Little Summaries of Company Building: Part 9
Little Summaries of Company Building: Part 9
Previous Notes:
Observations from experiences on company building:
- Little Summaries of Company Building: Part 1
- Little Summaries of Company Building: Part 2
- Little Summaries of Company Building: Part 3
- Little Summaries of Company Building: Part 4
- Little Summaries of Company Building: Part 5
- Little Summaries of Company Building: Part 6
- Little Summaries of Company Building: Part 7
- Little Summaries of Company Building: Part 8
Observations from experiences on company building:
- Ideas: Formal and informal company meetings result in the discussion of tons of ideas. Execution is the true differentiator test of any idea. If it succeeds, it was a good idea. Like life, hindsight is always right. Encourage and reward the team members who take the risk of executing upon a new idea. And reward successful idea execution in a disproportionate way. This is also a simple method to separate the leaders from the follower pack. As a business owner, keep in mind that both leaders and followers are essential for the business. A simple variation in incentives works.
- Inclusive: Creating an inclusive culture and work environment is hard. Our biases hinder inclusion. One good way is to treat the inclusion process as a journey. Start somewhere. Keep improving. Maintain rigor. And keep going. After a point, companies think they have become inclusive enough. And then they get a shock. That is why it is a good idea to remove "enough" when embarking on this journey.
- Gems: Every company has gems. Think of them as flowers. Some blossom early. And some take time. Identifying them early on is a super rare skill. And doing so on a consistent basis is even harder. If you keep observing and listening, it gets easier. As a business owner, another way is to think of gems as money! Treat it well, and it grows.
- Decisions: Most people are good at taking decisions on good things. And they try their best to avoid the bad. That does not work in business. Doing so is like letting a tooth decay. It won't hurt right away, but if ignored for long, it needs removal. And the damage spreads.
Let's Talk: If you have a true experience that resonates, please send me an email.
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