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7 Common Traits Every Growing Company Should Possess

Updated on May 20, 2019
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7 Common Traits Every Growing Company Should Possess

7 Common Traits Every Growing Company Should Possess
7 Common Traits Every Growing Company Should Possess

There are countless examples of legendary entrepreneurs and their journeys known to you from where you can seek some common tips and techniques to learn about growing your business. There are thousands of books written about how to make a company successful, and on life as well. You can find another bunch of articles on the internet that discuss the same topic and a thousand more will be written tomorrow. With such a broad topic and so many things to discuss, it’s difficult to narrow it down to a short list of things that anyone can read and apply in their businesses.

However, across these thousands of books and articles, legendary entrepreneurs and their journeys, you will find some common threads existing between them. But won’t it be great to find the ultimate list of must have characteristics that can be easily adapted to stand-inspire a company. Here are 7 Common Traits Every Growing Company Should Possess.

Being Fearless

Being Fearless
Being Fearless

Being Fearless

: Every entrepreneur goes through a voyage of committing a series of mistakes & deriving lifelong lessons from them, understanding consumers’ mindset, catching the current drift of market trends, and a ready to take risks attitude. It’s not always good to be over cautious but growing companies separate themselves from the crowd by taking calculated risks and managing their fears.

But the true test of a fearless company begins right from initiating a conversation and developing a social network, negotiating and closing sales on a major deal, terminating ties with a partner who is causing harm to the venture, and perhaps the most crucial one is staying rock solid and fearless irrespective of the thrown challenges.

Co-founder and Creative Director of Flywheel Sports, Ruth Zukerman, divorced and cornered at one point of her career managed to pull herself out of fear and fought with a vengeance for a determined and successful life. This is just one example. There are numerous other stories of influencers, opportunity makers, and investorpreneurs, who took risks, defeated adversaries, and emerged victorious in the work of business.

Understanding financial nitty-gritty

Understanding financial nitty-gritty
Understanding financial nitty-gritty

Understanding financial nitty-gritty

You may find consulting companies offering financial guidance to aspiring entrepreneurs. We know the tales of tycoons whose company began from a basement or garage and later climbed to the highest peak of financial success. However, not every company shares a similar story; few flourish while few give up. Other than a million dollar idea, a start-up company actually needs, if not a million then some substantial amount of thick blanket of financial security to give it time to find its feet in the market. . Therefore, financial literacy based on the market insights becomes necessary.

Bruce Poon Tip, Founder of G Adventures was fired from McDonald’s at a younger age but this turned out to be the best thing that happened to Bruce. This setback made him realise that it’s time to work for himself. At that time, Bruce had no choice, but to be financially fearless. In 1990, he started an adventure-travel company, G Adventures in Toronto, Ontario, Canada. Today, the company runs tours on seven continents for over 100,000 travellers a year

Applauding performance-based responsibilities

Applauding performance-based responsibilities
Applauding performance-based responsibilities

Applauding performance-based responsibilities:

Performance management is a team sport where every player contributes towards one common goal. Based on employees’ performances, the company assigns roles and tasks, which suits them best. Challenging sharp employees with irrelevant tasks can bring an adverse effect and may damage their career. Instead, if employees’ are properly groomed and given creative liberty to explore new ideas and try out things, they slowly begin to shoulder not only day-to-day, but also extra responsibilities, which eventually help the company to have loyal employees possessing advanced skills. In short, their 100% outcome becomes the total value of company’s overall performance.


Maintaining strong relationships with employees

Maintaining strong relationships with employees
Maintaining strong relationships with employees

Maintaining strong relationships with employees

Employees function as business organs; they need support, motivation, and appreciation from time to time. If companies maintain sound personal relationships with its employees during their thick and thin times, employees’ in turn, feel a sense of belonging towards the company. Monetary or otherwise, small or large, any given appraisal to the deserving employees turns out good for the company. Promotions shouldn’t be announced within closed doors. Rather, examples of promoted employees should be given in front of others in order to boost their morals. This can be done in the form of appreciating their efforts by featuring them on the company’s website, journals, and social media handles etc.

This sort of positive dose of motivation gives them assurance to ignore minor company issues and instead, remain focused on their tasks. Hence, maintaining great relationships with employees make them loyal for the company, keeps them inspired and worthy along with a performance driven mentality for the long haul.

Understanding ‘more work than time’ scenario

Understanding ‘more work than time’ scenario
Understanding ‘more work than time’ scenario

Understanding ‘more work than time’ scenario

When a company thrives, it usually welcomes more work against time. Here, employees’ work-life balance demands greater control. When employees feel greater sense of control, they tend to have better relationships with the management and are ready to invest long hours to get the job done on time. For example, knowing the volume and complexity of the business, company works on a cloud environment, communicating at real time, company and the client shares the same software with separate dedicated login accesses. Now, this may appear sometimes as not an integral part to benefit the organization but it allows employees the flexibility to navigate work from anywhere around the world and deliver projects timely thereby leaving a good and caring impression on clients.

Acquiring new partners

Acquiring new partners
Acquiring new partners

Acquiring new partners

As leaders begin to succeed in business, they begin to understand whom to shake hands with and how to create strategic relationships. Just like, Red Bull & GoPro’s co-branding campaign: Stratos; this perfect pairing has changed the lifestyle of the adventure seekers for good. If leaders share their future objectives with their teams and partners, they are able to leverage the opportunities of being united to complete a mountain project effortlessly before the deadline.

Showing gratitude

Showing gratitude
Showing gratitude

Showing gratitude

Appreciating people for their accomplishments, giving incentives, and maintaining strong relationships, are a few key initiatives that help the company to stand strong. For this, the company and management must focus on how they can train new employees with corporate manners and etiquettes with behavioural and technological resources that can help maintain healthy workplace culture. This can begin with small things such as how to address seniors, peers and say ‘please’ and ‘thank you’. This right attitude results in employee bonding. As the famous saying by Bernard Kelvin Clive goes, “Today, just take time to smell the roses, enjoy those little things about your life, your family, spouse, friends, job. Forget about the thorns -the pains and problems they cause you - and enjoy life” Growing businesses should also stop to “smell the roses” and cherish this amazing time in the modern business landscape.

The traditional corporate structure has transformed into a competitive and sophisticated corporate ladder. But, if budding companies and entrepreneurs implement the above 7 traits at their workplaces, they themselves will witness a huge difference in their employees’ mindset, partners, clients, and market growth.

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