I was asked in session this morning what takes businesses from good to great. That is a complex question, but I highlighted the following fundamentals in my answer:
1. It’s All About People so Hire the Right Ones: It sounds simple, but so many people get this wrong every day. Every business ultimately comes down to the people and their intellectual property, creativity, and business acumen applied in the service of others. To build a phenomenal business, you must take the time to hire people who believe in the mission, are likable, and have a passion for service. They must have the intellectual horsepower, work ethic, and integrity to deliver at scale. Hiring the wrong people will destroy the business from the inside out. But companies rush through this and do it every day.
2. Be Highly Differentiated or Perish: I see a lot of leaders who think that their businesses are special simply because they run them. In any business, you must be ruthlessly honest about your position in the market. Are you offering a highly differentiated, important offering that your clients cannot get from any other company? Can you tell that story from a client’s point of view in less than 90 seconds? Be honest and think hard about the answers to those questions. If they aren’t clear, crisp, and specific, you will struggle to survive.
3. You & All Employees are the Brand- Live it: Every interaction with a client or customer, any public image, and any interaction big or small demonstrates your brand value and image. I see many companies who believe if they deliver in front of customers that will be “enough”, but the culture of your company, the way everyone conducts themselves day-in-and-day-out at every interaction must be “on-brand”. You ARE your brand. Nothing will be stronger in the market than your constant conduct.
4. Be An Authentic Leader: Don’t compromise your authenticity. It’s the best superpower you have as a leader. I see so many leaders who are focused on what they “think” they should be, not who they are. It’s impossible to inspire, build, and grow a great business if you are constantly trying to blend who you really are with a persona you have constructed for work.
5. Operational Excellence is Mandatory: All businesses thrive on operational efficiency and optimization. The systems, processes, and infrastructure needed to run an effective business may not be glamorous, but they are a mandate to run a profitable business of any kind. Invest in process optimization and grow an operations team that is passionate about wringing any inefficiency out of the system.
The road from good to great is rarely a straight one and every organization will experience speed bumps along the way. However, the most successful organizations, and those that are on the path to greatness, have recognized the importance of the five tenants above and are actively engaged in ensuring each is a fundamental part of their culture