The Key to Building a Strong Company Culture: 4 Essential Tips
In this video, Matt watches a video that explores the four key strategies for cultivating a strong and lasting company culture. From hiring people based on their attributes and values, rather than just their experience, to empowering employees to take ownership and make decisions, these principles are crucial for creating a team that works well together.
Making tough decisions about underperformers is essential, but so is building a culture of lifetime relationships where employees feel valued and are committed to long-term growth. With these strategies, you can foster a company culture that supports success and employee satisfaction for years to come.
There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this series watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!
Video Transcript:
Business Advice Video:
I’ve run a company for 22 years and here are the four things that we do. So first and foremost, 80% of your culture is who you hire. The hack on who you hire is hire for attributes, not experience. Hire for who someone is. And not what they’ve done. Second is radical empowerment. You want to give people as much responsibility and as much decision rights as they can. Number 3, this is the hardest one. You have to make decisions on underperformers. Nobody wants to be on the team with people that shouldn’t be there. The last thing that we do is this concept of lifetime relationships. We don’t have any positions that are like churn and burn where you’re only here for a couple years. We’re really hiring people that could be here for 10 years and we’re doing that at the front end by the way that we’re assessing them.
Matt’s Review:
Yeah, I think those are all good points. I think it’s very important to have a good team because the team is who delivers whatever the business is doing, right? The founder, the owner can only do so much. But if you want to grow past a one person business, now you’ve got to have a team. And if you want that team to be good, you have to hire the right people. It’s very hard to teach somebody not to be a jerk, but you can teach them a lot of other things. So hire people that are nice, that are smart, that are open to learning new things, that are coachable, and then teach them the skills you need. But hire good people and then teach them what you need rather than hiring skills and hoping they turn out to be good people. Definitely empowering people, letting them give feedback, letting them be involved in decision-making, letting them suggest new ways of doing things, improving things, super important, and moving people along who are not a good fit, even if that just means they’re just not as good as your good people, not that they’re terrible, but making sure that they’re really contributing at the same level as the top people that you have and that you keep raising the bar, not lowering the bar. And these are all tips, I agree with all of them, I think it’s all super important. If you have a good culture, the business is gonna run really well, a few bad apples can really draw the culture down and make it you know so it’s an uncomfortable place for people to work, and the people who are gonna leave first are the best people, ’cause they have the most options and can go anywhere they want. So they’re not gonna stick around if things go south. So take this to heart, and when you build a team, pick the right people, hire for good attributes, let them be as free to manage themselves as you can, avoid the micromanaging, and really make sure that you’re not letting people on the team who are not up to the top standards.
