Change is imperative for a business to survive in this troubled economy, according to five former and current CEOs of sizable businesses at Katzen Arts Center during a panel discussion on Sept. 24.
At 6:45 p.m., Katzen’s lobby was filled with tables of hors d’oeuvres and men in black suits. The event, called “Managing Through Troubled Times,” started off with a reception where students, small business owners and corporate executives mingled. Then, the Kogod School of Business’s Executive-in-Residence Robert Sicina led a discussion with the panel and the audience.
The event was one of several put on by TiE-DC, a local chapter of The Indus Entrepreneurs. TiE strives to “foster conscious entrepreneurship globally by educating, networking and mentoring,” according to its Web site.
Before Sicina asked his first question, the panel spoke about themselves and their businesses, setting the tone for the evening; both jokes and serious advice were interspersed throughout their commentary.
Shiv Krishnan, chairman and CEO of the INDUS corporation, spoke about how his technology firm — which mainly serves the government — has changed to accommodate the new administration during this economic lull.
“You’ve got to get smarter, better and start delivering services cheaper,” Krishnan said.
Additionally, Krishnan said retaining previous clients is one of the key ways to survive as a business.
“Do not let go of your existing customers,” Krishnan said. “They are going to stick with you if you continue to excel in delivering your services.”
Principal and Founder of Lecos and Associates Bill Lecos, outlined a leader’s role in that customer retention.
“In a small business, it is critical that the CEO not only function as the face of the business,” Lecos said. “But take that extra time and make the connection to your customers.”
While Sicina’s questions focused on the future of the economy, the audience asked a broad range of questions.
One student asked the panel how influential an applicant’s legal record is in comparison with their GPA.
Roy Dunbar, Chairman and CEO of Network Solutions, said his company cares “tremendously about GPA.”
Krishnan said he did not look at legal records other than how it might affect an employee’s clearance in government facilities.
“I look for the attitude and ability to work hard,” he said.
Lisa Anderson, a second-year master’s student in Kogod said she was interested to see how small businesses are coping in this economy.
“I thought it was really engaging, and I thought it was humorous,” Anderson said. “And it was nice to see them come and relate to other business owners in the area but then also to take student questions.”
The night ended with a question about the personal sacrifices necessary to become a CEO.
“Leadership’s a lonely job,” President and CEO of GXS, a worldwide electronic marketing company, Bob Segert told the audience. “Because while you need to be friendly and personable ... you’re always on and you’re always out there ... Even as a local business, if you’re on the road, you do have to work extremely hard at the personal relationships ... That’s been a sacrifice that I’ve made, and one that I think will probably continue.”
You can reach this staff writer at sparnass@theeagleonline.com.
