms to engage one another as thought leaders around key issues. This new business landscape empowers CEOs with the information and resources necessary to make informed decisions in a timely manner.
In the past, executives were privy to more information about their company’s products and services than any other stakeholder. The advent of social media, however, is compelling executives to adapt their role in order to remain knowledgeable and competitive in the market. Some of the largest B2B discussions are now taking place online through social media outlets like LinkedIn, Pinterest, Facebook, SlideShare and Twitter.
In 2014, VentureBeat named Hubspot the #1 company in the rapidly growing marketing automation technology sector. This was an impressive accomplishment for a firm that had been founded less than a decade earlier, and whose competitors include many vendors who are both older and larger. How does a growth-driven company achieve a market-leading position so rapidly? What makes it possible to establish and maintain a dominant role as a recognized leader in your industry?
Digital business has evolved rapidly over the last decade. From the early days of companies establishing websites as their digital storefronts to entire departments focused on building and maintaining online communities, digital continues to change and evolve as a core business function. In particular, the new digital business landscape has forced sales teams to evolve to stay in tune with a rapidly changing sales environment.
Before joining Wendt Partners, I co-founded an education travel company offering university students, faculty, and young professionals full-immersion programs in rural Africa and South America. My experience working with this young company enabled me to gain insights into what it really takes to grow a business, focusing on marketing strategies and action plans that result in growth.