Harness the Momentum of Revenue Operations: Unify Marketing, Sales, and Customer Success

Fostering revenue growth is now a team effort rather than the sole job of the sales team. It’s helpful to visualize revenue growth as a bucket – marketing opens the tap, sales fill it up, and customer success ensures no leaks from the bottom. It’s a balanced process, a harmonious symphony.

Progressive organizations have reimagined their revenue-generating functions – Marketing, Sales, and Customer Success – as a coordinated, cohesive powerhouse. Moving beyond the age-old attempts to “align the sales and marketing teams,” companies increasingly understand that the best way to drive revenue is to improve every aspect of a customer’s journey. How a company attracts prospective customers (marketing), wins over new customers (sales), and then enables and ultimately retains customers (customer success) is the ultimate formula for growing revenue.

For validation of this approach, look no further than your television. Subscription services like Netflix have rocketed to growth by understanding that getting a customer’s interest is only the beginning of the revenue journey. Gaining a subscription and keeping that customer from unsubscribing are crucial pieces of the revenue puzzle. With B2B firms now focusing on the total revenue picture in much the same way, a new function has emerged—Revenue Operations (RevOps). RevOps aligns the revenue functions, fostering collaboration and optimizing the overall revenue-generating journey.

In this blog post, the first of a series, we will serve you a triple treat – the consolidated wisdom of three veterans of the essential revenue functions. With over 50 years of collective experience leading Marketing, Sales and Customer Success organizations, our authors are now collaborating with dozens of clients to build and improve their RevOps functionalities. Through the prism of each revenue function, we’ll unveil how to morph these historically siloed organizations into a dynamic, high-performing RevOps entity. To start off, let’s outline what we believe to be the six key areas of focus for any great RevOps team.

1. Metrics: The North Star of Revenue Operations

At the heart of RevOps lies the use of comprehensive and meaningful metrics. By establishing shared key performance indicators (KPIs) across marketing, sales, and customer success teams, RevOps instills a unified vision of success. These metrics include revenue, customer acquisition cost (CAC), customer lifetime value (CLTV), conversion rates, and other performance indicators that provide actionable insights for informed decision-making.

2. Process & Methodologies

RevOps advocates for the standardization and optimization of revenue-generating processes. It involves mapping the buyer’s journey, identifying friction points, and implementing streamlined workflows to enhance efficiency and collaboration. By aligning processes, such as lead management, opportunity tracking, and customer onboarding, RevOps eliminates silos and ensures a seamless experience for customers across all touchpoints.

3. The Revenue Tech Stack

RevOps leverages technology to empower teams and drive revenue growth. The revenue tech stack comprises a suite of tools, such as customer relationship management (CRM) systems, marketing automation platforms, sales enablement software, analytics, customer engagement tools, and more. Integrating these technologies enables data-driven decision-making, automates repetitive tasks, and provides the overall revenue organization with vital insights to propel revenue.

4. Training & Enablement

RevOps recognizes the importance of equipping teams with the right skills and knowledge to excel in their roles. Training and enablement programs ensure that marketing, sales, and customer success professionals have a thorough understanding of their customers, products, processes, and the tools at their disposal, fostering collaboration, adaptability, and consistent value delivery to customers.

5. Customer Messaging Alignment

Synchronizing customer messaging across marketing, sales, and customer success teams ensures a cohesive and seamless experience for customers at every touchpoint. This alignment enables teams to deliver targeted and personalized content, understand customer needs, and address pain points effectively, resulting in increased customer satisfaction and loyalty.

6. Continuous Improvement Programs

Mature RevOps teams emphasize a culture of continuous improvement. By anchoring on key metrics, organizations can identify areas for enhancement, iterate on processes, and experiment with new strategies. Continuous improvement programs encourage cross-functional collaboration and empower teams to test and implement innovative ideas that optimize revenue generation and customer experiences.

By focusing on the six key elements—Metrics, Process & Methodologies, the Revenue Tech Stack, Training & Enablement, Customer Messaging Alignment, and Continuous Improvement Programs—businesses can unlock greater synergy, improved customer experiences, and accelerated revenue growth. Embracing Revenue Operations is a strategic game-changer that propels companies to the forefront of today’s competitive landscape, enabling them to flourish in an increasingly customer-centric and data-driven world.

At TechCXO, we boast the expertise and experience to guide you in building or enhancing your RevOps functionality. If you’re intrigued to learn more about our approach and service offerings, please click here to schedule a 30-minute discussion with one of our experts. We’re excited to connect with you!

TechCXO Celebrates 20th Anniversary

TechCXO Celebrates 20 Years of Revolutionizing Executive Leadership On Demand

The Pioneer in Fractional, Part-Time and Interim Executive Services Has Served More than 7,000 Clients and Supported Over $6B in Transactions

ATLANTA, GA (June 13, 2023) –TechCXO, the leading provider of part-time, fractional, and interim executive leadership to fast-growing companies, is proud to announce its 20th-anniversary celebration. Since its founding in 2003, TechCXO has been at the forefront of providing proven executives with the expertise and experience needed to drive growth and success for its clients.

“TechCXO has been changing the game in fractional executive leadership for two decades, and we are thrilled to mark this milestone,” said Kent Elmer, Managing Partner of TechCXO. “Our team of experienced operational executives has helped countless companies achieve their growth goals, and we look forward to continuing to provide innovative solutions for our clients.”

TechCXO was founded in 2003 on the premise that companies can benefit from having the best executive talent available and serving as their CFOs, CTOs, CSOs, CMOs, CROs, COOs, CHROs and other executives on a part-time or project basis. Companies might not otherwise be able to access the talent and experience level of a TechCXO partner and teams due to cost or availability.

TechCXO has assisted more than 7,000 clients in its history. In addition to executive support, companies can also outsource their entire Finance, Sales & Marketing, IT, HR and Operations functions to TechCXO for 50-75% less than it costs to staff full-time, loaded salaries. All TechCXO partners and staff are U.S. and U.K.-based.

Earlier this year, TechCXO announced that it has surpassed $50 million in annual service fees in 2022. The firm is poised to continue its growth trajectory and has put in place its new regional leadership team.

In March of this year, TechCXO introduced CXO Partners, a new services firm specifically focused on providing accomplished interim executives to middle market companies in the $30M-$500M-plus range.

Mike Casey, TechCXO’s co-founder and Managing Partner – Finance, is leading CXO Partners as its new Managing Partner. The CXO Partners leadership team has accomplished operating partners serving as interim C-suite executives for the middle-market.

About TechCXO
TechCXO is a pioneer in providing high-potential companies across the country with industry-relevant interim, part-time and fractional executives on-demand. More than 7,000 companies, from startups to the Global 1000, have entrusted TechCXO to help with their critical functions by calling on TechCXO executives as their CFOs, CEOs, COOs, CSO, CROs, CTOs, CMOs, CHROs and other executive roles. TechCXO’s major practice areas are: Finance & Accounting, Product & Technology, Revenue Growth, Human Capital and Executive Operations. For more information about the firm, please visit https://www.techcxo.com

Focus On Your MVA: Minimum Viable AUDIENCE

Founders and product leaders at startups and early-stage companies know all about the need to build MVPs — minimum viable products — at the beginning stages of their company trajectories. Before loading on additional benefits and use cases, start with a version of your product with just enough features to be attractive to and usable by a specific early customer. This helps validate your product, create initial revenue, and develop a feedback loop for insights to guide future product evolution opportunities. Focus your efforts on the MVP, make it successful, and then start building and scaling.

So why do so many of these early-stage companies take the opposite approach to the segmentation and marketing of their products? I can’t tell you how many times I have seen companies in these early phases targeting their product to multiple disparate audiences. They throw them all against the wall and see what sticks, adding varied audiences to their pitch decks, their website, and their collateral.

For example, I’ve worked with healthcare start-ups that target providers, patients, payors, employers, and beyond — all at once. It’s almost easier to identify whoM they don’t target vs. who they do.

Now, you might think it makes sense to appeal to as many different types of customers as you can at first to keep your options open and to see what works. Or that excluding anyone who might be interested in your product would mean losing a potential sale.

But the truth is, this un-focused approach creates a number of big problems.

Firstly, to put it bluntly, it’s a lazy approach to strategy. Being strategic is all about making choices about your actions. As economic theorist Michael Porter says, the essence of strategy is choosing what not to do. By choosing not to choose, you’re not being strategic.

Secondly, different audiences will have different needs, preferences, and customer journeys — so a one-size-fits-all approach will fail.

It’s unlikely that early-stage companies can take the time to fully understand these different consumers. But it’s especially unlikely they can create different types of messaging and offerings to get all these different types of consumers to consider and buy from them.

Which leads to the last, and most important problem this unfocused targeting approach creates: It diffuses a company’s already limited and strained resources. Because both time and money are especially scant, developing strategies and assets for multiple audiences is likely unaffordable.

Instead, startups should begin by focusing on MVAs: minimum viable audiences. Identify the best target for your product who can help you begin to build your business. This is the group that represents the most attractive segment, which can be accessed most easily with your current product and company, and that offers enough revenue to grow the business.

Then ruthlessly learn about, understand, and build a marketing system to engage your MVA. And for now, disregard the multiple different audiences who could also be targeted, just as you have the myriad other attributes you could have added to your MVP. With this strategic prioritization, you are ready to drive more powerful and effective marketing and revenue generation.

Email Michael | LinkedIn | Download Michael’s CV (PDF)

Celebrating TechCXO’s Female Leaders

Celebrating TechCXO’s
Female Leaders

Nicole Siokis – COO

I started my career in the US Army, clearly a male-dominated profession, where I often found myself to be one of very few women in the room. With women making up less than 20% of our armed forces, it was never lost on me that there were trailblazers who had come before me, who fought hard so that I, too, could serve my country. Since leaving the military, I have been fortunate to be surrounded by strong, smart women who lifted each other up and who reached out a hand to help other women climb the ladder alongside them. These women I know push boundaries, speak up and speak out. They have a valiant spirit that all of us should pass on to future generations of young, professional women.

Maria Goldsholl – Managing Partner CHRO

For me, the most rewarding opportunities were unplanned opportunities that I was curious about. Sometimes those opportunities weren’t a straight lineup, nor were they in my “plan.” In some cases, I took a step back in pay, industry, or title to get experience in something I was interested in or out of necessity. So while it is great to have a plan and work that plan, my advice is to stay open and curious to things outside of your plan because they may end up being better than anything you could have imagined. Get comfortable with risk and have confidence that you will make any new experience work. See your career as non-linear or a series of squiggly lines that gets you exposure and breath to learn and grow. I would also say to be trustworthy and give generously when you can without expecting anything in return. I am a big believer in career Karma.

Rose Lee – Managing Partner – CMO, CCO

Being a woman in the technology industry can be challenging at times, as it is a male-dominated field with certain stereotypes and biases that can create barriers to entry and career advancement. At times, it is necessary to consistently work smarter and harder to achieve my goals. With the support of mentors, allies, and advocates, women can overcome obstacles and succeed in the technology industry, paving the way for future generations of women to follow in our footsteps.

Karen Reynolds – CFO

At one point in my business career, I had a female peer challenge me to get out of my comfort zone. That push taught me not to limit myself, and it allowed me to gain confidence through new experiences. Let’s continue to provide a “push” to the female professionals in our lives to get out of their comfort zone and do the unexpected – their future achievements will be limitless.

Jessica Young – COO

During the formative decades of my career, I witnessed a significant era of progress for women in leadership. Opportunities, culture, and professional norms have all undergone significant shifts, and as we celebrate “history” months and days, it is important to reflect on that past but also raise our gaze to the future. Personally, I find inspiration in speaking with young women who are just starting their academic and professional journeys. They are entering a world that we could only imagine thirty years ago, equipped with a diverse set of tools, language, and resources we did not always have. So, when they lift their gaze to tomorrow, I pay attention: it fills me with hope to glimpse the workplace they are imagining today that my daughter will one day join and it’s an honor to help them build it.

Amanda Donnelly – CMO

While marketing tends to skew female, I’ve worked in male-dominated spaces my entire career. I’ve had the experience of being quite literally the only woman in the room more times than I can count. Fortunately, the dynamic continues to shift, but access to resources as basic as encouraging girls to explore math, science, and technology is still a challenge in many communities. This is why I focus many of my engagements on female and minority-owned businesses. Knowing that access to resources is one of the biggest barriers to entry within these groups, offering my services and guidance as someone who has “been there” for female founders is core to my personal and professional values. We have to lift each other up to thrive.

Katie Reilly – CPO

Being a woman in technology can be tough at times. I encourage young professionals to lean on (and learn from) the amazing women who have paved successful career paths before us! I am a strong supporter of mentorship programs. I truly value the impact my first mentor had on my career, and I cherish opportunities to coach and mentor others just getting started as a way to pay it forward. Mentorship helps break down barriers and women in business are an unstoppable force!

Kerri Anthony – CHRO

Throughout my 20+ year career, I have been given the gift of working with truly incredible female leaders and mentors (you know who you are). They’ve profoundly shaped how I work and how I live, and I am forever grateful for their guidance. It’s always a good time to reflect on those people in our lives who’ve inspired change, broken barriers, and invested in other women. But Women’s History Month is perhaps an ideal moment to remind ourselves to make time to nourish relationships with other women, to invest in them, to encourage and inspire them, and to lift them up. We are in this together and we can do amazing things when we support each other.

Questions? Call Us or Email

If you’ve never outsourced or used executives on demand before, you’re sure to have a lot of questions. Don’t worry, we’re more than happy to answer them all.
And we know everything there is to know about this unique model. Schedule a call with us or send an email now.

Fractional Executives During Crisis

During A Crisis, Your Fractional CFO Morphs into a Platoon of Experts

With the right firm, fractional executives quickly extend expertise exponentially

TechCXO and The SVB and PPP Use Cases

In crisis, conflicting information, rumors, speculation — even panic — reign. The ability to find reliable, actionable information is at a premium. In a fractional executive model, a business can quickly turn a quarter or half of a CFO, COO or CTO into 50 experienced, coordinated executives.

SVB & 40 Hours

The Silicon Valley Bank collapse happened in less than 40 hours. On the night of Wednesday, March 8, SVB publicly announced it was seeking capital to stem concerns about liquidity. By Noon of March 10, federal regulators informed the market and public that SVB had failed and was placed into receivership.

If you banked with SVB or knew someone who did, you knew the mad scramble and chaos that ensued by senior executive teams, CFOs, Controllers and Boards in those days to (1) Get a balance statement of how much was held there, particularly if it exceeded the $250,000 FDIC protection limit; (2) Find another institution willing to quickly secure your money in a new account; and (3) Get money wired out of the failing banks and into the new institution(s).

The cost benefits of a fractional executive are well known. What’s less well appreciated is how an organization such as TechCXO can exponentially increase access to expertise, information, and connections quickly

At the height of the crisis, conflicting information about slowed down or shut down wire out processes was swirling. There were rumors of FDIC and Federal Reserve intervention, loan deals from “white knights” to rescue SVB and shore up depositors, liquidation of SVB’s Treasury Securities to serve as a dividend for depositors, and even an FDIC portal and hotline to file claims. During all this, trading on First Republic, Signature Bank and Western Alliance halted, adding to the nervousness of full-on banking and financial systems meltdown.

Within hours, TechCXO’s 50+ CFOs from around the country had solid, actionable information, and were quickly separating rumor from fact, including:

VCs and the LPs (Limited Partners) for many tech portfolio companies were indeed having difficulties with wire out processes. Loan deals in process were likely at risk.
Reliable sources said plans to raise capital to save SVB were not successful
Updates regarding FDIC phone numbers and claims portal, along with instructions
Options to diversify to a secondary bank or to secure a new primary bank were recommended, including reliable references and contact info for specific representatives.
Real-time updates related to accessing accounts and the status of wire payments, as well as alternative platforms in FinTech and Cryptocurrency, such as Bitcoin.
Posted warnings about fraudulent SVB websites
Even supplemental state-led insurance options above FDIC backstops were provided.

The Benefits of Connected, Networked Executives

The benefits of fractional executives in terms of cost savings is well-known, as are the perks of accessing a higher-level of executive talent than your organization might warrant in early stages. What’s less well appreciated is how an organization such as TechCXO can exponentially increase access to expertise, information, and connections quickly.

TechCXO CFO Partners quickly formed a Slack channel and a division of labor to gather information and filter it through a subgroup to be disseminated to all partners. It accessed its vast network of bankers, VCs and PE partners, accountants, company executives, lawyers and others to settle on a reliable set of facts from which to act. Even a large, enterprise-level companies that are well staffed don’t have this level of experienced C-suite executives that the TechCXO partnership represents. Also, new entrants to fractional and interim executive resources, such as large Executive Search firms, don’t have this connected, collegial bench of executives from which to draw knowledge.

PPP As Training Ground

TechCXO had been here before during the COVID outbreak and the subsequent opportunity — and confusion — surrounding The CARES Act Paycheck Protection Program (“PPP”) or 7(a) loans program, as well as the The Small Business Association’s Economic Injury Disaster Loan (EIDL) program, which provided small businesses with working capital loans of up to $2 million.

Similarly, there was much confusion about eligibility, requirements, and restrictions in a constrained time period. Then, as today, TechCXO pooled its intellectual capital and experience to quickly and reliably guide clients through the fog. One product was the decision tree (see graphic) that TechCXO provided its clients, vendors, partners, and colleagues to guide them through programs that were proper for them.

50 for the Price of 1/2

Fractional executives always make sense in times of recession, inflation, labor shortages and fast growth for accessing talent, realizing savings, and gaining efficiency. In times of crisis, accessing a platoon of proven, experienced executives through your one on-demand executive relationship may hold the greatest value of all.

Navigating the Complexities of Mergers & Acquisitions with Fractional Executives

Mergers and acquisitions (M&A) are complex transactions that involve the combining of two companies. While increasing market share is often cited as a primary reason for M&A activities, these transactions can sometimes fall short of this goal. Mergers and acquisitions fail for a variety of reasons, including cultural difference, integration issues, and strategic misalignment.

Cultural Differences

When two companies merge, there may be significant differences in the corporate cultures and values of the organizations. This can lead to conflicts and difficulty in integrating the two entities, resulting in a lack of collaboration and a failure to achieve the desired synergies.

For example, consider Google’s acquisition of Nest. Nest had a culture that was top-down driven with a visionary and vocal CEO. Google’s culture is more product-centric and bottom-up. It is known for giving engineers autonomy to experiment. To further complicate matters, Nest’s acquisition of Dropcam also resulted in cultural clashes. Ultimately, these culture issues led to the departure of Nest’s CEO.

Fractional C-suite executives are both insiders and outsiders at the same time. They are fully on board with the client’s executive team and leading their functional area of expertise. In this way, they are insiders. But, as newbies to an organization, they bring a fresh outside perspective to team dynamics. Fractional CXOs do not bring preconceived expectations from either side of a company merger, so their outside perspective allows them to identify concerns, drive collaborative solutions and head off cultural team derailments.

Integration Issues

Merging two companies requires significant effort and resources to integrate the operations, systems, processes and people of the two organizations. If the integration process is poorly managed, it can result in disruptions to business operations and customer service, leading to dissatisfaction among employees, customers, and shareholders.

A third-party assessment used to either derive or review an M&A integration plan can help fuel desired business outcomes. Business leaders, such as fractional C-suite executives, who have “been there, done that” offer an informed viewpoint and add value from due diligence to post-merger integration.

Strategic Misalignment

M&A activities require careful consideration of the strategic goals and objectives of both companies. If the strategic goals and objectives of the two companies are not aligned, it can result in a failure to achieve the desired synergies and increased market share between the two organizations.

Consider, for example, Unilever’s acquisition of Dollar Shave Club. Dollar Shave Club had sales of $152 million before Unilever paid $1 billion to purchase the company. Unilever did not have knowledge of the category before buying the company as it did not have a razor product. As the acquiring company, Unilever expected to sell more of its products direct-to-consumer, based on Dollar Shave Club’s success in the channel. The company also expected to sell more of its non-razor products to Dollar Shave Club customers. Neither of these things happened at the pace Unilever anticipated.

Experienced fractional executives can help evaluate sourcing goals and mitigate strategic misalignment. Such leaders often bring a perspective from multiple industries and can provide a vision on the future of each. It is safe to say that Unilever would have benefit from a stronger DTC business leader’s perspective that did not come from inside Dollar Shave Club. Such knowledge could have aided Unilever in setting expectations and informing its acquisition price.

Overall, M&A activities can be complex and require careful planning, execution, and integration to achieve the desired benefits. Failure to address the challenges and risks associated with M&A activities can result in significant financial losses and a failure to achieve the intended strategic objectives. Fortunately, fractional C-level executives are accessible to lower middle market and larger companies to help navigate the complexities of M&A from sourcing to post-merge integration.

Email Katherine | LinkedIN | 626-344-8730 | Download Katherine’s CV (PDF) | Twitter

TechCXO Introduces CXO Partners

Interim Executive Services Firm to Serve Middle Market

ATLANTA, March 9, 2023 – TechCXO®, a pioneer and leading provider of industry-relevant, part-time and fractional executives and teams, today introduced CXO Partners, a new services firm specifically focused on providing accomplished interim executives to middle market companies in the $30M-$500M-plus range. Mike Casey, TechCXO’s co-founder and Managing Partner – Finance, will lead CXO Partners as its new Managing Partner. The CXO Partners leadership team also includes Dean Brown, Managing Partner for the Information Technology practice, and Maher Maamari, Managing Partner for the Growth and Executive Operations practice.

“CXO Partners is a natural extension of TechCXO services. Many times we’ve had inquiries from private equity firms and companies needing full-time, interim executive leadership. CXO Partners will fill that need,” said Mike Casey. “The first person I thought of to join CXO Partners was Maher Maamari. Maher is a unique talent. He can create new opportunities and scale smaller organizations quickly, and he has a great record in strategically pivoting larger enterprises toward better markets, products and results. Maher’s reputation for impactful leadership is stellar within the energy, industrial and natural resources verticals. It’s a major coup to have him on our leadership team.

“It is also a major coup for us to have Dean Brown lead our Information Technology practice. Dean is a technology strategist and CIO of the first order. He has led multiple organizations through important transformations, driving them to new levels of performance and success,” Casey added.

CXO Partners is a collection of proven C-suite executives who have successfully led multiple, enterprise-level organizations.

(SEE FULL PRESS RELEASE HERE)

Roles

CXO Partners fill a variety of roles as interim executives and functional consultants, including:

Executive Operations & Growth – These include executive leadership roles such as CEO, COO, Chief Commercial Officer, Chief Revenue Officer, Executive Director, General Manager and Principal.

Finance – Chief Financial Officer and Chief Accounting Officer. Executives may also fill Board-level roles such as Audit Committee Chair.

Information Technology – Roles include Chief Information Officer, Chief Technology Officer, Chief Information Security Officer, Chief Data Officer, and Chief Digital Officer.

Services & Industries

The expertise of CXO Partners extends beyond interim executive services to include the following:

Technology Strategy & Innovation – Provide vision, strategy and management oversight. Work with executive leadership teams to align business and technology strategies required to deliver growth, transformation, efficiency, and operational excellence. This includes digital and data strategies, cyber security, IT operations, vendor management, IT risk management, project management, and best practices with KPIs.

Mergers & Acquisitions – Support includes attracting bidders and selecting targets, IP issues, financial and operational due diligence, price and term negotiations, capital requirements. Including post-transaction convergence, restructuring, integration and efficiency realization.

Restructuring and Turnaround – Organizational alignment and structure, performance management.

Digital Transformation and Asset Performance Management (APM) Planning & Assessment – Includes Digital Transformation assessment, planning and implementation, focusing on the intersection and convergence of IT/OT to enable business processes to improve and increase digital maturity and effectiveness. Evaluate people, systems, and processes to help companies manage their digital journey and maturity.

CXO Partners fulfill functional needs within industry segments that include: Technology & Software; Healthcare and Life Sciences; Business Services, including Legal Tech; Financial Services, including FinTech, Energy & Natural Resources Industries; Manufacturing; and Consumer & Retail.

Leadership

Dean Brown (bio) leads CXO Partners’ Information Technology practice. He has more than 30 years of technology and operational leadership experience. He builds, drives and guides all aspects of an organization’s Information Technology (systems, processes and people) in order to directly align business and IT strategy resulting in growth, efficiency and operational excellence. Dean has served as CIO and COO for multiple organizations, including large commercial banks, as well as venture and private equity-backed fintech, payments and financial services companies. Dean completed his Bachelor of Science in Business Information Systems from Virginia Commonwealth University and his Master’s Certificate in Project Management from George Washington University. He is a Certified Information Systems Auditor (CISA) and a board member, RAM Athletics, Virginia Commonwealth University.

Maher Maamari (bio) is an accomplished senior executive with extensive proven experience in global business leadership, strategic management, opening new markets and structuring around winning teams. He has worked in multiple, billion-dollar-plus enterprises as Chief Commercial Officer, Chief Revenue Officer, and Managing Director. He is a transformative and entrepreneurial leader skilled in setting up business operations with emphasis on revenue and growth in established and new markets. Maher has extensive experience in industrial software solutions and SaaS technologies across multi-billion asset intensive industries. He is passionate about Asset Performance Management (APM) as part of customers’ digital journey towards operational excellence and energy transition.

Mike Casey (bio), co-founder of TechCXO, LLC, today a $50m+ firm. He currently serves as Managing Partner for TechCXO’s Finance & Operations (CFO) practice. Mike is also on TechCXO’s Executive Committee. During his career, Mike has been a CFO for multiple publicly-traded companies. He began his career in public accounting and holds a bachelor’s in business administration degree in accounting from The University of Georgia.

CXO Partners’ ability to meet companies’ growth, financial and technology needs are enhanced by two veteran interim executives, Liam Brenner and Gerry Hayden. Liam Brenner (bio) is a C-Level finance and operations executive. For more than 20 years, he has consistently delivered exceptional results as a CEO, CFO, and COO for both client companies and owned or started ventures. Gerry Hayden (bio) has been a CFO and strategic finance consultant for more than 30 years. Gerry’s primary area of expertise is healthcare, and he has deep domain experience in the payor, service, provider and technology sectors of healthcare.

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About TechCXO
TechCXO is a pioneer in providing high potential companies across the country with industry-relevant interim, part-time and fractional executives on-demand. More than 5,000 companies, from startups to the Global 1000, have entrusted TechCXO to help with their critical functions by calling on TechCXO executives as their CFOs, CEOs, COOs, CSO, CROs, CTOs, CMOs, CHROs and other executive roles. TechCXO’s major practice areas are: Finance & Accounting, Product & Technology, Revenue Growth, Human Capital and Executive Operations. For more information about the firm, please visit https://www.techcxo.com.

About CXO Partners

CXO Partners is a collection of proven C-suite executives who have successfully led multiple, enterprise-level organizations. As C-level operators and consultants, we lead organizations through transformational improvements. We are focused on providing interim services for established and lower middle market enterprises in software, energy, industrial, business and financial services, healthcare, consumer & retail, typically $30M – $500M+, depending on the industry sector. Our key services include interim management, corporate performance improvement, M&A, Digital Transformation and Asset Performance Management (APM) planning & assessment and restructuring and turnarounds. For more information, visit: https://cxo.partners/.

TechCXO 2022 Results

TechCXO Reports Full-Year Revenue Growth for 2022; 19th Straight Year of Top-Line Growth

(FROM PRESS RELEASE)

ATLANTA, GA – TechCXO, a pioneer in providing industry-relevant, on-demand executives and teams to companies in the U.S. and U.K., reported an increase of 27% in annual service fees in 2022 over 2021 to more than $52 million. TechCXO has increased revenue every year since its inception in 2003.

“As TechCXO celebrates its 20th anniversary this year, we are in the strongest position in our history. We now have more than 100 partners – the most in our history – and 90 consultants. We are retaining our partners at record rates because they love their clients, the firm’s business model and our collegial environment,” said J. Kent Elmer, TechCXO’s Managing Partner. “Very soon we will be announcing a major new service offering in response to requests from the private equity community and middle-market companies for full-time, interim executives.”

TechCXO has assisted more than 5,000 clients in its history. In addition to executive support, companies can also outsource their entire Finance, Sales & Marketing, IT, HR and Operations functions to TechCXO for 50-75% less than it costs to staff full-time, loaded salaries. All TechCXO partners and staff are U.S. and U.K.-based.

“TechCXO was built on financial expertise from our CFO partners, and it remains our largest practice, but our Product & Technology and Executive Operations groups were our fastest growing practices last year,” added Kent Elmer. “The market for proven executive leadership talent is tight, so new companies are entering the space, but our two decades of experience providing expert, on-demand support is a differentiator, we believe.”

Recently, TechCXO named new regional leadership.

CONTINUE READING PRESS RELEASE

TechCXO Names New Regional Leadership

Executives On-Demand Firm Updates Geographic Alignment in Mid-Atlantic and Central U.S

ATLANTA (January, 31, 2023) — TechCXO®, a pioneer and leading provider of industry-relevant, part-time, fractional and interim executives and teams, today announced that it has named new regional leadership. Effective immediately the following partners will be leading these regions as Managing Partners:

Central U.S. – Viraj Parikh (bio), who has served as TechCXO’s Managing Partner for Nashville since the firm began operations there in 2017, will now lead the firm’s Central Region, which includes Austin, Dallas, Chicago/Great Lakes, and Nashville. Additionally, Viraj will be leading the firm’s recruiting and outreach efforts in cities of interest which include Cleveland, Ohio; Columbus, Ohio; Detroit, Michigan; Houston, Texas; and Indianapolis, Indiana. TechCXO now ranks as a Top 10 Management Consulting Firm, according to Nashville Business Journal.

Mid-Atlantic – Jim Corr (bio), who has led TechCXO’s operations in Philadelphia since joining the firm in 2019, is an accomplished CFO with 30 years of financial management experience. Jim will now add North Carolina cities to his responsibilities with an emphasis on Charlotte and Research Triangle Park. Jim will also lead TechCXO in metro Washington, D.C.

TechCXO will continue to be led in Boston by Chris Thomajan (bio), and in New York by Ted Stone (bio). In Atlanta, TechCXO’s headquarters, Kent Elmer (bio) remains firm-wide Managing Partner; Mike Casey (bio), TechCXO’s co-founder, now leads TechCXO’s Finance & Operations Practice, and Paul Sansone (bio) leads outreach in metro Atlanta.

TechCXO has increased revenue every year since its inception in 2003. The firm was also on the Inc. 5000 list of the nation’s fastest-growing private companies for 13 straight years.

“Our strategic realignment is focused on recruiting qualified new partners in our current markets and in new cities,” said Kent Elmer, TechCXO’s Managing Partner. “Viraj has done a terrific job growing our Nashville presence, and we’re excited about his plans for the middle of the country. Jim Corr took the reins in Philadelphia and immediately began expanding our network and influence, which he is sure to do as he assumes leadership in D.C. and Carolina.”

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Building a great management team

Oscar Wilde said, “With age comes wisdom.” After working as a CFO for more than 30 years with nearly 100 companies, mostly startups, I’ve begun to identify some of the key early attributes of a topnotch management team. A great management team doesn’t necessarily guarantee success, but without one, you’re almost guaranteed to fail.

Of course, the second part of Wilde’s quote is, “But sometimes age comes alone.” So what are the hallmarks that distinguish a tier-1 management team from others?

The Chief: It starts with the CEO. Experience certainly helps, but there are plenty of outstanding, young CEOs. Successful CEOs rely on their strengths and leverage the strengths of the team around them. In a fundraising pitch, for example, I’ve seen CEOs do nothing more than open and close the meeting. In between, the heads of sales, marketing, product and finance all have a chance to shine and highlights the team.

Hire Great People: I often say that I’ve made a career out of hiring people smarter than I and managing them well. Successful companies and their managers are not afraid to hire A players and they never settle for B players.

Recognition: Great companies highlight and celebrate their successes as a team. “Catch people doing something good”. This might be cash compensation, a call-out at the all-hands company meeting or it could be something with intrinsic value only. At one company, we used a baton to celebrate success. The baton would sit on the recipient’s desk and became a coveted symbol of achievement.

Accountability: Of course, with recognition must come accountability. People need help and coaching if they are not meeting expectations and you can be sure that the rest of the team notices when a teammate is lagging. Holding people accountable for their goals fosters an environment of high achievement and success.

Decision Making: Seek input from a variety of sources but move efficiently to make decisions. Once made, communicate those decisions
clearly and succinctly. Most people are afraid to make decisions, but a leader embraces the challenge and is not afraid to be wrong.

Culture: Perhaps the most important, but the hardest to manage. Culture requires buy-in and starts with the senior management team. Culture is a continuous process that needs to be nurtured. While the management team can help guide the process of building and maintaining a strong culture, they do not have to implement specific programs. There are personality types in every company that help establish company culture. Ask for their advice and allow them to make proposals (e.g. The Fun Committee).

Great management teams operate in an environment of high expectations and welcome candid discussions and feedback. How does your team stack up?

Learn more about Chris Thomajan, TechCXO’s Managing Partner – Boston

CISO-As-a-Service

CISO as a Service

A Fractional CISO as a Service, sometimes called vCISO (virtual Chief Information Security Officer), is an alternative security program leadership strategy that leverages a flexible resourcing model to achieve your program goals. TechCXO has been providing this independent and well-planned Fractional CISO service for years, we are experts in this area.

Most organizations find it challenging to justify the investment of a Fractional CISO but their business requires a high level of security to maintain operations. Use a fractional, Fractional CISO-As-A-Service model that is affordable and integrated into your operations.

Five Areas to Benefit from CISO-as-a-Service

Information Security in modern business has been elevated to the C-suite due to a number of high profile breaches in corporate America and the government. TechCXO has created a CISO-As-a-Service solution for companies of all sizes to meet needs and provide benefits in the following five areas:

Regulatory

Payment Card Industry (PCI), HIPAA, GLBA (banking), CFPB (finance and insurance), SEC and FINRA (Financial services / registered investment advisors).

Supply Chain Framework & Compliance

Contractual requests: to our clients coming from their clients and business partners; NIST (National Institute Standards and Technology) 800-XX series.

Information Security Audits

Internal and External.

New Market and New Business Opportunities

Driven by clients and consumers. As a marketing differentiator for those firms selling an information security posture as competitive advantage.

Risk Management

Driven by CEOs, CFOs, Executive Teams, Investors and/or Board of Directors.

TechCXO’s CISO Team

Your business is unique. We’ll work with you to accommodate your specific needs, from short-term projects to ongoing support, either remotely or in-person.

After completing the form, a TechCXO advisor will reach out to learn more about your project or team needs and match you to the perfect product and technology talent.

CISO-as-a-Service Guide

Most organizations find it difficult to justify the investment in a Chief Information Security Officer (CISO), but their business requires a high level of security to maintain operations. TechCXO provides a fractional, CISO-As-A-Service model that is affordable and integrated into your operations. Includes 5 Key Security Areas CISO-As-A-Service covers.

CEOs Are Like Fine Wine

During my 30+ years as a CFO, I’ve worked directly with roughly one hundred CEOs. They are a unique and fascinating breed and over the years, I’ve started to discern some patterns and have tried to segment them into categories. Using the analogy of fine wines, below is a short and wholly unscientific compendium of the personalities you are likely to find in the corner office.

Beaujolais Nouveau – aka the first-time CEO

These CEOs are relatively light in terms of experience but make up for it with their can-do attitudes. They are often the founders of their companies and may have been thrust into the role by default. As with the producers of the young wine, they may race to get their products and services out to the market, sometimes before they are ready (sacré bleu!). Beaujolais nouveau is a wine that celebrates the harvest, and these (often young) CEOs are avid cheerleaders and find ways to celebrate wins with their teams. Best paired with a strong C-Suite or Executive Board member to mentor and lend credibility.

Rosé – aka the sales-oriented CEO

These CEOs range from the light and frivolous to the structured and complex. They’ve had success in the sales function and bring a competitive, goal-oriented approach to their jobs. With notes of hubris and aromas of exaggeration, these CEOs can be highly successful leaders. Much like the wine that can be drunk at any time of day or night (please don’t judge my day drinking tendencies) the Rosé CEO is a hard charger and ready for all challenges. Best paired with a strong CFO/COO who can apply some discipline and realism to the company’s business plan.

Chardonnay – aka the engineering or scientific CEO

Deep sector experts and often polymaths, these CEOs come in a broad range of skills and talents. They are well balanced and sometimes too smart for their own good (think too much oak or buttery taste). The Chardonnay CEOs are confident, well respected and have been aged on the frontlines of their industries. They do not have long shelf lives because the very attributes that make them successful (deep knowledge of the science or technology) also mean they will struggle to delegate and take a broader view of the business. They are meant to be drunk early. Best paired with outward-focused executives such as business development or sales.

Cabernet Sauvignon – aka the mature, serial CEO

These CEOs are respected for their laser focus and seasoning. Though sometimes acidic, they exude confidence, both with their gravitas and experience. They can be expensive, but the right CEO, like the right wine, is priceless.

These CEOs come in with a plan, an established network, including investors, and command respect. Heavyweights in their industries, the Cabernet Sauvignon CEOs have experienced success over their careers and made a lot of people a lot of money. Best paired with an executive team that will execute on the plan and sweat the details.

Port – aka the dictator

The port wine CEO is highly complex with notes of authoritarianism and control. They often build a cult of personality and demand total loyalty. Key to this phenotype is the use of fear as a management tool to drive results. The port CEOs can be successful but have a short shelf life because of their inevitable negative impact on employee turnover. As with the traditional method of stomping grapes, these CEOs run roughshod over their teams.

Though sometimes successful, companies with a Port CEO usually end up with sour grapes. Best paired with a board that can curtail the worst of their excesses.

Learn more about Chris Thomajan, TechCXO’s Managing Partner – Boston

Calling Your Content ‘Thought Leadership’ Doesn’t Make It So

Content marketing became a powerful marketing approach over a decade ago, with the maturation of the internet, the commensurate explosion of online content, and the evolution of digital and social media marketing. This has given rise to an evolved customer journey, with customers doing most of their research online and relying on various forms of content to keep them up-to-date and aid in decision-making.

However, lately, there’s been a dramatic rise in the term “thought leadership,” which marketers have used interchangeably with content marketing. The problem is – just because you’re creating and sharing content on relevant topics doesn’t mean you’re engaged in “thought leadership.”

While content marketing and thought leadership are involved with developing content to ultimately drive inbound interest, thought leadership goes beyond its ability to provide a greater sense of authority, expertise, and trust. Simply stated, content marketing isn’t bad; it’s just that thought leadership is more powerful.

So, what are some key elements that differentiate thought leadership from basic content marketing?

It’s audience-focused not company-focused. As I’ve written before, it’s more important to write content about what your customer cares about than what you do. Rather than using content to promote one’s products and services, thought leadership is consumed with answering its audience’s fundamental questions. It demonstrates an understanding of the worlds, challenges, and needs of its customers and uses the language of the industry and its practitioners. Because of this, its primary goal is to be helpful – which is why customers view it as more valuable.

It’s novel and original. There’s a fairly common playbook for most content marketers, consisting of similar types of summaries, e-books, and product comparisons.

Thought leadership aims to be more original, with next-level insights, unique takeaways, and creative twists on the standard fare. This is what provides the leadership part of thought leadership. In addition, thought leadership has a distinctive “voice” that gives it personality and attitude, which helps it stand out as worthy of attention.

It demonstrates relevant experience and expertise. This may be the most important aspect of thought leadership: it showcases the writer’s (and, hence, the brand’s) pointed relevance for solving its users’ problems. It demonstrates an applicable set of experience and learning that sets the brand’s offering apart from its competition. This level of experience projects overarching expertise — which leads to trust. And trust is the one thing most desired in the buying process.

It’s two-way, not just one-way. While content marketing tends to aim to push out its one-way story, true thought leadership invites input and even sparks debate. This can add a layer of authoritativeness to the writing by demonstrating an openness for dialogue and opposing views that evince confidence and substance.

So next time you or your marketing colleagues discuss moving forward with a thought leadership effort on behalf of your brand, recognize that you’re speaking about something beyond content marketing — thus requiring an effort beyond it as well. But the impact and results you’ll achieve will be beyond it, too.

Email Michael | LinkedIn | Download Michael’s CV (PDF)

TechCXO Expands Its Nashville Presence with New Partners

Executives On Demand Firm is Now a Nashville Top 10 Management Consultant. Interim and Fractional CFOs, COOs, CMOs Support Region’s Fast-Growth Companies.

TechCXO®, a pioneer and leading provider of industry-relevant, part-time, fractional and interim executives and teams, today announced that it has expanded its Nashville presence with the addition of three new partners. TechCXO now ranks as a Top 10 Management Consulting Firm, according to Nashville Business Journal and is led by veteran finance executive and TechCXO Managing Partner for Nashville Viraj Parikh (bio).

Nationally, TechCXO reported an increase of 47% in annual service fees in 2021 over 2020 to more than $41 million. TechCXO has increased revenue every year since its inception in 2003. The firm was also on the Inc. 5000 list of the nation’s fastest-growing private companies for 13 straight years.

Read Full Press Release Here

New Partners in Nashville

In addition to Viraj Parikh, COO Healthcare Partner Stephanie Rose Belcher (bio) and CFO Partner Gerry Hayden (bio), TechCXO has added the following partners in Nashville:

Amanda Donnelly (bio) – Partner – Revenue Growth: Amanda Donnelly is a full-stack marketing leader who elevates brands, engages customers, and increases market share for organizations. She uses her deep understanding of digital marketing to assist high-growth stage businesses looking to expand their marketing operations to meet demand. Amanda is a Partner in the Revenue Growth group and is is most frequently called on by Boards, investors and senior management teams to assist clients as an interim and fractional CMO.
Dan Benetz (bio) – Partner – Finance & Operations: Dan Benetz assists start-ups and fast-growth companies as an operationally-focused CFO. He primarily focuses on firms in the Technology, Manufacturing, Life Science/Biotech and AI spaces, as well as SaaS businesses in Digital Healthcare, Digital Transformation and Education Technology. Dan spends his time in both Nashville and California.
Peter Clifton (bio), Partner – Executive Operations: Peter Clifton is a senior strategic and operational technology executive with extensive business building experience across industries including Healthcare, SaaS, Technology, B2B, Information Services, Media, Publishing & Education. Peter is a collaborative partner with a successful track record working with startup and mature company management teams, boards, venture, public and private owners to drive growth and create shareholder value as a fractional COO and/or CTO.

“Nashville is a dynamic, high-growth market whose entrepreneurial energy is exceptional. We are so pleased to this city home,” said Viraj Parikh. “We’ve had the honor to assist some of the region’s fastest-growing and most successful startups. With this expanded team, we can meet the region’s operational and strategic needs, including marketing, sales, finance and operations.”

“There are so many built-in advantages for Nashville as a business hub. There is a robust Incubator, Angel, Venture Capital, and Private Equity Investor network. Then, there’s a world-class education infrastructure of colleges and universities. Young, creative people who come to school here are staying here for the lifestyle and opportunities,” said Parikh. “Couple all that with a culture of hard-work, hustle and grit and you have something special here.”

Building Brand is Paramount for a Sustainable Marketplace

Building a marketplace brand is no easy feat.

Marketplace executives may be tempted to consider whether they or their sellers “own” the relationship with the customer. In truth, neither the company nor the seller does. The customer determines the terms of engagement. Both the company and the sellers serve the customer, albeit in different capacities. The company’s brand and the seller’s brand must coexist in this environment.

Many early-stage marketplaces focus on driving buyers to their website or app. While this is a critical step in validating product-market fit, building a brand is as important for the longer-term viability of the marketplace. Without a strong brand, the marketplace has no chance of remaining top-of-mind and will be relegated to a perpetual cycle of spending heavily to acquire customers.

Take these steps to begin to strengthen the brand and break the cycle.

Implement a Seller Vetting Process

One role the company plays is that of a scout. Potential buyers often come to a marketplace because they will be presented with several options to choose from. Like sports scouts, marketplace leaders have to go to the game, see how the player plays and how they interact with others. Essentially, they watch how the seller performs outside the marketplace before they are invited to join the team. If the seller meets expectations, they’re in.

This vetting process is important because the individual activity of each seller reflects on the company’s brand. It is important for the marketplace to define and screen for seller criteria that align with the brand they wish to embody.

Expand the Supplier Base

In addition to having vetted sellers, marketplaces must curate a sufficient number of suppliers. A wide supplier base not only gives buyers more options but also reduces the company’s reliance on individual suppliers.

A more substantial supplier base can reduce the need for the buyer to look elsewhere. It can also mitigate damage to the company brand if a rogue supplier does not meet customer care expectations. Essentially, having more suppliers reduces the impact of any single supplier’s untoward actions on the platform.

Mitigate Communication Barriers

It is practical for marketplaces to want to limit communication between buyers and sellers before any transaction has taken place. Doing so keeps opportunities for disintermediation in check. However, it also can breed distrust. Blatantly blocking communication between buyer and seller will be brand damaging.

Marketplaces should mitigate communication barriers so that their brand can be seen as one that is trustworthy. So, share critical information between buyer and seller in a timely fashion. If it is prudent to do so, transmit contact information after the purchase transaction. The product should enable communication to commence immediately after payment is made. Marketplace leaders can also prioritize product features that enable communication through a secure (perhaps monitored) channel.

Satisfy Buyers to Retain Sellers

Remember that building a strong brand with suppliers is as important as building a brand with buyers. For some platforms, it is more important.

Suppliers will remain active on the platform if a steady flow of buyers is available to them. Encourage loyalty in the buyer community. Invest in data systems that allow for dynamic learning of buyer behavior. Use this knowledge to make personal recommendations that add value to the buyer’s experience.

Introduce options in products, devices, and payments that allow buyers to interact on their terms. A concierge-level of service for frequent buyers can further strengthen loyalty. In fact, preferred tools should be made available to both volume buyers and volume sellers.

Key takeaways for marketplace leaders:

The brand voice of the marketplace becomes more significant as the supplier base grows. The larger supplier base reduces the ascendancy of any individual supplier brand.
The supplier’s delivery of service is a reflection of the marketplace brand. Therefore, the marketplace must select sellers who align with its brand values.
Communication between buyer and seller before the purchase can be perceived as an opportunity to remove the marketplace from the transaction. However, it is a critical part of building trust within the community and one that the marketplace must astutely navigate to build a viable brand.

Email Katherine | LinkedIn | 626-344-8730 | Download Katherine’s CV (PDF) | Twitter

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