When you go into your own business, do you have a place to go, a paycheck, and a position? You basically have a job. However, when entrepreneurs go into business, they look for the big payday, the selling of their business. Would it be nice to sell your business for 10 or 20 times your annual salary?
Building a business is not easy. If you are going to put your efforts into building a business, build a business with a great foundation. It is easier to build value in a business with a good foundation. Let’s assume you have systems in place and a business presence. What is needed for real growth once you get through the systems and organization formats, is to create and develop a business culture!
By having a business culture, marketing and recruiting get easier and less expensive as people are more attracted to your company. Long –term employees get to know the business, your customers you’re your suppliers. They become more efficient and become the “team”. You will attract better quality candidates to hire. You can become more selective and create the right roles for your employees.
Go to Trader Joe’s and ask the employees how they like working there. You will soon find out that there is little stress, a lot of fun, and the employees want to be there working side by side with each other.
When employees are happy and like their jobs, they stay, they learn, and they attract investors and future purchasers. This culture promotes profitability and consistency, which is how you maximize your potential profitability of the company. Consumers like consistency and the added value of having a company that is easy to work with. I like to call this the “Amazon Factor”. Who doesn’t like ordering from Amazon? They make it easy for many reasons.
Having this type of environment doesn’t automatically happen. You need to invest in it to create it, however, it will pay off in the future. They key is to start early creating the vision you have for your company long-term. Create the vision of being the “All-Star Employer”, and you will attract the best, like minded employees, and create a great business that people will want to work at.