Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.
Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.
Below is our interview with Chris Lynde, CEO at SaleScout Data Solutions:
What does your company do?
SaleScout Data Solutions is a B2B sales intelligence and lead provider to companies including CenturyLink, Iron Mountain, Mitel, WeWork and RingCentral. Our data helps sales and marketing teams drive demand and accelerate sales across all stages of the funnel.
Our automated lead generation systems identify and alert customers to dozens of buying signals that occur daily. For example, executive changes, office relocations, lease terminations, M&A or funding events. We couple that with on-site technology by system type and brand to enhance targeting. Then, our research teams find and verify the key decisionmakers to ensure 100 percent accuracy before data is delivered. That's why companies come to us when they lack visibility into targeted accounts. We fill in the "white space," verify accuracy and keep records up-to-date. With B2B data decaying at a rate of more than 70 percent annually (source: John Coe), we solve a big problem for our customers.
What is your role? What do you enjoy most about your role?
I am the chief executive officer, reporting to our board of directors. I am ultimately responsible for driving shareholder value, leading our management team, growth strategy and corporate vision.
I really enjoy that my job challenges me every day. I build teams with people who are smarter than me, while putting my stamp on the culture and values of the organization. The one aspect of my job that I take most seriously is being an evangelist for honesty and integrity. It builds trust among team members, customers and shareholders, and it's the foundation on which loyalty is earned.
What are the biggest challenges in your business right now?
We have seen an extraordinary increase in the velocity, type and amount of data that is available through online channels. Raw data can be structured or not, and there's a lot of duplication that occurs. The challenge is to identify what's relevant, accurate and valuable to the customers we serve, in the verticals they sell and market to. This requires continuous tuning of our software and measurement of data performance by source and type. The goal is to identify businesses and decision makers that are ready to purchase enterprise technology, office equipment or services. That's the data our customers want - and our competitive advantage. We're able to not only provide the most accurate sales leads for our clients, but also the sales intelligence necessary to close those leads.
If you could go back in time, what business advice would you give to a younger version of yourself?
Listen to your instincts - that voice you know to be right and true, and don't sell yourself short. You are capable of much more than you know. Be fearless, but have the courage to walk away from the things that aren't working for you.