Team is the Most Valuable Asset.
Many great ideas have failed where other fair ideas have succeeded, guided by the skill and trust of the teams who deployed them. In any company we consider, the team is both a core stakeholder and the most important element. Growing a great company starts with a shared vision embraced by the team, as they will be at the core of that growth.
Product at the Core of Everything.
Marketing and sales are important business functions, yet neither can make up for a dysfunctional service. Product is the nexus through which a company connects with Customers, that which the Team stewards, and should always be top of mind for leadership. Any company we interface with should give Product the respect it deserves.
Coaching Matters.
While a company’s team is its most valuable asset, it is a leader’s job to elevate their team. Digitization of hiring has led many companies to view recruiting as a one-stop solution to team woes; though good companies recruit well, great companies also better their employees. Coaching is the axis through which a great company can elevate its staff and is core to the mission of a business.
The Best Customers are Partners.
If the purpose of a business is to create something of value for others, then the Customer is the arbiter of that mission. Though businesses are able to craft new products and services, Customer relationships often outlive the underlying product. Great businesses learn from their Customers, understand their desires, and ultimately build a persistent relationship driven by mutual success.
Hesitate Before Knocking Down Fences.
Business processes, much like fences, are created to focus efforts and block out distractions. Building these processes is deliberate and requires focused work. We would expect a well-built business process, steadily accomplishing its purpose, to disguise its original need. While it is sometimes needed to change functions and knock down fences, a wise leader is very deliberate in discovering why the fence was laid in the first place.
Don’t Lose what Makes You Great.
Growing a business requires change, creates new processes, and necessitates building upon what is known. Yet many companies with great potential, distracted by what they want to build, mistakenly lose what has made them great so far. Thoughtful leadership demands understanding what makes a business great today, with special care given to preserve that.