A company's culture is built on the business values upon which the company operates, usually, the owner's values. Culture evolves much from the attitudes and philosophies used to direct the company - less from what is said, more from what is done.
Managing a small business, especially its growth, is never an easy task. But, for entrepreneurs, it's when facing adversity that your ability to lead your company and your team, is most challenged. Assisted by Lego's experience, 6 lessons to apply
Is this you? Starting your business it was just you. However, the longer that goes on, being the only decision-maker is not only a lonely existence, but could threaten the business' existence. Here's some guidance to help you let go and grow.
Rarely can an entrepreneur build a great business alone. Almost always it takes a great team to build a great business. Easier said than done because there are many significant challenges in the construction of a great team.
Recent issues with companies like Wells Fargo constantly remind me of the importance of business culture and how it is so frequently misunderstood. No matter what you say, your culture is driven by what you do!
Does this sound like you? You're an entrepreneur; your business is well past the early stage, but you just can't seem to get either your company or your employees to that next level of growth, no matter how hard you manage every last detail.
Yes, you heard that right! But maybe not in the way you think. Growing a small business is a huge challenge, but it's a greater challenge not to make your small business act and feel like some Fortune 500 company.
Being a boss is not the same as being a leader. Leaders inspire, guide and motivate, hoping to help those they are leading to achieve both results and growth. Here are 5 key ways to ensure you are leading instead of just "bossing."
Having "parachuted into" a number of ugly turnaround situations, I've seen small company culture, from a lot of perspectives, often very bad. But all had one commonality...they never really paid much attention to culture.
In this age of texting and emails, less and less personal contact, some of the human touch seems to have been lost. And that can be a crucial difference in how you communicate and address issues that help you as a leader and drive your company's success.
Sports provides great metaphors and analogies for entrepreneurs. As a former athlete and coach, there have been 4 critical lessons that I've learned through my sports experiences that have been important in all the companies I've started or advised.
The culture an entrepreneur creates can be the single biggest factor in not only driving success, but attracting the employees and customers it needs to sustain that success. It reflects the environment and the management style the founder creates.
Most entrepreneurs watch every penny, especially early on. But there's difference between being fiscally conservative and just plain old "cheap!" Knowing what you're "really" paying and "really" getting in return with employees and suppliers is critical.
For many entrepreneurs, this sounds like some cultural nirvana. Accomplishing one of those two monumental challenges would be a great thing. But both? It's not only possible, but if you accomplish one, you will almost always, make the other happen!
It happens every day. An entrepreneur learns that a former key employee, who left under good terms, has solicited suppliers and customers with a competitive offering. And, without a non-compete agreement, a new competitor and not a legal leg to stand on!
Good and loyal employees are what underpin success. Making your employees owners may be the smartest thing you ever do. It gives employees a more positive job perspective and an advantage for optimizing value and hedging against business failure.
As you grow your company you will have to hire and manage people to achieve that growth. You will have to learn how to be a boss and how not to become like the one (or ones) you hated most in your business life. The jerks!
A line from "Cool Hand Luke" that is, often, what causes negative customer relationships. Not just with direct communication with the customer, but, as likely, with the internal communication (or lack thereof) within a company that affects that customer.
Recently, there was an article in the Wall Street Journal on CEO "burnout." While it focused, primarily, on larger public companies, "burnout" is an issue that is applicable with lessons to be learned for entrepreneurs and small business owners.
Hiring the first employees in a start-up is an epochal event in an entrepreneur's and a business' life cycle. Like getting your first customer and revenue made you a real business, having employees now makes you a real company.
A business and its culture should reflect the foundation beliefs of the founder/entrepreneur. These beliefs are founded in the business and personal experiences. But not enough realize them, and fewer still translate them into their culture.
Once, long ago, I was being interviewed for a position to run a division of one of the few large companies I ever worked for. As the interview was coming to a close, the Chairman/CEO, who I had known for years, asked me if I had any questions. I said I...
Hiring the right folks for the right positions, then having them take ownership of those positions and holding them accountable for the responsibilities and expectations associated can become the foundation for success and future growth of a small ...
When an entrepreneur starts a business, probably the last thing they think about is the culture they are going to create within it. Yet, it is probably the most powerful force that, later, drives the company forward...or not.