CULTURE, CULTURE, CULTURE...
‘Not everything that counts can be counted and not everything that can be counted counts.’
Whether it is your values, your vision, your mission, your purpose, etc…
Chatting with your team, making some decisions, writing them down and then working on the more intangible parts of your business can make an incredible difference towards performance.
This is true under normal circumstances, and even more so right now, here are 5 quick reasons why…
1. Values help to inform the big, close-call decisions.
For most leaders, the answers to most decisions are quite straightforward. It is the close-call choices which proves the most challenging and time-consuming. Having a clear and concise set of values help to make these big decisions easier and more rapid. Necessary for any growing organisation and particularly one operating in today’s challenging business landscape.
2. Amplifies perceived value for customers.
Customers buy what you do but will pay more for the security of having it done in a certain way. Whether it is the speed of your pizza delivery, the reliability of your internet provider’s download time or the enhanced product knowledge of your staff. The benefits of some small, concentrated improvements in the way a product or service is delivered has an amplified effect on perceived value.
3. Gives management more autonomy.
A clear set of written values gives management a clearer idea of what is required in those rare but troublesome occasions when things happen that shouldn’t – for example dealing with a particular type of customer complaint or a rare staff issue or some kind of system breakdown. In each and every occasion when a policy/procedure will not cover it – and they can’t cover everything – values are much better for empowering staff.
4. Purpose driven companies are more memorable.
Purpose-driven companies with a clear set of values or recognisable company culture stand out more in the marketplace period. Whether it is Brewdog’s punk attitude, Amazon’s customer-centricity or Tesla’s commitment to cleaner energy. Standing for something is much more likely to make your brand more memorable with customers, suppliers and staff. Particularly important in this noisy world.
It also removes the need for so much marketing. When your product or service become the star – you don’t need to promote so aggressively. How many memorable ads have you seen for Amazon? Or Tesla? Or Google?
5. Helps with marketplace disruption.
With Coronavirus giving headache-after-headache to many business owners at the moment – getting back to basics and thinking about who you are, what you do and why you are doing it in the first place could be the one of the most powerful things you do. Clearly knowing that information gives you the opportunity to re-imagine your product/service, where to invest your time and resources, who to serve and more critically who not too… This was already true with so much digital disruption going on in the first place and as mentioned even more so now with Coronavirus and an ever-changing business landscape.
Formalising company culture is something that I have done many times for both my own companies and some of our clients with the loft, it’s one of those exercises that is just so much fun, if you’re looking for some help to do it with your own organisation – please don’t hesitate to get in touch…
Get in touch
Benedetto is always excited to hear about new ideas and exciting plans. Drop him a line…
+44 (0)7534 273 252
Or check out his work with the loft