It is time to start moving forward with your business and be the CVO to make your company more productive. It is time to stop worrying and start acting. This is not a call to “open up,” but it is a call to restart value creation. Sure, things will be different following this crisis, but as the CEO or owner of your business, it will still be your responsibility to grow the value of your company.
Growing enterprise value should have been your primary responsibility before the pandemic economic crisis. Now, it is the most important part of your job.
It is not enough to just get through this time of uncertainty and make it more certain. Your job is to get through this on top and moving forward. Your job is to make sure that the value of your company can continue to increase. Your job now more than ever is to be your company’s CVO or Chief Value Officer.
To be the business CVO requires an understanding of everything that creates and builds value in a company. Company value is based on sustainability and the ability to grow. Those two things are the basis of what I refer to as Strategic Value. Once you understand the components of Strategic Value, you will understand where you need to concentrate your efforts as CVO.
In defining Strategic Value, I have identified four distinct Pillars of Value: The Market, Financial, Operational, and Strategic.
Within each pillar, there are specific areas of focus. Some are obvious, like profitability and sales growth in the financial pillar. Others are not always what some business owners and leaders think of when considering company value. Brand value, differentiation, repeat purchases, and customer loyalty, for example, are within the strategic pillar. Operational competencies, processes and systems, management and ownership roles, and team strength, to name a few, are within the operational pillar. Visibility in the market segments, rank in the industry, and risk factors, along with your SWOT analysis, are some of the areas within the market pillar. The list of every focus area within each of the pillars is comprehensive and is important to evaluate when you are assessing the strategic value of your organization.
To help leaders who are ready to take the seat as the CVO, I am sharing a proven business-assessment questionnaire that you can use to easily determine your organization’s Strategic Value. It is available online at no cost to you. With the quick survey, which should take you no more than 15 minutes to complete, you can assess your company’s current strategic value. This vital survey helps to determine where you should direct your focus in your role as CVO to increase your company’s value.
To get access to the checklist survey, simply send me a request at joel@chiefvalueofficers.com, and I will send you the link. Once completed, you will receive your Strategic Value score, as well as an analysis of your Strategic Value within the four Strategic Value Pillars. It will help you prioritize where to focus your CVO value creation activities.
There has never been a more urgent time, as we begin to come out of this crisis, to assess where your company stands and understand where your focus needs to be to ensure an upward value curve.
Once you receive your score and assessment, if you have any questions or concerns regarding them, I would encourage you to contact me by email or phone for a brief consultation. Rest assured, there is no cost or obligation. My passion is to help others, especially in these unprecedented times, with what I know can help get you moving in the right direction.
We are all in this together, and I simply believe that it is critically important that as the leader of your business and as its CVO, you know what you need to do to maximize your true Strategic Value.
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