Title: 3 Ways to Create a Valuable Culture Inside Your Business
Posted on 29th August 2023 at 11:23
When it comes to building a thriving and valuable company, there's a critical factor that often goes overlooked: the culture within your business. Your company's value isn't just about the products or services you offer; it's also about the people who work tirelessly to make it successful. To ensure your business thrives even when you're not around, you need to inspire owner-like effort from your team. This effort is nurtured by cultivating a vibrant and motivating culture inside your organisation. In this blog post, we'll explore three effective ways to get your employees to care as much about your business as you do.
1. Cast Your Employees as Stars in a "David vs. Goliath" Movie
In the story of Sendible, founder Gavin Hammar faced a challenging situation when a major competitor entered the market. Rather than sugarcoating the problem, Hammar encouraged his team to view themselves as underdogs in an us-against-the-world battle. This approach transformed Sendible's culture by positioning the company as smaller and more relatable. Here's how you can apply this strategy:
- Transparency: Be open and honest with your team about the challenges the company faces. Encourage them to see these challenges as opportunities for growth.
- Personalization: Humanise your company by showcasing your employees online, sharing their stories, and highlighting their achievements. This makes them feel valued and part of a larger mission.
- Engagement: Foster a sense of unity by engaging with customers personally. Whether it's through podcasts, video messages, or personalised messages on social media, showing a human side to your business can inspire your employees to go the extra mile.
2. Provide Perks Others Can't
The story of Postmark, a SaaS company, illustrates how offering unique perks can shape a thriving workplace culture. The founders, Natalie and Chris Nagele, chose to self-fund their business, allowing them the freedom to implement a four-day workweek based on research from the Henley Business School. Here's how to replicate their success:
- Prioritise Employee Well-being: Invest in benefits and policies that prioritise employee well-being. A four-day workweek, flexible schedules, or generous parental leave can make your company an attractive and fulfilling place to work.
- Ownership: Self-funding your business or having more control over your decisions can enable you to experiment with employee-centric policies without external pressures.
- Consistent Growth: A healthier workplace culture, as demonstrated by Postmark, can lead to consistent business growth and even a lucrative exit strategy.
3. Gamify Your Business
Josh Davis, the founder of Speedee Transport, turned his business into a game to boost employee performance. He created quoting software with a virtual gross margin scoreboard, making performance objectives clear and competitive. Here's how to gamify your business:
- Transparency: Develop a system that provides employees with clear, transparent metrics related to their performance. This not only motivates them but also keeps everyone on the same page.
- Incentives: Tie employee compensation to key performance indicators (KPIs). Offering rewards for achieving and exceeding targets creates a culture of healthy competition.
- Growth and Recognition: As seen with Speedee Transport, gamification can lead to rapid growth and attract potential acquirers interested in your thriving business.
In Review
Creating a valuable company isn't just about your products or services; it's about the culture you nurture within your business. To inspire owner-like effort from your team, make them feel like an integral part of a shared mission. Offer a working environment that brings out the best in them. Whether you cast your employees as stars in an underdog story, provide unique perks, or gamify your business, these strategies can help you cultivate a culture that propels your company to new heights, even in your absence.
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