One factor which separates successful start-ups from those that don’t succeed is the company culture which is created and fostered by the founder. This culture permeates every aspect of the business, from the way in which employees dress to company meetings, marketing strategy and branding. As with civilizations themselves, the most successful companies on Earth are those which create and foster a distinct culture which allows them to grow, expand and capture increased market share. Below are some tips on ways you can accomplish the same for your enterprise.
Just as civilizations go extinct, so do companies, and the reason is largely because of a failure to adapt to changing times. When a company is first established, adaptability should be built into its foundation. Change is inevitable, and companies which develop a culture which is open to it will always have an edge on those that don’t. But the most successful companies of all time (enterprises that last 100 years or more) are those that are not only open to change, but who forecast and foment industry change by setting trends.
Stand for Something
Most businesses fail within the first five years because the only thing they stand for is making a lot of money. This is simply not enough to make it through the trials and tribulations that every business must go through before it emerges as a serious market player. The most successful companies on Earth made it because the founders stood for something beyond merely making a lot of money. This is manifested in the mission statements or mottos that every successful business has, and these mottos are often created in a way where time and technology cannot erode them.
BMW is a classic example. Their motto is “The Ultimate Driving Machine.” This is more than just a motto; it is what the company stands for, a part of their company culture. This motto is also adaptable to changes in technology, because as long as humans drive vehicles of any kind, the company can continue to build the ultimate driving machines for this task. It is BMW’s motto, and their decision to base their company culture around it, which has allowed the company to enjoy its 100th year anniversary.
Treat Your Employees Lavishly
Too many companies today are in a race to the bottom. When hiring workers they prioritize those that will accept the least pay and benefits, and then wonder why these employees perform poorly or are quick to jump ship as soon as a better offer comes along. The most successful enterprises in the world are those that recruit the best and treat them lavishly. They create an environment where employees become loyal to the company, because they feel as if they are a part of the family. Another way to increase employee productivity and motivation is through the implementation of payroll software that is transparent and simple to use.
Times are changing and employees want a larger slice of the cake. Smart business owners understand this and are creating lucrative incentives to recruit top talent, such as profit sharing systems, sign-up bonuses, and many other perks. A company which creates a culture that values and lavishly rewards workers will never have a shortage the best talent their industry has to offer.