speaks with business executives every day. The spectrum of these discussions range from how they want to improve their business to personal goals to what they see as threats in 2017. Beyond the obvious issues of growing top line revenue, raising capital and managing investors, CEOs are now seeing external threats as a growing concern. The following are the top five issues and concerns in 2017 that keep CEOs awake at night.
The New Administration
Everyone is curious how they will be affected by the new administration, especially small businesses. Regulations will be tweaked and CEOs need to react. Tax reform and trade policies will likely be updated, changing the way business operate today.
Growing Competitive Landscape
At the forefront of every CEO’s mind is the landscape changing around them. Internal teams affected by external changes. The change can inhibit growth or provide unique opportunities if caught at the right time. As clients and competitors change, businesses need to react to those changes.
Compliance is a concern for all businesses. As healthcare regulations are formed with the new administration, business will have to figure out how to cope. Standards need to be met or else fees will be issued and that is the last thing that a CEO wants to have to deal with.
Creativity and Adaptation
CEO that adapt quickly will come out on top. By encouraging creativity and change within an organization, businesses can grow with the market. It is becoming more and more important for small business owners to adapt quickly because as the market expands more competitors will see the open opportunities.
Hiring Quality Employees
Growth is determined by the quantity and quality of the employees brought on. As a CEO you should be looking for new hires that will move the business forward. In order to get the highest quality employees businesses today need to offer, not only top benefits, but benefits that match their employees culture and lifestyle.