2013 CEO Retreat Recap
(Having trouble seeing video? Please refresh your browser.)
2013 Retreat Highlights, Takeaways, Videos
Rethink. Rework. Results. Right out of the gate our first speaker, Bill Taylor, founding editor of Fast Company Magazine, asked us to “embrace one of a kind ideas in a world of copy cats.” With that, the tone was perfectly set for our time together at Kingsmill Resort.
Between our opening and afternoon sessions, our members sparked our imagination and interest with twenty, 5 minute presentations — the topics were as varied as our members themselves. We heard about business strategies, employee woes and how to discover the best things in life. Clearly, we are a group of passionate souls embracing endeavors far beyond the business community in which we live.
If you missed the 2013 Retreat, or, if you are still recovering and want to relive the event, take heed. At the top of this page is a fast-paced, Retreat Day 1 video recap for you. I’ve also included one of the most popular Ignite presentations. (Day 2 and other Ignites are forth coming.) As Steve Kimball said, “Hold on to your hats, we’re going for a ride!”
Lastly, here are some of the key takeaways from our three workshops — I hope this information will rekindle your enthusiasm to RETHINK. REWORK and produce the RESULTS you desire.
Thanks again to everyone who attended. I’m already looking forward to next year’s event!
-Scot McRoberts
Executive Director, VACEOs
Bill Taylor, VACEOs Retreat Speaker, Founding Editor, Fast Company and Best-Selling Author.
Top 5 Takeaways
Bill Taylor Founding Editor, Fast Company.
Presentation: Change is the Name of the Game
1. The middle of the road is the road to nowhere.
2. Ask yourself: What is the core idea that defines / distinguishes my business? What is my sentence?
3. Now take it further: What is your sentence as a leader?
4. The most successful companies simply care more.
5. Successful companies in the future will a) Offer something that is hard to come by b) Embrace an idea c) Will be intensely human.
Top 5 Takeaways
Stuart Diamond, Author “Getting More.”
Presentation: Negotiate Your Way to Success
Stuart Diamond, VACEOs Retreat Speaker, leading expert on negotiation.
1. Negotiating pizza toppings is exactly the same as negotiating a billion dollar deal. The facts change, the process doesn’t.
2. People don’t expect to agree with you, but expect you to be straight with them.
3. If you are just talking money you are not a good negotiator. Ask yourself, what kind of intangibles can I find in this deal? How can I use this information to add value to this conversation?
4. Know your goals. Are your actions meeting your goals?
5. You are the least important person in the negotiation.
Sam Horn, VACEOs Retreat Speaker, marketing/branding expert.
Top 5 Takeaways
Sam Horn, marketing and branding expert
Presentation: What’s Your Sales & Marketing Story?
1. Brand story: a true, put ‘em in the scene example that resonates with your target audience because it shows what you are special at.
2. Avoid “info-besity” — marketing is about examples, not information.
3. Remember to WAVE when you tell your story: Who/where/when + Adversity + Victory + Emotion …. then hook and dovetail to the person you are speaking with!
4. Tackling or rethinking a new campaign or new product, think: Purpose, Person, Problem, Premise, Process, Pop!
5. Best way to corner a niche to create niche; best way to create a niche, coin your own word. Tip: Use Half/Half technique!
Virginia CEOs Report Economic Outlook in 2013 1st Quarter Survey
Robins School of Business –Virginia Council of CEOs survey finds CEO economic outlook index up for first time in three quarters.
The Robin School of Business / VACEOs Economic Survey projects an overall economic outlook index, which is based on businesses’ projected six-month sales, spending and employment figures.
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 Jeff Pollack, assistant professor of management 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. This quarter the survey reveals the outlook index is on the rise for the first time in three quarters.
Says Scot McRoberts, executive director of the Virginia Council of CEOs, “We finally have some good news to report! This data reflects what many of the CEOs I work with tell me—they are as busy as they have been in years.”
VA CEOs Economic Performance for 1st Quarter, 2013
Among the executives of small and mid-sized companies participating in the survey, 64 percent anticipate an increase in sales, up 5.8 percent from last quarter. Expected capital spending has increased 3.7 percent from last quarter to 29.3 percent. Employment expectancies also increased to 53.3 percent, up from 44 percent last quarter.
Says Scot McRoberts, executive director of the Virginia Council of CEOs, “When I look at our survey’s results and listen to the challenges facing small company CEOs, I’m not surprised that there is an increase in the hiring percentage. I am hearing a lot about competition for talent in our market.”
Business Performance Results
The survey also found staffing and financial issues, along with growth and economic uncertainty to be the most significant issues CEOs currently face. Some 29.7 percent of CEOs said their business performed about as expected over the past six months, with 14.9 percent saying performance was mostly better than expected, up 6.5 percent from the fourth quarter survey.
“We see in these data a departure from the previous trend of declining optimism—here, anticipated sales, projected capital spending, as well as employment growth are all more positive, relative to Q4 of 2012. And, the overall outlook index is up dramatically compared to Q4 2012,” said Jeff Pollack, assistant professor of management at the Robins School, who calculated the results. “Staffing issues, financial issues and too slow growth are the top three areas of concerns noted by the current sample of CEOs.”
About the 2013, 1st Quarter Robins School of Business / VACEOs Economic Survey
The Quarterly Outlook Survey is conducted jointly by the Virginia Council of CEOs and University of Richmond’s Robins School of Business and is an adaption of the national Business Roundtable survey conducted by an association of CEOs of American companies.
This quarters results were based on the collected responses from 75 CEOs in central Virginia. The average annual revenue year-to-date for CEOs responding was $10.8 million. The data were compared to the fourth quarter 2012 of 91 participants. Multiple industries are represented in the sample (for example, construction, manufacturing, finance and insurance, and retail).
The results also provide an overall economic outlook index, which is based on businesses’ projected six-month sales, spending and employment figures.
Request Results
The VA Council of CEOs 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.
What’s Your Safe Haven?
Most of us have one. It may be a river house, an out of the way coffee shop, or just running. Mine is on the river in a canoe or kayak. Even when I take the kids with me, there is something about being part of the flow that recharges me and gives me clarity.
At the Council, we have a very special culture we call “Safe Haven.” It starts in each CEO’s roundtable or forum, where it is clear that we are there to learn from and help each other in an atmosphere of confidentiality and mutual respect. But Safe Haven extends to the larger Council community – now over 160 CEOs and 30 sponsors – where you may end up at lunch with someone you have never met, but you have the mutual understanding that this is not a sales opportunity, but a chance to start learning from one another.
We are proud of this unique culture that gives CEOs a much-needed safe haven. It allows us to connect in meaningful ways, learn from others’ experiences, and get clarity in a complicated world.
Virginia CEOs Report Economic Outlook in 2012 4th Quarter Survey
Robins School of Business –Virginia Council of CEOs survey finds economic uncertainty, slow growth and staffing issues the top three areas of concern heading into 2013.
The Robin School of Business / VACEOs Economic Survey projects an overall economic outlook index, which is based on businesses’ projected six-month sales, spending and employment figures.
[January 18, 2013.] 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 Jeff Pollack, assistant professor of management 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.This quarter the survey reveals the outlook index is now dropping compared to last quarter.
Says Scot McRoberts, executive director of the Virginia Council of CEOs, “Most of the small business CEOs I work with express optimism in spite of this gloomy data. I think it may be their new reality — expect the worst and outperform expectations.”
VA CEOs Economic Performance for 4th Quarter, 2012
Out of the top executives of small and mid-sized companies participating in the survey, 58.2 percent anticipate a smaller increase in sales, down 3.6 percent from the third quarter. The results also show that only 25.6 percent of CEOs expect an increase in capital spending, down from 31.7 percent last quarter. The one piece of optimism in the survey showed that 44 percent expect employment to increase, up 2.6 percent in the third quarter.
“The results of the fourth quarter CEO survey reflect uncertainty in the economy. Firms were more likely to keep capital spending unchanged in the fourth quarter, perhaps waiting for uncertainty about the election and the fiscal cliff to be resolved. The overall economic outlook index was the lowest it has been since the second quarter of 2011,” said Dean Croushore, professor of economics at the Robins School.
Business Performance Results
The survey also found rising healthcare costs and economic uncertainty to be the most significant issues CEOs are currently facing. Of business performance in the past six months, 38.6 percent of CEOs said their business performed about as expected, with 26.5 percent saying performance was somewhat better than expected, up 4.5 percent from the last survey.
“Relative to the third quarter, anticipated sales and capital spending growth are both down,” said Jeff Pollack, assistant professor of management at the Robins School, who calculated the results. “We saw a sharp increase in the perception that no change in capital spending will occur in the next six months, but employment growth, relative to the third quarter, is up slightly. Economic uncertainty, to slow growth, and staffing issues are the top three areas of concerns noted by the current sample of CEOs.”
About the 2012, 4th Quarter Robins School of Business / VACEOs Economic Survey
The Quarterly Outlook Survey is conducted jointly by the Virginia Council of CEOs and University of Richmond’s Robins School of Business and is an adaption of the national Business Roundtable survey conducted by an association of CEOs of American companies.
This quarters results were based on the collected responses from 91 CEOs in central Virginia. The average annual revenue year-to-date for CEOs responding was $7.97 million. The data were compared to the third quarter 2012 of 90 participants. Multiple industries are represented in the sample (for example, construction, manufacturing, finance and insurance, and retail).
The results also provide an overall economic outlook index, which is based on businesses’ projected six-month sales, spending and employment figures.
Request Results
The VA Council of CEOs 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 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 20 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.
About The Virginia Council of CEOs
The Virginia Council of CEOs (VACEOs) 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.
VACEOS Member Eric Sundberg, President Southern Electronics: Leader, Futurist.
(Trouble seeing video? Please refresh screen.)
Eric Sundberg is a self-proclaimed futurist with an astute “fix it gene” and a fondness for travel. He is tall, thin, and is as equally intense about his work as he is about his love for his giant german shepherd, King, who lounges causally in his office. His business is conducted primarily with others outside of the state, yet he is committed to the development of the Richmond area’s youth.
As a member of the VACEOS, he often shares his experience during confidential roundtable discussions with his peers. Today, we find out about his business vision, how he gives back to the community, and what one piece of advice he has for young entrepreneurs.
About Virginia CEO, Eric Sundberg
Eric proved at an early age to be a hard worker and a leader, not a follower. By 14 he was recruiting kids for his newspaper route and acting as the crew chief for a local swimming pool installation company.
He worked his way through college at a Richmond audio repair shop. By 25 he was ready to be the boss. In that year,1989, he started his own car radio repair business — Southern Autotronics. His company quickly morphed into a $9M, 8-store chain servicing warranties for General Motors, Ford and Chrysler until 2001.
Eric says, “I always had the fix it gene. I took things apart like most kids, but I could put things back together. As I matured I was drawn to the complexity and volume of the auto radio repair work.”
When the warranty work for the major auto manufacturers moved to Mexico, Eric shifted focus and saw a future in GPS systems. About his second business venture, Navtronix, he says, “I’ve always been a futurist, good at anticipating technology advances and opportunities. I am often though, 10 years ahead of my time. Like with navigation. I had to wait for market acceptance of the products, and the price dropped out — not so much with repair which has always been strong.”
Eric went back to his repair roots and started another company, Southern Electronics, Inc. Southern Auto Electronics focuses on dashboard and radio repairs. Its commercial clients include various government and school systems, garages and car dealerships around the world. He also has a solid base of end users who rely on his services.
He reports 80% of his business comes from the web; no doubt a testament to his foresight to start a domain business, and while he was at it, secure names like CarRadio.com, SpeedometerRemoval.com and InstrumentClusterRepair.com for himself.
Live and Die by the Web… and UPS
Eric reports, “One of the secrets to my success is that I found a high-priced, high-value electronics products with a long life for repair. My lifeblood is the web and UPS.”
He has a total of six websites that drive business to his doorstep, and while the complexity of a car’s electronic system has increased, it has also has become self-contained and modular.
Eric explains, “Over the years I often worried that the car radio would one day be a throw away item and the factory would try to replace it. Luckily I was wrong. One reason was the fact that the complexity of the radio has increased over time. What started as simply AM, became an AM/FM, then an 8-track, then a radio cassette, CD and now, a navigation system. The complexity of the content of the radio system has gone up. It justifies the expense of repairing it.”
These days, the car’s radio and navigation system is specifically fitted inside the center console and it’s modular, making it very shippable. As such, Eric’s business has evolved to complete dashboard and instrument cluster repair. He explains, “I also started repairing instrument clusters and speedometers because they are essential components to keep the car or truck on the road. They must be in working order.”
His work is not based on factory manuals or warranty guides, but on his will to fix it and his research skills. He says, “Everything we do here is reverse engineering. My job here is to locate repair parts or techniques to repair components that are failing in high value and/or high volume cars. Like for example, figuring out where to find parts for an unreadable displays on a Mercedes or Audi.” (Answer: Japan.)
Eric points out that his business is based on trust, and even without his strong web presence and business model, it’s his companies hands-on approach to customer service and his 100% satisfaction motto that are the real foundation of his success.
Giving Back
Eric Sundberg has a multi-million dollar electronics business, a thriving domain name business, six websites to manage and a strong desire to travel around the world. To keep up, he’s an early riser and a reader. (Up at 4am; over 30 science and technology publications.)
In his spare time he mentors young adults who show an interest in electronics as well as those who compete in the FIRST® Robotics Competitions. Of the national competition, he says, “Robots are a vehicle to teach kids about teamwork and how to work, experiment, use hand tools and solve problems and interact with adults — the type of skills they will need when they enter into the workforce.”
His next venture is not business-related, but focused toward the community. By this time next year he hopes to pilot an elementary school, after hours science discovery program for underprivileged, gifted students.
One Piece of Advice for Entrepreneurs
Eric has been involved in repairing automobile electronics for over 44 years. When asked what one piece of advice he would offer a startup, he doesn’t hesitate. “Locate a problem that needs solved. Find a niche business that others can’t do easily… [something] that is going to be ongoing and sustainable.”
Eric Sundberg has been an active member of the Virginia Council of CEOs since 2007. He is one of over 160 members who welcome the opportunity to share their business knowledge and concerns each month during member roundtable discussions. To learn more, visit the Virginia Council of CEOS YouTube page or VACEOS website today.