5 Habits Of Effective Companies

5 Habits Of Effective Companies

I ran across an article from Entrepreneur Magazine the other day, and even though it’s a few years old, it had some great points that outlined why some companies just do it better than others. It answered questions like:
  • Why do some companies excel while others plateau or go stagnate?
  • What are the winners doing differently?
If these are questions you’ve been asking yourself, here’s a brief summary of the 5 habits you can start working on today!
  1. They have a purpose, not just goals. All companies have goals…it’s what drives us forward in all areas of our business. But the goals should also serve the overall purpose of your company or have purpose behind them. And the key is that the majority (or all) of your staff know exactly what that purpose it.
  2. They’re process-driven. In the early days of growing a company (or sometimes during a downturn) where resources are stretched thin, the priority is simply on keeping the doors open. There’s a quote from former Indian President A.P.J. Abdul Kalam, “Excellence is a continuous process and not an accident”. A big part of that continuous process towards the pursuit of excellence is to set up processes, protocols and structure across your company and constantly refine them.
  3. They’re constantly improving their offering. Remember the old saying “Complacency is the enemy of progress”? For a company to thrive they must always be asking themselves how they can make it better. Successful businesses are the ones who put innovation at the top of the to-do list, which is not just the improvement of the existing processes, but the regular introduction of accompanying products & services.
  4. They go above and beyond for their employees. As Richard Branson says, “Take care of your employees and they’ll take care of your business”. Truly successful companies, like Branson’s Virgin Group, take another step: they get to know their employees to tailor a flexible benefits package that helps them feel engaged, empowered and individual. From encouraging a healthier work-life balance to providing access to health & fitness programs to flexible hours or workspace, companies can tailor these to meet their needs.
  5. They foster a culture of accountability with lots of communication. Even though these sound like two different things, in a company setting you need a heavy dose of both working together to be successful. Accountability requires clear communication about who is responsible for what and a process for clearly communicating the results of those accountable.
Taking a look at this list, how does your company measure-up in these areas? Are you able to or have you been implementing these practices in your organization? Change isn’t easy but it’s necessary to continually evolve and grow your business!
Laura is the owner of Elite Virtual Assistants whose on-demand staffing options can help make your current company, team or organization more effective starting today!
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Laura Licursi Elite Virtual Assistants Founder