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"CEBI is one of those intangibles that are impossible to value with a dollar amount. Its something you can use every day and can be the trampoline that sends you higher."

Jeff Semple
President/CEO
Sempac Systems, Inc.

 

Chief Executive Briefing # 7

The Best Decisions CEOs Say They Have Made

Following is a representative sample of comments made by CEB members when they were asked to describe the best decision they made in their business.

1.                  Treating our employees better than customers

2.                  Replacing a couple of poor performing top managers with high energy managers

3.                  Empowering employees

4.                  Bringing systems to the business - trying to be process dependent rather than people dependent

5.                  Hiring top quality people

6.                  Adopting world class customer service

7.                  Setting realistic, measurable sales goals for commission sales reps and not “baby-sitting” the ones who do not achieve those goals

8.                  Hiring certain people

9.                  Growing the business by delegating many of my duties to others

10.              Getting rid of my partner - getting rid of non-productive employees immediately vs. giving multiple tries

11.              ISO certification

12.              Choosing employees who have the people skills I feel they should need for this business, then providing necessary training

13.              Installing a profit-share program

14.              Joint ventures rather than total control

15.              Hiring people smarter than me

16.              Being more selective in the types of clients we pursue and accept

17.              Hiring good people

18.              Start preparing the business for sale the day I bought it - selling it as close to the top as possible

19.              Hiring an operations manager allowed me to focus on growth and development of company

20.              Admitting two younger people as Junior partners and assigning one of them as managing partner

21.              The decision to create an exit strategy and change the “ In it for life” approach to running the business

22.              Broadening our service offerings

23.              Reinvesting profits to minimize debt - continuing to make personal contacts with customers in spite of temptation to resort to electronic marketing and sales

24.              Employing the best people always-talent can always find a place in the organization

25.              Invoice daily and deposit receipts daily

26.              Taking on a business coach to bring clarity to where I am and directing for the future

27.              Hiring staff to enable me to be free to do what I do best, sell (Unique ability)

28.              Re-evaluating vendors and margins - quit providing no charge services

29.              Changing the director for sales and engineering last year

30.              Changing the way I view the company - redefining “ assets” as liabilities and reducing liabilities

31.              Developing strategic alliances with other enterprises

32.              Letting go of responsibility and delegating it to other people

33.              Surrounding myself with the best talent/people

34.              Increasing product pricing to get away from competitive pricing

35.              Hiring two management level employees to take over some of my day to day operational obligations

36.              I have stopped putting square pegs in round holes

37.              Implementing cellular manufacturing

38.              Consolidating units to one store (from 3) and consolidating ownership from five people to two people

39.              Buying out a minority shareholder

40.              Assuming customer to finance our expansion

41.              Specializing in a niche product and service where there is little or no competition

42.              Firming guidelines of expectations for empowered employees

43.              Building relationships with our customers and our vendors -  it has meant very little competitive bidding and loyal vendors

44.              Having a Board of Advisors

45.              Releasing all “Negative Neds”

46.              Networking and computerization of every person in the office

47.              Buying more companies to dilute the risk of one enterprise

48.              Buying out my partner in 1988

49.              Hiring the management I have in place currently

50.              Hiring a general manager - relieves problems with personnel interaction

51.              E-MYTH

52.              Placing emphasis on net profits not gross sales

53.              Hiring some great people

54.              Hiring talented people

55.              Staying independent - ongoing employee training

56.              Paying a psychologist to help interview/evaluate

57.              Implementing a pay for performance philosophy and to develop systems to standardize processes

58.              Letting bad performing employees go

59.              Hiring quality people

60.              Investing in the right hiring process to get the best people

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