I recently attended an alumni gathering where a fellow alum shared his story about how he built a rapidly growing successful business. He told the usual story of humble beginnings. I’m sure you can relate:
Two guys with a big idea and no money sharing one computer and bootstrapping everything they could keep from starving.
As the story continued, he chronicled how they are now over $100 million in revenue and growing steadily. He is in an industry where there are literally a thousand competitors. He explained how important it was for them to focus on a niche and do it better than anyone else in the market (something EOS companies know of as “Core Focus”). He then went on to explain how they built their values around serving that niche really well by offering exceptional service, following through on their promises and maintaining their integrity.
Then he said something that struck me. He said they recently realized that the unspoken value was their culture. It was almost accidental, but it was the glue that made everything else possible. As a result of culture, he said everything else takes care of itself:
- They are able to recruit great talent because talented people want to work there.
- They can be selective with the available talent pool to find people wired to serve their niche.
- The talented people drive the company’s growth and maintain its margins.
- The higher margins and growth result in well above average salaries, bonuses, and company outings.
- The buzz about the compensation and culture draws more talent.
And so the cycle goes.
This is a company in a highly competitive field that is very price sensitive. If they can do it, so can you.
To learn more about how EOS can help you get results like these, contact me.