In my last post, I covered some of the basics for charting a course towards a liquidity event for your business. Today, I’ll dig a little deeper into some of then things required for a healthy, growing business.
BUILDING A STRONG TEAM
Having the right skills and talents on your team is imperative to successful operations. In many privately held businesses, not enough care is taken on staffing your business with the right people. Business owners should retain professionals to help build the team.
COMMON, CONSISTENT MANAGEMENT METHODOLOGY
Most organizations lack a common methodology to operate their business. A system of goal setting, problem solving and accountability must be put in place, maintained and utilized by all in management to ensure that everyone is playing from the same sheet of music.
Building a healthy, values based culture is essential to long-term success. Building a culture where people are treated with dignity and respect and where honesty and integrity are hallmarks of the organization goes a long way towards attracting and retaining top talent.
Make continuous learning a “condition of employment” in your company. Encourage and, in fact, require employees to constantly be skill building not only their technical skills but their Leadership and Management Skills as well.
Create a Coaching Culture where people at all levels learn from each other.