The Entrepreneurs Council: leadership priorities for high-growth businesses

Like any CEO, high growth is one of my top priorities. But not all growth is created equal – I’m interested in achieving sustainable high growth; it’s really important for us to scale with efficient use of our resources.

We’ve achieved this by ensuring positive unit economics and building our business in a way that can withstand macroeconomic shifts. This approach has allowed us to grow in economic downturns and expansions. We’re seeing other companies follow suit and move away from a “growth at all costs” mentality.

One of my key advisors insists that my top priority as a CEO is to increase overall shareholder value. As I lead a multigenerational family business, I drive shareholder value by ensuring that our business is successful for the long term. Specific responsibilities that drive value include:

• Practicing fiscal responsibility and stewardship
• Developing winning strategic partnerships
• Casting a vision for success that allows for flexibility
• Identifying and mitigating risks, as best as possible
• Surrounding myself with wise counsel
• Incorporating creativity and innovation in the work we do
• Advocating for the policies that will support our stakeholders: namely, our team members, our clients and our community

I must balance these responsibilities while I work with my family members to help them embrace their roles as shareholders. Communication is key, so we have a clear understanding of what value means to each of my family member shareholders. I ultimately must align desired shareholder value with the business drivers that will produce the best results.

My top priority as a CEO is to protect and grow the value of our stock for our shareholders and employees, which means we need to create value by increasing revenue growth by 40% or more, driving the business to become EBITDA positive, and helping to structure strategic partnerships and company acquisitions.

All revenue growth and cost-saving initiatives should be aligned to support the company's overarching strategic goals. For the sales and customer service teams, all incentive goals align with revenue growth targets. For the operations and product teams, incentive goals are focused on cost-savings measures, such as identifying opportunities for automation, exploring outsourced workforce in other countries and optimizing the use of software licenses.

My top priority is delivering predictable profitable growth for all stakeholders, but achieving that can be difficult. From my experiences driving organic growth in midsize businesses, I have created the following “field-tested” guidance:

• Culture is critical. Always keep focused on the company’s potential.
• Create a customer value proposition that lasts multiple years.
• Hire the best. Build your leadership teams in phases.
• Trust your instincts; strategy is never completely clear at the beginning.
• Foster leadership vulnerability to hold management accountable. 
• Ensure the entire company is impacting the customer journey.
• Establish a strong CEO-to-Board relationship.
• Think like a winner. Work harder than anybody; have the courage to be different.
• Make sure everyone in the company knows how their job supports the overarching business plan.
• Be honest, human, humble. Admit and learn from mistakes but never dwell on them.