Company Success Factors
This third blog completes the "Success Factors Blog Trilogy” series. A technology company consists of a number of functional groups which, in turn, are made up of individual contributors.
The trilogy of blog defines the main success factors associated with these 3 elements: the individual contributor (first blog), a founding team (second blog) and finally, the company as a whole (third blog). In order to have an outstanding outcome for any venture, all three elements must accomplish their respective goals and objectives effectively.
I believe that the most fundamental pillar of a successful organization is the company CULTURE. Culture should be embedded within the very DNA of the company and the people that work within it. It is the glue that binds and connects all elements of the business. It defines the values that employees of a corporation exhibit both in dealing internally with each other, as well as in their external dealings with suppliers, partners and customers. Below, I have highlighted a list of core values and attitudes that are the key elements of a winning culture.
- Unified vision - A company must have a single high level vision that is embraced by each employee in order to be successful. Michael Jordan, arguably one of the most successful basketball players in history, demonstrated this element best when he said “single team single dream,” in reference to the Chicago Bulls team success.
- Winning can-do attitude - A can-do attitude makes complex tasks appear more manageable. Conversely, the opposite is also true – a poor attitude can make a complex task insurmountable. Collectively a team must come together to accomplish the overarching goals of any organization. When examining winning teams in the NFL, NHL and NBA you’ll find that a few teams tend to have more consistent and successful records than others. These teams experience higher win to loss ratios than their competitors as a result of their cohesive optimism.
- Innovation - For a company to endure and grow in a competitive market place, it is essential for all functional groups in the company to embrace the “Innovate or Die” approach. It is valuable for a company to always look forward and search for new ways to reinvent itself to remain highly competitive and current.
- Transparency - Information sharing must be carried out by all levels of the organization starting with the leadership team. Leaders should make their work tasks and progress visible and available to all members of the team. It is simply a case of a cause and effect exercise; sharing information with the company’s employees on a regular basis and in a transparent fashion (Cause), will create a well-informed, motivated team that can embrace the vision (Effect).
- United front - Each person on a rowing team can have their own style to prepare for the race but once in the boat, they must row in rhythm, with the same vigor, and in unison in order for the team to be the first across the finish line. Similarly, each person in the company is unique but must present a common front externally.