A CEO's Valuable Lessons Learned After Two Decades of Leadership

After two decades of experience as a CEO and CFO, one executive has learned some valuable lessons that can be applied to any business. Cash flow is essential for success, revenue is the best source of finance, it’s cheaper to keep customers than find new ones, and giving data to your team will help them exceed their own expectations. These are the four main lessons that this executive has learned over the past two decades. First, cash trumps everything. This means that cash flow should always be monitored closely and kept at healthy levels in order to ensure the success of a business. Second, revenue is the best source of finance. Revenue from sales or services should be used as much as possible in order to fund operations and investments rather than relying on debt or other sources of financing. Third, it’s cheaper to keep customers than find new ones. This means that businesses should focus on customer retention strategies such as loyalty programs or discounts in order to maintain existing customers rather than spending money on acquiring new ones. Finally, give data to your team and watch them exceed their own expectations. By providing employees with access to data they need in order to make decisions or solve problems quickly and efficiently, they will be able to achieve more than what was originally expected from them. This executive’s valuable lessons have been proven time and time again over his two-decade career leading companies towards success through sound financial management practices based on these four principles. With these principles in mind, businesses can look forward to increased profits while maintaining strong customer relationships and reducing costs associated with finding new customers or financing operations through debt financing options.