Wednesday, September 5, 2012

The corporate culture paradigm of a hypergrowth company

In order to grow -- and grow quickly -- a hypergrowth company needs to develop a culture that celebrates innovation, encourages risk taking, and understands the value of breaking new ground over cultivating previously tilled soil.

At Stroll, we work to engage each employee in our cultural mission and empower them to take action and make decisions that encompass our core believes to improve the company's performance and bottom-line results.

From this base, we've also developed five other crucial qualities that drive our ability to continuously unearth wide-ranging opportunities and outperform our targets. We wanted to share them to help you turbocharge your business. Here are the cultural underpinnings that are crucial to creating a hypergrowth company:

1. Entrepreneurial. Every team member at Stroll has a passion for the business, which is fueled by the entrepreneurial nature of our CEO, Dan Roitman. He injects excitement into the company and drives us all to excel. He's engaged, approachable, and unrelenting, constantly questioning our assumptions and planting seeds of change that result in continual improvement to our operation. Dan consistently walks the floor of our business to discuss the day's assignments, tasks, and goals. He doesn't so much as look over our shoulders, rather he serves to constantly ignite our entrepreneurial spirit by challenging us to think differently, make change, break assumptions, and optimize our performance while maintaining a laser focus on Stroll's growth objectives.

2. Transparent. Our executive team shares Stroll's operating plans and financial updates with the entire company, so everyone knows the organization's short- and long-term goals, and how the business is progressing. We also are privy to our ad campaigns' progress and bottom-dollar results. As a result, employees feel part of the company's success and have a greater sense of accomplishment. When we see a bottom-line result at the end of the month or quarter, we know that our contributions made a difference.

3. Open. No meeting is closed at Stroll. In fact, we require employees to attend and participate in meetings with other teams. For instance, our financial professionals join IT meetings, IT attends marketing meetings, and so forth. The purpose is threefold:
  • We want to keep each team member plugged in to the parts of the whole. By understanding the company as a whole, team members are better able to offer meaningful suggestions that contribute to overall growth and profitability.
  • Openness increases awareness and provides for a greater understanding of how job responsibilities link to and affect those of their colleagues.
  • Openness fosters a culture of sharing that improves performance.
I'm planning to write more about our culture of sharing in an upcoming post.

4. Dynamic. Our priorities change frequently as we identify new business opportunities. We've built a fast paced environment that strives on change and has the ability to jump gears, realize and achieve new objectives. Today's hot marketing channel might be abandoned tomorrow. In moments, team members of a hypergrowth company must be able to re-channel their skills toward the new strategies that yield the greater results.

5. Supportive. We've built strong camaraderie at Stroll, and we look to each other for support, new ideas, and fresh ways to solve problems. In addition, we celebrate and reward hard work and success in a variety of ways, both large and small. There are promotions, of course, and raises. But also there are celebratory dinners with executive management, order-in lunches, $20 gift cards, and half and full days off awarded for jobs well done.

Culture is not just one thing needed to build a hypergrowth company. Instead, it's perhaps the most crucial thing. Success hinges upon people, and their performance is determined by the cultural paradigm you create as the owner or manager of a quickly growing company. A strong culture binds your team, creating an integrated unit that works together to develop solutions and forge a common path to reach your business goals.

No comments:

Post a Comment

To prevent spam, all comments are moderated. Please allow a few minutes for your comment to be reviewed and approved.