Step 8: Create a Culture

Find and Apply Best Practices

We know, as entrepreneurs ourselves, that the nature of the entrepreneurial beast is to always want to do things innovatively. But the fact is, sometimes being innovative is not the best strategy. Instead, we’ve learned that one of the smartest moves you can make is to simply be a copycat.

Ask yourself what entrepreneurs or companies you revere – ones on which you’d be proud to model aspects of your business. If it’s a challenge to find companies in your own niche, look beyond to the marketplace in general. Who’s doing things admirably, effectively, in ways that inspire you? Learning what “the best of the best” do to get results can help you get your business kicked into high gear, too.

When you find companies that exhibit excellence, figure out what it is exactly that sets them apart. And ask yourself if you can apply that same practice or strategy to your own business.

It might be their hiring practices, their compensation packages, their customer demographics, their product mix, their service offering, their pricing -- on and on. You’ll know which areas of your business require the most attention and upgrading after completing Step 1 of the 10 Steps to Grow Your Business .

Besides your competitors and other companies, another good source for great ideas is probably right under your nose: a trusted advisor or mentor. We’ve found that mentors are huge contributors when it comes to avoiding land-mines and helping you shortcut directly to best practices.

Create a Social Agenda

The more meaning you add to your business, the more passion you infuse, the more your company will thrive.

Your “social agenda” can include initiatives like donating a portion of proceeds to a particular cause, encouraging employees to volunteer for local charities, even promoting the fact that your product selection follows strict guidelines to protect other people or the environment.

Here’s a good example: Vital Choice is an online company that provides Alaskan salmon. The company stresses to customers that it sells salmon only caught in a certain way, and that it works only with fisheries that are not over-fishing the waters.

This approach encourages employee passion and commitment, and lets customers know their patronage benefits Vital Choice’s environmental cause – in this case, the salmon fisheries. Beyond the health benefit, it gives customers yet another impetus for doing business with Vital Choice.

Donating a portion of your proceeds to a local charity also creates awareness. Tell your customers about community problems that should be addressed. You’ll find that your employees start getting involved, too. They’ll enjoy working in a place that isn’t just focused on making a buck. They’ll enjoy a sense of fulfillment, and that will reveal itself in greater attention to detail, commitment to success and workplace productivity.

Tip

Get exposure through non-profits

Here is a proven tip that will cost virtually nothing and requires a minimal time commitment.  Get in touch with local Non-Profit Entities eg. Charities, Foundations, Organizations etc. which identify with your particular product or service.  Provide the individual involved with in-kind or leveraged resources and offer a vendor booth or sample product etc. for any upcoming events or gatherings.  It is virtually free PR and exposure as well as a valid tax deduction. - Tip submitted by mcclainv

StartupNation’s View: Nice one, mcclainv. This is another creative and very specific strategy to gain additional exposure and marketing value locally. And, aside from the derivative benefit of the tax deduction, there’s also the meaningfulness that can come from this for the business owner and employees. Adding meaning to work adds passion and better performance.