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 Leslie Swanson, Founder and CEO at eXalt Solutions:
What does your company do?
Our company makes a patented AI-based platform to dramatically improve business-to-business (B2B) sales. Our philosophy is Better Together - making every customer interaction richer and faster. We use AI rules-based digital advisors for the front office to make buyers and sales teams smarter, and digital administrators for the back office to cut repetitive tasks. Ultimately, we aim to be the best friend of sales teams by helping them to sell more, more profitably. We are leaders in the B2B sales space because it is a complex environment in which we have extensive experience.
What is your role? What do you enjoy most about your role?
I’m the CEO of eXalt Solutions. Our company is positioned in the middle of one of the largest disruptions in history with Digital Transformation and AI. I thrive on change and am passionate about remaking our own business and our customers’ businesses with the latest technology. My role is energizing because I get to work with innovators who are changing business and sales processes as technology changes. What really makes me excited is knowing that eXalt is helping change the future of B2B sales as we know it.
What are the biggest challenges in your business right now?
The biggest challenge we are experiencing right now is helping our customers understand that they don’t have a couple of years to figure out how to use AI and digitally transform their business. We have to get our customers to stop doing “business as usual” and act now. It is critical that companies take action this year to leverage AI to create frictionless customer experiences and agile back office processes. The other challenge in our business is constantly adapting our solution with the latest technology and processes because our industry moves quickly.
If you could go back in time, what business advice would you give to a younger version of yourself?
Literally remake your company every two years. As business processes are made digital they become subject to Moore’s Law - where performance doubles every two years. This means you must tear down and remake aspects of your business routinely with newer technology. Don’t worry about failure, it’s a part of innovation. Risk taking must be encouraged. Don’t expect things to go perfectly. Cultivate a “fail fast” culture. Quickly determine what works and what doesn’t and move on. The pace of today’s business is many times faster than just a decade ago and there is only going to be the quick and the dead.