5 minute read
tough questions for ceos to ask themselves
KEN KELLER
SCVBJ Contributing Writer
Irecently presented to a group of CEOs. Prior to the session, one attendee said the one thing he appreciated most was when a speaker asked questions to challenge him, and he ended the conversation by saying “The more difficult the questions, the more it will help me be a better leader of my company.”
Here are the questions I created for that particular CEO, but they are good ones to ask any leader in business: 1. You are killed in an accident on your way home tonight from work; who is the first five calls your spouse / significant other needs to make? Have you made the list; do your relations have this list with phone numbers and is it easily accessible? Things happen, be prepared. 2. If there was only one thing you could add, change or subtract in a critical area of responsibility (Just ONE
Thing!) that would make a substantial, immediate impact on your ability as the leader of your company to be more successful, what would it be?
Be brief answers like “Fix cash flow” or “Find more clients” is the kind of answer that works best. 3. On a weekly basis, how many hours are you, the CEO, actually investing on your answer to question #2?
I once coached an owner looking for his eventual replacement. When challenged on how much time he spent on this critical task, his answer was scary: less than ten minutes a week. I’ll bet he is still looking. 4. Further on the answer to question #2, what resources or decisions do you need for recognizable improvement to happen? Are there any other limitations that you need to have addressed for this to actually take place? You may need outside help and perspective. It’s not at an admission of failure if you don’t have all the answers.
5. Who, by name, are the top five employees that you cannot afford to lose? If you think it is a tough job market today for employers, try replacing someone that you must retain. 6. Are your best people focused on your biggest opportunities or on your biggest problems? If you want to grow, you know the correct answer to this. 7. How many poor performers do you have on the payroll and how long are you going to tolerate their performance? I get it; no CEO wants to have tough conversations. That is why you have people that work for you that will handle these unpleasant tasks. 8. Do you have a formal prospecting and customer relationship management (CRM) program? I ask this only because if you do not have something working in this area, you’ll be like Hem and Haw in the book Who
Moved My Cheese. 9. What area as a leader do you need to specifically become better at and what are you doing to improve in this area? Be specific in your answer. 10. Have you specifically defined and educated your entire team on what it means for them as you work to take your company “to the next level?”
Without you providing a vision and roadmap, all your employees will hear is “This means more work for me.”
Tough questions? Yes, to get you moving forward.
Ken Keller is an executive coach who works with small and midsize B2B company owners, CEOs and entrepreneurs. He facilitates formal top executive peer groups for business expansion, including revenue growth, improved internal efficiencies and greater profitability. He can be reached at Ken.Keller@strategicadviso ryboards.com.
Spotlight: Mitzi Like
LBW Insurance and Financial Services
BY JIM WALKER Signal Staff Writer
The roots of LBW Insurance began in 1922, and it has been serving Southern California and the nation since then. Current CEO and President Mitzi Like joined the company in 1980, and it relocated to the Santa Clarita Valley in 2004. Licensed in all 50 states, LBW has grown to become, as Like described it, “The largest, full-service, independent insurance agency in the SCV.” And you can put the emphasis on “independent” and “full-service.”
While larger national companies sell insurance in Santa Clarita, LBW is the largest independent company here. “We employ just under 40 people,” Like said. “We are not an insurance writer. We ARE the bid process for our clients. We work to come up with solutions for the client.”
One Agent Approach
As the website notes, with its “One Agent Approach,” LBW focuses “on being the one partner clients can depend on for all their insurance, employee benefits, and financial service needs. We are dedicated to understanding our clients’ individual needs, goals and comfort with risk so that we can provide precise, dynamic solutions.
“These solutions may go far beyond traditional plans in order to create a smartly crafted, proactive strategy that better enables our client to be prepared for unforeseen events.
“Our mission is to protect our clients’ interests, assets, and whatever else they may have,” Like said. “We worry so that they don’t have to.”
LBW Serves as Advisor, Advocate
LBW offers property and casualty insurance, worker’s compensation insurance, group benefits, retirement plans, life insurance strategies and more. Because LBW is independent, it can serve each client as their only advisor and advocate in the insurance marketplace.
“We create customized insurance plans for our commercial clients,” Like said. volved and do a personal assessment of their insurance, life insurance and estate planning,” Like said. “We are on a first name basis with them. It’s a very highend approach.”
LBW also works with individuals to manage their risks. This includes obtaining the most competitive quotes for insurance for earthquakes, fire, flood and accidents. This could be for dwellings, possessions and vehicles. It can also
LBW Insurance and Financial Services CEO and President Mitzi Like. COURTESY PHOTOS
“We’ll come up with a solution specialized for each of them.” In this way, LBW can compare the best offers of coverage to suit the client, and then negotiate with the most competitive carriers to further improve their offers.
Beyond this, LBW can help its business clients protect their personal lives and assets from risks related to their businesses. “This ‘White Glove Assessment’ is for business owners and C-suite executives,” Like said. “We are very in-
