The growth formula: Vision, support, and the right CEO
Finland has been struggling to grow, and there are many reasons why. Some might sound like excuses, but the reality is we’ve faced real challenges that have made growth difficult.
However, understanding these challenges is the first step toward change. The path forward may not be easy, but it is absolutely within reach with the right focus and collaboration.
I recently read the impact study conducted by the Finnish Venture Capital Association from late 2024 and noted that, according to the study, companies backed by VC investors grow significantly faster than their peer companies across all investment categories (source: https://paaomasijoittajat.fi/app/uploads/Vaikuttavuustutkimus_FI_2024.pdf).
I believe that, in addition to an excellent strategy, one of the most critical success factors for a growth path is a competent CEO and the support they receive.
CEO as a growth driver
As we know, VC investors often seek rapid and profitable growth. In my experience, they are also highly aware of the critical role a skilled CEO plays in this growth journey. A CEO’s ability to navigate the market, make strategic decisions in collaboration with the board, and inspire the organization toward growth objectives is crucial. Without a capable CEO, a successful growth journey remains a mere dream.
A clear growth vision
I believe that the foundation of a successful growth journey lies in the owner’s clear expression of intent, outlining where the company should be headed in the coming years. In this regard, VC investors set an excellent example: their goals are well-defined, and their ownership vision is crystal clear. This ensures that all stakeholders (owners, board members, and top management) are aligned toward the same goal, creating a strong foundation for successful collaboration—we all know what we are working toward.
A shared vision ensures that every action is directed toward the company’s long-term growth and success, leaving no room for distractions or personal agendas. This also fosters fast decision-making and an efficient operational model—eliminating inefficiencies, addressing problems swiftly, and maintaining a sharp focus. This is an excellent starting point for a CEO to build growth.
The importance of supporting the CEO
Focus, clarity, and a shared vision are equally crucial when it comes to the support provided to the CEO. When there is a strong commitment to growth, expertise and resources must be made available to help the CEO succeed. VC investors often have access to a strong network of experts, which they willingly offer to their portfolio companies. This can be particularly valuable at critical transition points or in situations requiring in-depth expertise and rapid problem-solving. Having trusted experts readily available speeds up decision-making and ensures effective solutions, saving the CEO time from having to search for the right advisors.
In my experience, venture capital investors are also prepared to provide strong support to the CEO through the board. Close collaboration between the board chair and the CEO can be crucial for the company’s growth journey. Conversely, a lack of such collaboration can lead to trust issues, power imbalances, and misalignment—factors that often divert time and energy away from growth. Many CEOs, in general, feel isolated, and in challenging situations, they often lack adequate sparring and support.
Key takeaways for any company, regardless of ownership structure
Every company can apply these concrete principles to their own growth journey:
1. A unified and clearly articulated owner vision
2. Ensure access to the right expertise and scalable resources
3. Active and empowering board support for the CEO
I would be happy to discuss growth enablers with you further.
Pia Pursiainen | Partner | Chief Executive Search | +358 44 540 0654 | pia.pursiainen@chief.fi