Leading in the 2022 pre-recession landscape: Jay Holstine CEO peer group discussion

In our pre-recession business landscape, leaders are meeting a variety of new challenges, and targeting new opportunities for growth. One of the most effective ways for leaders to strategize and troubleshoot is from sharing experiences and discussing new trend data in a confidential group of fellow business leaders. Jay Holstine’s Dallas-based Vistage group is comprised of 18 CEOs, from non-competing companies, who are committed to bringing their businesses and their leadership skills to new levels of productivity. “The understanding that these members now have of each others’ business concerns and goals really enriches the discussion,” Holstine said.  

“From redefining the role of technology in their companies, or sharing updated strategies to build profitability in a new economy, the interplay of ideas is crucial to finding solutions that fit each CEO’s company,” Holstine noted.  “Our Vistage CEO group is sharing research and practical experience, as they respond to each others’ challenges and identify ways to help teams and companies work more successfully,” Holstine said 

“In our most recent workshop, several CEOs shared goals and strategies in pinpointing new areas of growth for acquiring and retaining the best talent, and improving project delivery. Some of the highlights included: 

GROWTH: 

The disruptions of the last two years have led to unexpected growths in some businesses and reductions in others. With this vast reorganization comes opportunities on myriad levels and aspects. Every business is positioned with a unique disposition toward growth. While high growth targets increase a company’s profile, profitability and future opportunities, it also often presses new challenges into almost every area of the operations.  

One CEO shared that, in times of growth of 25% per year, when the company’s core group of leaders is tasked with delivering more, while training new professionals, it can often be an additional brick in the wheelbarrow, and that more activity and higher revenue do not always produce more cash flow. 

However, when growth is managed well, it provides revenue along with market visibility, leadership, and the acknowledgement of success. This helps attract and retain top talent. Strong CEOs encourage a company-wide commitment to long-term success and tells a compelling story for future customers and prospective employees. 

The CEOs agreed that in the ideal, growth-oriented firm, every department is seeking aspects to improve, asking how areas of product delivery, communications, business development, can be done more effectively. Leadership in these companies prioritizes customer satisfaction, and supports workforce internal development and support, as they identify the most productive paths for improvement —and estimate its implications to the business. And ideally, these strong CEOs know the competitive landscape and are looking for opportunities to provide innovative and compelling new solutions to their market. 

STRONG FINANCIAL MANAGEMENT

Skilled, practical and experienced financial management ensures business stability. Now, as ever, strong, solid, sustainable growth for a business relies on a strong financial base. Likewise, today’s leadership needs confidence in the firm’s financial position to make decisions about pursuing bigger opportunities and expanding capacity.

The growth-oriented firm empowers its financial management team by incorporating high-level people who have significant experience with their industry’s business model, and gives them access to timely and reliable information about both individual project status and the business as a whole.

With new developments in transportation, workforce activity, and materials, leaders are realigning methods of project delivery. Leaders are making sure that their project teams have the right tools for success. They are asking their teams to redefine the drivers for success, and determine what aspects of the project plan should be updated. From setting the right scope, assigning resources, setting milestones and delivering the final product. Define, document, deliver and repeat.

KEEPING THE PLAYERS MOTIVATED

“People are inspired to dedication by being a strong part of an important team. A compelling goal focuses a team on success. Behavior is most likely to adapt when changes are a matter of survival. Necessity of project success is one of the most effective ways to build trust and involvement.

A successful team is focused on a purpose, with an organized timeline and set of responsibilities, deliverables and rewards. This emphasizes the value of the team’s success and its importance to the company.

After a lot of shared strategies based on experience and research, the group agreed that it is critical to keep all the parts of their team on the same page and working smart,” Holstine noted. 

“These types of concerns are one of the areas of leadership that this group regularly confers on,” Holstine said. The Vistage CEO peer group enables a shared wisdom based on experience so that trusted leaders, from non-competing industries, can continue to grow their teams’ skills and capabilities,” Holstine said.