Whether you’re a top exec or a budding entrepreneur, I guarantee that you’ve got growth on your mind; if not, you should! Two topics that can drive your growth agenda are Globalization and company culture.
Be global (or not)
I’ve recently returned from a trip to Europe, and my time out of the U.S. reinforced the importance of keeping a broad and objective perspective on where and how you can market and sell your product or service.
Although Millennials and Generation Z are more inclined to see globalization as a must, the opportunities of taking your business to a global level often make the case for any small startup or large corporation.
Fruitful partnerships can be established with entities outside of the U.S. to grow your company more quickly using their expertise and networks. Additionally, having access to your partner’s perspective on business and consumer trends in their country can be very meaningful for your entire company.
Strategic planning on global expansion should be part of your annual business planning process. Knowing what you want to do is sometimes just as important as knowing what you don’t want to do and why you are leaning toward one idea or another. With globalization comes risks, challenges, and opportunities. New and unique ways of doing things in one country can come from successful business practices in other countries. For example, the Netherlands created a flower auction process to efficiently enable all their flower producers to quickly sell their highly perishable products all over the world. The auction is so successful, that flower producers from many other countries ship their products to Amsterdam to utilize this auction to broaden the market of buyers for their flowers. The auction is a great example of using another country’s capabilities to grow the market for your products.
Be likeable (or not)
One of the most interesting topics lately has been the impact of corporate culture on business success. Whether it’s about attracting customers or employees, being a good corporate citizen, or forming a strong company culture, these elements seem to be more important than ever for strategic growth.
A distinct company culture can provide your business with a strong identity that your clients and employees can connect to, whether they are looking for a product or searching for a job. Your values are based on your identity, and with a strong foundation, retention efforts are enhanced and brand image is improved.
For employees and clients alike, they assume that what they see is what they get. Your image starts inside your company doors with identity, and as long as you are projecting your brand in an effective and transparent manner, your followers will want to be a part of what you’re doing.
Take a reflective pause and consider how your company is represented to the community and what your brand says about the inner workings of your business. Is your business likeable? Do you know the answer to this important question? Have you checked your Glassdoor recently? I bet your potential customers and employees have looked. Take some time or hire a good reputation management firm to actively work to improve your corporate “likeability” factor. It’ll be worth the time and effort when you see your company grow.
There is never a one-size-fits-all approach to company success; stay true to who you are as a business but always approach each day with a growth-oriented agenda. Consiider the important issues of globalization and corporate culture and how they affect your company.
Good luck on your growth journey!