The 5 Most Common Challenges Executives Face, and How to Overcome Them

You’ve worked hard for years to climb your way to the top of the corporate ladder. Thanks to your drive and dedication, you’ve been rewarded with the accolade of becoming a top executives within your firm. You’re finally getting the recognition you so rightly deserve.

However, while you may have spent a long time overcoming challenges, it doesn’t stop when you reach new heights. In fact, you may discover that your professional life becomes even more challenging following this step up. According to a research data from Forbes, business executives face five key challenges:

1. Generating revenue
2. Time management
3. Leadership
4. Growth/Strategy
5. Marketing

In this piece, we examine each of these five challenges and offer executives some helpful resources they can use to overcome them.

1. Generating Revenue

The research discovered that money issues were top of mind for business executives. Many of them (26% to be exact) reported encountering challenges in areas like lead generation, raising capital, and attracting new clients.

2. Time Management

Roughly 22% of surveyed executives shared that time was another top concern. Many expressed not having enough time to complete all the tasks they needed to do. A common struggle was also managing competing priorities and multiple commitments.

3. Leadership

Meanwhile, 19% of survey participants said that leadership struggles were their main concern as executives. Some of their specific issues included managing an international team, finding motivated and passionate workers, and balancing employee needs with organizational needs.

4. Growth/Strategy

18% of respondents listed growth and strategy issues as their biggest hurdles in the workplace. More micro concerns included scaling, finding opportunities for organic growth, and setting up affiliates and other strategic partners. 

5. Marketing

Executives know better than anyone that marketing is one of the important components contributing to a business’ success. According to this report, however, it’s also one of the most challenging. Approximately 17% of executives said that their main struggles lay in marketing initiatives. Specific challenges included maintaining visibility on marketing channels, being heard over the ‘noise’ on the Internet, and getting the right level of exposure.
Overcoming These Challenges
When it comes to surmounting these hurdles, there are several resources executives can use. Perhaps the most pertinent and effective, however, is an executive coach. Over the last 30 years or so, executive coaches have grown massively in prevalence, with more professionals seeing the value in their services.
Executive coaches can undoubtedly help you address any concerns you may have in the aforementioned challenge areas. For example, are you struggling with leadership as many of the survey respondents are? An executive coach can guide you on your journey building executive leadership skills by providing industry insight and actionable strategies.
Clearly, there are numerous challenges executives face in the workplace, and these five are simply the tip of the iceberg. However, an executive coach can assist greatly in overcoming these hurdles. In many ways, an executive coach is a must-have tool for your business. With that in mind, be sure to seek out executive coaching as soon as possible to set yourself – and your company – on the path to success.