Great companies are founded on passion. While leaders and business owners often possess this passion in abundance, it can be a challenge to translate their passions into a strong brand and culture that will stand the test of time as they grow. The following are key elements that must be defined to form the essence of a strong culture, engaged employees and a strong business that has the ability to go from good to great – and stay there:
- Values: These are the foundations for making decisions and taking action that must be consistent throughout all marketing and interactions with your customers. Your values define what you stand for and how you do things. They are essential for attracting and retaining not only customers, but great employees.
- Purpose: Research shows that great companies have a strong “why” for being in business beyond simply making money. This sense of purpose inspires employees to persist in doing great work despite the inevitable challenges in any business. It also provides the foundation for an engaging brand story that will attract and retain customers over the long term.
- Vision: A clear and compelling vision is essential to support the leader’s ability prioritize and focus on the activities that are most important for achieving it. Without clarity of what you are trying to achieve, the leader (and future team members) are prone to reactivity.
- Strengths: Understanding the unique strengths and differentiators of your product, service, and company are critical for developing and implementing an effective marketing strategy.