The CEO Institute has become the leading network of business leaders in Australia.

In these tough times, our members are very keen to see what's working for their peers. In a recent member survey 78% of our members rated the peer group interaction and learning in our member groups as either valuable or extremely valuable.  Now, more than ever, it is important to surround yourself with optimistic and like-minded peers.

What are the critical success factors for business resilience, growth and survival in tough times? 

We've selected some recent comments made by our members:

Take advantage of the situation rather than be a victim of the economic environment.

Focus should be on expanding business within existing markets and strengthen relationships with existing clients. Contrary to many strategies, being narrow, but very deep in your offering will sustain business longer than being broad and shallow.

Financial management, particularly control on debtors, and strategic and creative market development and opportunities. Retention of good staff. Culling of poorly performing staff. Attention to cost of doing business.

Remain positive & passionate in what you do. Do not let opportunities slip through your finger tips.

Quality Leadership and being meaningfully connected to a diverse group of like minded business leaders, who represent different industry experience and skill sets. Having the right people on board, connected to the business purpose, and valuing these people.

A pessimistic attitude will become a self-fulfilling prophesy. Avoid slash and burn knee-jerk reactions. Be pro-active. Tackle it head on.

Leadership first and foremost. Without leadership the employees have little hope of developing the culture / loyalty and motivation to help drive the business forward and survive

Must differentiate and create meaningful points of difference over competitors. Give customers a reason to buy from you. Control costs. If growth is an option, go for it. Do not withdraw sales and marketing profile.

Don’t panic.

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