5 Powerful Strategies for Explosive Business Growth
Starting a business is just coming up with ideas, which always sound great in the initial stage.
Starting a business is just coming up with ideas, which always sound great in the initial stage. But only when you really jump into the swamp, will you realize all the facts.
Many of them start a business with firearms, but most of them don’t last long (or we can say they “fail to last”). On the other hand, some entrepreneurs enter the market, conduct a failed experiment, and then come back stronger and stronger.
I recently spoke with the founders of two other companies that went through similar paths; With our combined experiences, I’ve identified five essential tips to ensure changes take place in your company as smoothly as possible.
1. Educating and empowering employees.
Early in my career, I was an employee of two companies that were taken over by big companies. In each case, the management of the acquired company behaved similarly to the republics in the former Soviet Union. They eliminated top managers by adopting an “our way or the highway” policy in terms of systems, processes and culture.
We did the exact opposite because we assimilated other cultures. Ted Burkhan, our agency’s president, says he has long noticed the good that smaller companies have done and, where appropriate, has replaced our existing practices with theirs. We assured all 120 employees that the best idea always wins.
2. Spread the knowledge of the company around it.
Eighteen years ago, we focused on one service offering: public relations. Today, we offer a “channel neutral” suite of marketing services ranging from web design and social media to content creation and crisis advice. But a significantly expanded range of products or services can be both a blessing and a curse at the same time. It is important that employees understand new offers, and be able to properly communicate them to customers and potential customers alike.
To ensure consistency, we began mixing and matching newly integrated senior management teams in our internal training sessions, video graphing their mock business presentations. It forces us to embrace and connect with our new identity.
3. Give credit where credit is due.
Funding Circle and Papercom both have Wall of Fame employees. In the first case, employees are asked weekly to name a global figure, past or present, that best embodies the spirit of their company. Great figures such as John F. Kennedy and Babe Ruth decorated the wall (see below) with the name of a funding circle employee who distinguished himself or herself in that particular week. In our case, we are posting a photo of an employee who has achieved the most significant result for the client in the past two weeks. In both companies, leadership highlights individuals who excel in times of extreme stress and extraordinary change.
4. Set and manage client expectations.
Maintaining quality during flight can be like crossing the narrow stars of the Grand Canyon. Any number of things can go wrong. The first thing we did after the acquisition was to check in with our customers to see if they had any questions or concerns. Most were satisfied, but some expressed some degree of uncertainty. By quickly addressing potential problems, we are able to provide solutions.
Funding Circle’s Tonelli says that their associate managers emphasize providing high-quality service during periods of rapid growth and that “we may ask each other if we discover something that doesn’t meet high expectations.” will contact.” So if an executive finds that a report isn’t as detailed as it should be, it will have to go through another round of editing before daylight strikes.
We do the same in our company. A team of editors will carefully examine everything from press releases and white papers to website content and iPhone app functionality before sharing them with clients.
5. Strengthening the founding principle.
While we are always ready to learn new and better ways to solve customer challenges, we are also junk dogs when it comes to protecting our unique culture. Peppercom was founded on the principle of hard work and hard work and has flourished after we incorporated stand-up comedy training in our management development.
We train every employee (and some clients) in the art and science of stand-up comedy for a number of reasons: it improves presentation skills, creates a stronger bond between employees, avoids transparency, vulnerability and one’s mistakes. encourages learning. So the first thing we did for our newly wed friends was to send them to a New York comedy club for a half-day permanent practice.
Rapid growth management is not for the faint of heart. But leaders who embrace change and stay true to their core values and reward the best and brightest, will win in the end.