Over the years, I have worked with over 750 small to medium size business owners. A few of these businesses were corporately owned, but the majority of them were family owned and operated.
Many of these business owners were truly inspirational. They wanted to make a difference in the lives of their customers and the lives of their employees.
As we all know, running a small business is actually harder and more time-intensive than running a large business — because you, the business owner, need to be directly involved in all major decisions, especially during the early stages of growth.
To successfully transition from a “working out of the garage” start-up to a rapidly growing small to medium-sized business, you need to transform the way you approach your business.
Here are four strategies you can implement to ensure your transformation is built on a solid footing:
- Clearly state your vision so that everyone understands it
- Create a culture of employee advocacy
- Make data-driven decisions
- Preserve the “startup” mindset
1. Clearly State Your Vision
The GFB (Gluten Free Bar) is a company in Grand Rapids, Michigan. I met members of the team at the Fancy Food Festival in San Francisco earlier this month. When I returned to the office, I did some research on the company and the first thing that impressed me was the clarity of their vision statement.
“We make good-for-you-food in good-for-you ways”
Pretty easy to understand — Right?! I think it is one of the best-written vision statements I’ve ever read — especially because GFB embraces every element of its vision using quality ingredients that are non-GMO verified, certified vegan, certified gluten-free, certified kosher, and mostly organic. It’s pure genius.
Always remember, if your team can’t recite what the company does in a few simple phrases then you need to rethink your vision.
2. Create a Culture of Employee Advocacy
Advocates are people who publicly support or recommend your brand to others. To have a high performing organization, you want every one of your team members to be advocates for the brand.
The best way to establish employee advocacy is for you to be an advocate for your employees. Treat them as you yourself would like to be treated — this means:
- Take time to get to know your team — show appreciation (even small gestures mean a lot) — truly support them (in ways they want to be supported).
- Provide them with opportunities for growth and learning — then trust them to get the job done.
- Respect their individuality knowing that highly diversified teams are by far the most creative and productive.
- Demand integrity from yourself and everyone on the team.
- Solicit open feedback, encourage healthy debate, and learn to have fun productive meetings.
Without employee advocacy, customer advocacy is unattainable.
3. Make Data-Driven Decisions
All of us have been in meetings where recommendations begin with these words: “I feel…”, It’s my opinion…”, My gut is telling me…”, “I think…” or a myriad of other emotion-based statements.
You, as a business leader, need to ingrain in your organization the practice of making recommendations and decisions based on data. Leverage data and analytics to monitor the effectiveness of your decisions. Discuss findings with your team and don’t be afraid to rapidly innovate. Fail fast and test often. This methodology applies across all organizational functions and disciplines.
“Measure what is measurable, and make measurable what is not so” ― Galileo Galilei
4. Preserve “Startup” Mindset
When a business is in startup mode, expenses are kept low, energy levels are high, and creative “can do” thinking proliferates the organization. It’s fun — it’s exciting — it’s everyone pulling together to make something great.
Exceptional organizations organically imbed a startup mindset into their DNA. These companies remain lean, think creatively, and continue taking risks.
Strong work ethics, commitment to customer advocacy, and the ability to stop and celebrate your successes as a team is also critical to preserving a “startup” mindset.
And always remember…
“If you’re going through hell, keep going.” — Winston Churchill
This article was written by Richard Matheson of Markacy.
Markacy is a different type of strategic growth partner for leading brands and startups. Our leadership team brings decades of deep expertise across strategy consulting, sales & marketing, advertising, and business management. We bring together a diverse set of capabilities to help our clients execute integrated growth strategies grounded in cross-channel data and analytics.
Get in touch today at info@markacy.com and connect with us on Instagram, Facebook, and YouTube to learn how we are helping great brands make their mark.
