5 Ways to Keep your Competitive Advantage as an Executive
Staying competitive is essential for a successful executive career. Being one step ahead of your competition ensures that opportunities will land in your lap rather than your competitors. Maintaining a competitive advantage will increase your chances of being promoted and headhunted. This post looks at how you can be competitive in a positive way.
Keep your Shareholders Happy
Shareholders have a natural interest in the business and keeping them on board and showing good returns on their investment is vital. It is a good idea to keep dialogue open with shareholders, involving them in the decision-making process as much as possible.
When taking on a project, always factor in shareholder and management objectives. To this end developing incentive plans to ensure shareholder objectives is advisable. Maximising free cash flow is always the prime objective, and this should be factored in when evaluating opportunities.
Linked to the above and goes without saying really, but you have to be good at your job. If you think of yourself as a brand then you’re on the right lines. You should aim to generate feelings of trust, reliability, and that you know your stuff among senior management in particular. The more you can learn and the more you implement successfully, the better equipped you will be to master challenges.
Take on Responsibility and Challenges
All companies love executives that do not shy away from big challenges and responsibility. Stepping up when called for shows that you have what it takes to lead. Stepping up when others are looking to step back will make you stand out positively among your peers.
Positive attitudes are actually just as infections as negative ones, and when the pressure is on, keeping a smile on your face will keep you in good stead. It will also help you focus on the project rather than your own negative feelings and you will perform better.
Producing a blog and social media updates about your achievements and projects is a great way to demonstrate your industry and job knowledge. You will probably become a brand ambassador for your company as well, which in itself can’t do your promotion prospects any harm.
Executives that regularly show what they can do through blogging are already ahead of those that don’t. Recruiters, headhunters, hiring managers will trawl the web finding out information about you before they choose to work with you. Having your achievement and know-how easily accessible will give you a significant edge.
You can also refer people to your blog when applying for new jobs.