NEED TO CHANGE YOUR BUSINESS CULTURE? | The Melting Pot Newsletter | #90
THE 10 MOST IMPORTANT FEATURES OF A STRONG AND POWERFUL CULTURE
You know business culture is important. But you’re not entirely sure why. Or how to influence the culture in your own business. Culture is an ephemeral thing. It’s often hard to get to the root of why one business’s culture is more successful than another. One thing is clear though. Strong cultures create happy workplaces. And happy workplaces make for more productive staff.
For me, a powerful culture centres on assembling a high performing team and enabling them to work effectively to drive a specific outcome. This is what happened at Rackspace and Peer 1, where we worked hard to create the right environment for talented people to do their best work. The result? Both companies grew from zero revenue to £30 million in just five years. A pretty stratospheric growth curve, particularly as this growth took place through two recessions.
So what did I learn from my experience as MD of these companies? What are the 10 most important features of a strong and powerful culture?
Navigating High Uncertainty Environments with Rita McGrath
Are you wondering how your business is going to survive not just the remainder of the pandemic, but the looming recession too? Perhaps you’ve realised you need to rewrite your business strategy but you aren’t sure what you need to focus on? Then you’ve come to the right place.
Rita McGrath is a best-selling author, a sought-after speaker, and a longtime professor at Columbia Business School. She’s one of the world’s top experts on innovation and growth and is one of the most regularly published authors in the Harvard Business Review and a frequent speaker on business strategy. She’s the perfect guest to discuss how leaders can navigate these imminently choppy waters.
In this episode of The Melting Pot, Rita, whose expertise lies at the intersection of strategy and innovation, discusses her incredibly useful model for rapid portfolio review and what she calls ‘discovery-driven growth’. I.e. how do you find things that you can drive revenue from, not just now, but in the future too.
Best-selling author Whitney Johnson (“Disrupt Yourself”) explores her passion for personal disruption through engaging conversations with disruptors. Each episode of this podcast reveals new insights about how we work, learn, and live.
Videoconferencing has been around for more than 20 years. Until the pandemic, though, you would find that many if not most people needing to attend a meeting remotely would be calling from a real conference room full of their teammates. Today, we’re routinely holding videoconferences that are 100% virtual. And that introduces a problem technology can’t fix.
Achieving high performance requires having the confidence to take risks, especially in a knowledge-intensive world. When an organization minimizes the fear people feel on the job, performance — at both the organizational and the team level — is maximized. But how do you make your organization fearless in a way that builds its capability?
From the outset of the coronavirus pandemic, Sherry Bahrambeygui was sure of one time-honored adage: Take care of your employees, and they will take care of your business. Bahrambeygui, who is CEO of San Diego-based PriceSmart, a $3.3 billion operator of warehouse clubs, acted swiftly in February when the early signs of COVID-19 were visible.
SCALING YOUR TECH BUSINESS BY DOMINIC MONKHOUSE
Calling all CEOs, Founders and Managing Partners! Learn valuable scale-up strategies in a brand new book by the UK’s top tech industry business coach, Dominic Monkhouse. Dom has a track record of scaling-up award-winning technology businesses, including two UK based companies from zero revenue to £30 million within five years. Now he is sharing the secrets behind his success in a new book, FREE to all Melting Pot subscribers. The download will be available very soon. Watch out for your copy!
A manifesto of business practices for those who sell ideas and advice, The Win Without Pitching Manifesto lays out twelve steps – in the form of proclamations – that owners of creative businesses can take to distance themselves from their competition, regain the high ground in their client relationships and learn to win business without first parting with their thinking or writing lengthy proposals. The twelve proclamations were written to inspire owners of independent creative businesses (e.g. design firms & advertising agencies) to rethink how their services are bought and sold. Anyone who sells ideas or advice will find relevance in their teachings.
MEANINGFUL ACTION FOR MONDAY
Is there someone in your team that’s doing something that lets them down? Maybe 90% of their behaviour is perfect but there’s one thing that you’re letting them off, even though it’s bugging you and the rest of the team. Have that difficult conversation now, before the behaviour gets more embedded. It’s far better to nip problems in the bud. In my experience, they probably won’t even be aware they’re doing it and will appreciate your honesty.