There’s a huge correlation between a company’s corporate culture and its business results. And if you have negative atmosphere in your workplace, it’s going to negatively affect your results. Whether it’s the small things like when someone makes a snarky comment to someone else. They might not mean to criticize, but the person will get offended.
A company’s culture is more than just having good employees and managers; it’s the way they all work together towards common goals, how they handle problems, how they celebrate success, etc. If there are any cracks in your corporate culture and people aren’t coming together as one team, then it will show in how your business performs — it will be reflected in your financials every quarter.
This blog post is written based on an Anatoliy Labinskiy podcast episode with Robert J Miller.
Your business model isn’t something you just put together piece by piece. It’s an overarching framework that influences the way you think about your business and its various components. Essentially, you just got to look at three different elements of your offering, of your business model.
They are platform, process, and people.
Understanding those three pieces essentially could help you to determine where the issues are lying in your business and where you need to fix and adjust.
First, whenever there’s an issue with Facebook or Shopify, or an issue with any of the platforms, there are some things you can do and some things you can’t do, right?
Next thing is the process. So if there are no issues on the platform itself, then it’s how you’re approaching that entire distribution or that entire campaign, or how the Facebook shop’s working, right? It’s the process of what you’re actually doing.
If number one and two are totally fine, then it’s the people and you either need to retrain them or you need to fire and rehire better-performing members into your team. This is number three.
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Usually, the biggest challenge is to hire and rehire people. It is not only about bringing to the team an A-player. It is about the culture of your organization and what kind of culture new people bring to the company.
You don’t want to have a CEO or an executive that’s just kind of sitting at their place and not doing anything, or not contributing to the team and not leading them. If you look at birds, they are flying in V formation, the one in the front is the leader, right? And they’re a leader for a reason, because they’re actually making the draft easier for the others behind them.
As a leader, your job is to help your team grow, develop, and adhere to a higher standard. Because as you grow, as an entrepreneur, your standards are going to raise, and this is not only your financial thresholds.
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That’s why it is necessary to lead the team to transparency and communication, at least at monthly all hands calls to discuss what the company is doing and where it’s going. What’s the new standard? What are we doing well? What are we doing poorly that we need to change?
To keep the team on track and in the loop, as well as on task, the leader must be certain that everybody understands expansionary goals and expansion plans. It’s a really hard job to hold each other accountable for this. Don’t micromanage, just control to be sure that the output is of the highest quality.
In order to achieve company’s goals, we need to do this small task, because this contributes to X department and X department to Y one, and then we all get to win together. But without that one thing or these seven tasks being done, X employee or X team member will lose their job. Therefore, you don’t want to hold your colleagues back by failing to complete these small jobs. So you don’t want to be the person that holds teams back?
Billion-dollar Fortune 1000 companies spend billions of dollars each year on pointless meetings that have no clear agenda and no clear objectives. In addition to the fact that people like terminating their jobs in secret and extracting the most from the company, we're currently experiencing a time when we need to have very specific goals for our meetings.
To ensure that your corporate culture blooms, you must make sure that the standard is well-known and that it is unacceptable to fall short. It is your main task as a leader.
You must also make sure that, if your business has numerous departments, there is a clear delineation of responsibilities. In addition, you must also ensure that there are clear distinctions between the responsibilities of your company, you as an entrepreneur, and your marketing, sales, and operations departments. In addition, your client service should be broken down into an assembly line. Both the fulfillment and company assembly lines must exist.
I hope this helps you to understand how corporate culture influences business results of your company. To get more insights, watch the full version of Anatoliy Labinskiy's podcast>>.