If it Doesn’t Produce Revenue, Does it Really Make Sense?

I’m certain every CEO or entrepreneur has pondered this very topic many times over until they truly figured out what makes sense.  But it’s not always that cut and dry.  There are many other factors to be considered besides producing revenue.

  • Philanthropy: Each year, I choose a charity for my company to contribute pro bono work to, which could mean everything from my staff and I volunteering to professional services that we offer to make projects more successful.  But I ensure that my decision is very strategic on the targeted charity, because once we are engaged, we are all in and not inclined to stretch ourselves to thin with multiple commitments.
  • Will my participation in this project make a significant difference? Whether it be a philanthropic endeavor, or the daily choice of who to confirm as a client or not, our main goal is measurable results.  We play to win, so if there are too many moving pieces that aren’t coming together cohesively, or if someone seems to be a “problem child” right away, it just doesn’t make sense.
  • Are there unrealistic expectations? Going back to the “problem child” issue, although it took a few years and coming out of the green phase to realize that you can’t sell people cotton candy dreams (big & fluffy on the outside, but they disintegrate to nothing once in your mouth) just because they want you to, and just because you feel that you may be able to fulfill the mission, I am now very blunt and honest about meeting and exceeding expectations.  Our company seeks to under sell and over deliver with each client.  However, no matter how big or small the check, if there are challenges that a potential client presents that will keep us from delivering on their requirements (budget, platform, controversy, etc.), then we give it to them straight from the beginning and continue to manage realistic goals throughout the engagement.
  • Will this adversely effect the brand I have worked to establish? Sometimes, it’s just not worth it.  There are some accounts, no matter how lucrative, that will never be a fit for our brand.  I truly believe in redemption, and we have helped a lot of clients that consumers and the public may see in a negative light.  However, as long as they were willing to do what it takes to turn over a new leaf, I am willing to offer the same grace as I would hope to receive myself.  But the moment their actions shift in a manner that is no longer feasible, we’re exiting stage left.

There are many times when I have made professional decisions based solely upon profits and the bottom line.  But as I evolve on my professional and personal journey, there is much more to be desired.

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About Candace Reese ~ The CEO Pundit™

With a reputation for challenging small visions and transforming them into global notoriety, Candace Reese is a nationally-recognized entrepreneur and inspirational speaker. Specializing in corporate and philanthropic strategy management, Reese has a strong track record in exceeding expectations. After several years in corporate and nonprofit public relations, marketing and advertising, Reese founded Envision Global Corporation to serve a diverse clientele list of individuals, organizations and corporate clientele by delivering leading-edge, innovative image building campaigns, with a global focus. Having an affinity for representing socially-conscious clientele, through Envision Global, Reese has managed projects and provided unlimited business and lifestyle resources to a plethora of distinguished entrepreneurs, executives and philanthropists who have been featured in national and international multi-media outlets, including online/digital media, nationally-syndicated radio and television broadcasts. To accommodate the growing needs of her global client base, Reese has launched EnviBlu Lifestyle Concierge; the travel, concierge and ground transportation vertical to Envision Global. Outside of her work with Envision Global, Reese’s passion lies in her public speaking and community initiatives. As a children’s advocate, she offers inspiring words to young men about etiquette and image, as well as young women on entering and maintaining healthy relationships. Reese also engages with entrepreneurs and business executives on leadership, marketing, public relations, professional etiquette, and effective, next-level business practices as an executive coach. Reese is a well-known supporter of local and national community organizations, being frequently tapped by nonprofit and religious organizations to strengthen their image and media strategies for initiatives, conferences and goal-oriented campaigns.
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2 Responses to If it Doesn’t Produce Revenue, Does it Really Make Sense?

  1. Candace I enjoyed your post. Especially that you’re strategic in the way you volunteer. When I first started my business, I was giving, giving. But found that my “one shots” really weren’t helpful enough.

    • Yes, you have to a very strategic thinker when it comes to balancing business & philanthropy. If you’re like me, the giving could overtake you, just because of a kind spirit. Thanks, Maria!

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