Confident Leader

5 reasons a Virtual Executive will boost your business

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Having scaled the corporate ladder to spend the past 20 years as a leader in service-based large private businesses as CEO of two large multinationals, I know how hard that climb can be. However, I had help — from the team around me to executive mentors who provided guidance and expert advice. I learned everything I could from these mentors; and without them, my own journey to executive level may not have been possible.

My key to business success has been very simple: surround myself with people who are smarter than me… people who could teach me. These are leaders in their field who have the knowledge and experience I may have lacked, who helped me take my career, business and results to the next level. I used to hear a lot of comments from entrepreneurs and business owners about how they wished they could afford a CEO for their business. They wanted to bring in the expertise, wisdom and guidance an executive offers. The comments planted a seed, and as a result, the innovative Virtual Executive concept was born.

A Virtual Executive can offer small to medium size businesses access to the advice and guidance of accomplished executives, some of the cleverest business people who have a history of achievements in business. Your businesses success depends on it.

Here are five key benefits of tapping into an accomplished virtual executive for your business:

1. Expert advice

Accomplished executive mentors are specialists and leaders in their field and are also general business gurus. They can provide advice based on experience – both their own and that of the colleagues and contacts who have come through the business world with them. Many businesses seek help from business coaches for their business, but many of those ‘coaches’ have never been a CEO, executive or led in challenging operating environments. When you seek advice, ensure you ask the person to tell you about what they have achieved in business.

2. Multiple Perspectives

As a business owner, when you look at a problem it’s easy to get caught up in the emotions and personal viewpoint — which can distract you from the main issue and sometimes make you apprehensive and fearful. However, when you digest the problem with a mentor as your sounding board, you’re more likely to look at the situation objectively, coming up with solutions and innovative ideas. Advisors expand your thinking; they guide you toward solutions to problems. And they show you how those problems and obstacles in your business can be the biggest opportunity for growth and ongoing improvements.

3. Profitability Impact

When you tap into an accomplished executive as a resource, you can be sure that they are focused and conscious of the need to deliver tangible and measurable outcomes for your business.  A study conducted by MicroMentor concluded that mentored businesses increased their revenue by 83% while non-mentored businesses increased their income by only 16%.  Research also showed companies that invest in using a mentor report a 53% increase in productivity and a 22% growth in bottom line profitability. Show me a business that doesn’t want increased revenues and profitability!

4. Improving Skills

While the financial benefits of engaging a mentor or business advisor are incredible, it’s not the only benefit of having a Virtual Executive expert on your team. Improving the performance of your business brings with it additional considerations. Do you need more resources and team members to manage the increase in volume? Do you need improved systems and technology for future growth? Is there an opportunity for additional revenue stream or new products? To remain relevant in an ever-evolving market requires a business to have their finger on the pulse and to be up to date with skills and proficiencies. Mistakes can be minimised when making these decisions when you have access to an expert with high-level business experience and acumen. Remember, we don’t know what we don’t know. A mentor can help you refine your skills and help you grow, learn and prosper.

5. Attitude is Everything

When you are running a business, and leading a team, it can feel lonely at the top. You can feel like you’re doing it all alone, you’re working long hours — and your biggest challenges are keeping you awake at night ‘churning’ about what to do. You often just follow your gut instinct when making decisions, and then you spend too much time second-guessing yourself. Your mentor is in your corner; they are there to support, advise and help you make informed decisions. Your advisor helps you reprogram fearful thinking toward thoughts charged with power, conviction and belief. You are then able to focus on your ability to meet your goals with minimal distractions.

There are many benefits to having advice and mentoring from an experienced virtual executive: an expert on your team, helping you achieve your goals. There is no doubt that if you are prepared to lean in, you and your business will grow, prosper and thrive with expert business advice from an accomplished executive.  It’s the best investment you could make in your future.

Grab your FREE copy of the 7 Step Strategic Mapping & Planning Checklist for your business and get ready for 2017. 

About Caroline Kennedy

Caroline Kennedy is an experienced CEO. She has led small, medium and multinational companies, with annual revenues ranging from $1 million to more than $200 million. With over 20 years of expertise spanning across the corporate and private industry. She has a track record of achieving transformational change and delivering results.Caroline has built a reputation as one of Australia's foremost experts on business. Both awards and media coverage commend her work. The Telstra Business Women’s Awards acknowledged Caroline twice for her achievements in business.She is a published author. An Avid trend watcher who contributes to The Huffington Post. Caroline’s book The Power of Wow! Why Thank You Makes Dollars & Sense, shares a 7 step method to help businesses increase sales, retain staff and have clients rave about them.

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