Follow the Leaders
McAuliffe Talks Jobs, Workforce Development, Chicken and Kegerators
The audience, which represented approximately a billion dollars worth of business in Virginia, was absorbed. On November 13, close to 150 Central Virginia CEOs gathered to hear what Governor Terry McAuliffe has been up to in his first 11 months as CEO of Virginia.
Like most newly appointed leaders with an ambitious agenda, he has chosen to take quick and immediate action. We learned he’s been on the move, traveling the world to approximately 20 countries and promoting his desire to put “Made in Virginia” on more shelves around the world.
His early economic development record is tracking twice as high as his predecessors’, and according to McAuliffe, he’s just warming up. He answered our questions and at times made us wonder, “Did he really just say that?” All told, we were honored to have him join our member meeting.
Jobs, Workforce Development, Chicken and Kegerators
Since taking office in 2013, McAuliffe’s administration has announced the creation of 211 jobs that are expected to bring nearly $5 million worth of capital investments to Virginia — and deliver much-needed salvation to areas like Galax, Hampton Roads, Appomattox and Petersburg.
Our own VACEOs 2014 Third Quarter Economic Survey reports that staffing and finding the right talent is a major concern for Virginia business owners. It’s also on the mind of the governor. “We are going to see 500,000 new jobs created in the next six years in Virginia,” said McAuliffe. “You will see 400,000 Virginians who will be retiring. We’ve got to fill those jobs. We’ve got to do it.”
His answer? Align college curriculums to sought-after skill sets and jobs. Expect legislation to move the Virginia education system in that direction soon.
Being the CEO of Virginia is a tough job, but McAuliffe seems to be up to taking one for the team, even if it means placing himself in a few uncomfortable situations. Eat a whole bowl of chicken feet followed by a healthy serving of cicadas? No problem! Especially if it means a seven-year ban on Virginia poultry by China is lifted — which, as McAuliffe reports, could bring upwards of $100 million a year to Virginia’s poultry farmers.
Said McAuliffe jokingly, “I will eat anything if it’s going to get the deal done. I will do what I have to do.” Even if that means putting a kegerator in the mansion to court Stone Brewing Company away from 20 other state suitors, or personally consuming enough Virginia wine to tip Virginia wine sales ahead of Texas. The CEOs gathered before him related to and appreciated his passion and sense of humor.
“If you want to attract new business, you need to be able to move the goods around,” McAuliffe stated in closing. But will he be able to unlock the clogged arteries of Hampton Roads and Northern Virginia? It remains to be seen. But clearly, transportation was on the minds of the Virginia CEOs in attendance. Questions for McAuliffe included, “How will he woo low-cost air carriers to the Richmond International Airport to make the west coast more accessible to the state?” And, “Why are gas prices set to rise again?”
Whether they’re the CEO of an insurance firm, an IT company or the entire state of Virginia, everyone seems to be on the same quest: finding creative business approaches to operational efficiency. The better question might be, “When we do find the Holy Grail, can we replicate it and label it ‘Made in Virginia’?”
About the Virginia Council of CEOs
The Virginia Council of CEOs has gathered Central Virginia CEOs together with local and national thought leadership since 2000. Our Think Tank includes award-winning companies across industries like IT Services, Marketing & Advertising, Logistics & Transportation, Business Products & Services, Consumer Products, Human Resources, Finance, Health Services and more. Learn about VACEOs membership.
What the Heck is HAMO?
HAMO stands for “Help A Member Out” and is the way members of the Virginia Council of CEOs community connects to help one another. CEOs do this all the time in their Roundtables because they see each other every month and communicate often in between. But, there is significant leverage in the experience and knowledge of our community of 170 CEOs and 15 corporate sponsors. HAMO (pronounced Hey Mo) takes advantage of it.
What started out as a section of our weekly member email newsletter has transitioned to an easy-to-use mobile app. Now members can post requests like:
– “I am opening a location in Northern Virginia. Who has experience in that market?”
– “I have extra warehouse space. Who needs some?”
– “I need a vendor for widgets. Who do you recommend?”
– “Who has experience with succession planning in a family business?”
– “I know a great, young marketing pro who is looking for a job in RVA”
HAMO is a free app developed by RTS Labs exclusively for Council members.
Crisis Management: How Prepared Are You?
How prepared are you for a crisis? As business owners, we’re often mired down in the minutiae of everyday operational, employee and financial issues – able to plan only so far ahead. But it’s important to stop and consider the consequences of a real business crisis. A product malfunction, a breach of security, a serious accident, a policy change, a plant closing, a rogue employee – these are things that, if mishandled, could ultimately disable your business and damage your reputation.
Crisis Management Knowledge Network Panel
It’s a scary proposition, but worth your attention now. Says Brian Chandler, President of Commonwealth Public Relations and our most recent Knowledge Network meeting moderator, “It is inevitable that something will happen. It might be small, it might be large, but you’ve got to have a communication plan in place.” The consensus around the room was that very few did.
Our Knowledge Network panel consisted of a highly successful national and international franchisor and a PR and public affairs executive with 25 years of experience – both VACEOs members. As long-time business owners, both were familiar with navigating potential crisis situations, and the topic sparked many serious and eye-opening conversations with the panel and among participants.
If you find yourself in a crisis, keep these few takeaways from the Knowledge Network discussion in mind. Of course, the best defense is having a basic plan in place now. Will you take heed? Or are you willing to put your business at risk?
IT STARTS WITH A PLAN
1. Designate the right Point Person. (Surprise: It may not be you!)
2. Know your message points and stick to them.
3. Communicate often and use social media.
4. Don’t forget to communicate to your internal team.
5. Keep your promises.
A quick tip about your Point Person: The best person for the job may not be you, the CEO. Choose the person who makes the most sense from an internal and/or strategic standpoint. If a change management policy coming from the top is causing a stir at the local dealership in Hoboken, it may be beneficial to have a local representative on site to diffuse the situation, for example.
THE MEDIA…YOUR ENEMY OR SAVIOR? YOU DECIDE
Our PR experts agree: Saying, “No comment” is about the same as saying, “Just write what you want.” If you leave a void, the media will find a way to fill it. Our experts also agree that building relationships with local writers and press is very important. Reach out to them for story ideas, offer quotes, become the “go-to expert” in their eyes. When a crisis occurs, be sure to share the story with them first.
According to one panel member, “Your goal during a crisis is to be prepared, be genuine and be responsive.” This advice may sound obvious, but if you find that your Facebook and Twitter accounts are blowing up, there’s a line of employees outside your door wanting to speak with you, and the media is on the phone, it may be too late.
THE BEST OFFENSE IS…
Really, the best offense is a good defense. Be proactive NOW. Besides taking your local Op-Ed columnist to lunch:
1. Prepare a crisis communications document. List specific names and cell numbers of individuals who are the most important for you to reach in a time of crisis. Include local police leadership, media contacts, your PR person, board members, etc.
2. Have a social media plan in place. Re-communicate your policy to your employees regarding crisis situations.
3. Consider hiring a PR firm. Ask for crisis training and video practice sessions.
4. Recognize potential hazards before they happen. Learn from the stories of the day and consider how you would respond.
2014 Third Quarter Economic Outlook is UP
Robins School of Business – Virginia Council of CEOs survey shows highest level of optimism in four years.
Each quarter the Virginia Council of CEOs (VACEOs) and University of Richmond’s Robins School of Business partner to take the pulse of top executives in the region.
The survey results provided by Richard Coughlan, Senior Associate Dean at the Robins School of Business, provide a snap shot of the overall economic outlook index for various companies within the region and help central Virginia companies anticipate business decisions and plan for growth.
The third quarter 2014 CEO Economic Outlook survey by the University of Richmond’s Robins School of Business and the Virginia Council of CEOs finds strong optimism among chief executives in central Virginia. The survey’s Economic Outlook Index, launched in mid-2010, reached an all-time high this quarter.
Says Scot McRoberts, executive director of the Virginia Council of CEOs, “These results are not surprising. With economic growth over 3 percent in three of the last four quarters, and a forecast of steady growth in 2015, CEOs are investing in the human and capital resources that will allow them to grow.”
Virginia CEOs Project Revenue, Spending and Staff to Increase Significantly in Next Six Months
Among the 65 chief executives of small and mid-sized companies participating in the survey this quarter, more than two-thirds expect their revenues to grow over the next six months, with 35.9 percent of respondents expecting revenues to climb by 11 percent or more. There was also a significant increase in the percentage of CEOs who expect to boost capital spending over the next six months, with 41.5 percent planning an increase this quarter compared to just 28.7 percent of respondents last quarter.
For the second consecutive quarter, respondents were asked whether finding, hiring and retaining talent was a significant issue; 78.5 percent of CEOs indicated it was a concern, an increase from 70 percent of respondents last quarter. According to the executives surveyed, the most difficult positions to fill are in operations, cited by 31 percent of respondents, and sales, cited by 23 percent of respondents. When asked how much their annual revenues might increase if their talent concerns were resolved, nearly three in four CEOs (72.5 percent) indicated they would experience growth of 11 percent or more.
The Virginia Council of CEOs and the Robins School jointly conduct the quarterly survey, which helps central Virginia companies anticipate business decisions and plan for growth. The Robins School adapted the survey from the Business Roundtable, an association of CEOs of American companies that conducts a similar survey nationally. Richard Coughlan, senior associate dean at the Robins School, administers the survey and collects the responses each quarter.
Survey Results
The following survey results from the second and third quarters of 2014 show projections for the next six months for sales, spending and employment:
Economic Outlook Index
The results also provide an overall economic outlook index, which is based on businesses’ projected six-month sales, spending and employment figures.
About the 2014, Third Quarter Robins School of Business / VACEOs Economic Survey
The Virginia Council of CEOs and the Robins School jointly conduct the quarterly survey, which helps central Virginia companies anticipate business decisions and plan for growth. The Robins School adapted the survey from the Business Roundtable, an association of CEOs of American companies that conducts a similar survey nationally. The Council and the Robins School collected responses from 63 CEOs in central Virginia. The median annual company revenue year-to-date for CEOs responding was $3 million. Multiple industries are represented in the sample (for example, construction, manufacturing, finance and insurance, and retail). The median number of full-time employees for responding companies in this survey was 22.
Request Results
The council continues to expand the survey beyond its members, offering any area business owners whose companies gross at least $1 million in annual revenue the opportunity to participate. If enough businesses participate, the council will provide survey results by industry. Participation is free, and all participants will receive copies of the survey data. Business owners and CEOs who would like to participate in the next survey should contact Scot McRoberts at smcroberts@vaceos.org.
About the Virginia Council of CEOs
The Virginia Council of CEOs is a nonprofit organization, whose mission is to connect the CEOs of second-stage companies so they can learn from each other and grow their businesses. Learn more at www.vaceos.org.
About the Robins School of Business
The Robins School of Business is the only fully accredited, top-ranked undergraduate business school that also is part of a top-ranked liberal arts university. Bloomberg Businessweek ranks both the Robins School’s undergraduate and part-time MBA programs among the top 30 in the country in their respective categories. The school’s executive education division offers open enrollment courses and customized leadership development programs for individuals and businesses.
# # #
VACEOs Members Make RVA and INC 5000 Lists
The Virginia Council of CEOs was founded in 2000 by a group of small business CEOs who sought to connect and learn from other CEOs in the area. The goal was to find a forum to comfortably test new ideas, get “unstuck,” and think differently about their business.
The Council has evolved from its initial membership of 25 to more than 170 CEOs today who participate in monthly roundtable discussions, quarterly luncheons, peer learning meetings, and annual retreats.
Our members represent a wide range of industries and experiences. They are movers and shakers, and their companies are frequently spotted the news. We found them most recently within two prestigious “fastest growing” company lists.
Imagine the possibilities and the hurdles you could overcome if you had an exclusive network of company leaders like these as your Think Tank! Visit VACEOs membership to learn more.
Sources:
RVA 25: Researched by: Keiter / Richmond BizSense Staff (http://www.richmondbizsense.com/lists/?djoPage=view_html&djoPid=32702&djoPY=@pf62GIklfcms)
Inc 5000: (http://www.inc.com/inc5000/list/2014)
Recent Comments