Texas CEOs see both the economy and hiring improving in the coming year.
Rafael Pastor, CEO of Vistage International, recently shared the results of the Q4, 2011 Vistage CEO Confidence Index at the Texas CEO Magazine Speaker Series event in Austin.
Like their U.S. peers, CEOs in Texas believe the economy has and will continue to improve. And in three areas, Texas CEOs are even more optimistic than the rest of the country:
In each of these three areas, Texas business leaders are significantly ahead of the rest of the country. “Our survey is probably the leading barometer in the U.S. of what CEOs of small and medium-sized businesses think about the economy,” said Pastor. The quarterly report is compiled by Richard Curtin, an economics professor at the University of Michigan. Curtain says since beginning the survey in 2003, it has become a leading indicator of both GDP growth and employment levels. Pastor believes the survey is one to two quarters ahead of the actual economic indicators issued by the government.
Other results from the total U.S. survey indicated:
In his final comments, Pastor emphasized leadership and the four elements of character CEOs must have – confidence, curiosity, courage and collaboration.
“If you cannot project confidence to all of your constituents – your staff, your customers, your bankers, your vendors,” said Pastor, “how are they going to have any confidence in you and your business?” Pastor says CEOs have to confront issues like the economy and let their team know, “I believe in you, I believe in our product and I believe in our ability to innovate and get through this.” Pastor also says confidence is a self-fulfilling prophesy.
Curiosity is vital, because leaders have to look around the corner in order to look ahead and see what’s coming. Looking straight ahead, says Pastor, simply isn’t enough.
He added that leaders must be have the courage to take risks to innovate and look inside and ask themselves, “What can I do differently?”
Finally, Pastor said it’s important to not only collaborate internally to get people inside a company to work together, but today it’s increasingly important to collaborate with external partners within the community because, “It’s likely the sum is greater than the parts.”
Ultimately Pastor said, “It’s all up to us. It’s our influence in our companies and our communities that makes the difference. It’s up to us.”
The Texas CEO Magazine Speaker Series is sponsored by:
#TexasCEO's 10 Most Read Articles Of 2017 #2 The Changing Of The Guard: San Antonio’s #Economic #Development Future texasceomagazine.com/features… @SanAntonioEDF #1 Deep Roots In The Heart Of #Texas: The Kaspar Family’s #Holistic Approach To #Ranching texasceomagazine.com/features…
#TexasCEO's 10 Most Read Articles Of 2017 #4 @Jim_nyquist: At The Inflection Point Of #IIoT texasceomagazine.com/features… #3 Building #Innovation: @turner_talk Builds On Empowering Individuals texasceomagazine.com/features… @Turner_DAL @TurnerSouthTX #MiddleMarket #entrepreneurs
#TexasCEO's 10 Most Read Articles Of 2017 #6 The Cilantro Diaries: #Business Lessons From The Most Unlikely Places texasceomagazine.com/book-rev… @lgomez123 #5 From #Franchisee To #Franchisor: How Gordon Logan Built @SportClips texasceomagazine.com/features… #MiddleMarket #entrepreneurs
#TexasCEO's 10 Most Read Articles Of 2017 #8 #Mexico Is The New #China by @DrPippaM texasceomagazine.com/departme… #7 Growing The Next Generation Of Texas #CEOs: #CEO-to-CEO #Mentoring texasceomagazine.com/features… #Texas #MiddleMarket #business #entrepreneurs
#TexasCEO's 10 Most Read Articles Of 2017 #10 7 Top Trends That Will Shape #Texas In The Coming Decade by @KenGronbach texasceomagazine.com/departme… #9 Peter Huff Of @BlueSageCapital: A Generalist In The Specialized World Of #PrivateEquity texasceomagazine.com/features… #Texas #MiddleMarket