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Monday, March 14, 2016

Growth in Business: Build a Strong Foundation First



I often reflect upon historic touch points as a reference for my research when developing new projects. One need only to study post-WWII companies and leaders in the fields of entertainment, oil, aerospace and finance, for example, to see the definition of successful navigation over the long term. Sure there were some bumps along the way, but these companies are known for revisiting their core values regularly and for making sure they are always in check.

When working with a client, I like to interview key team members, owners and principals of a company or organization to understand their structure and truly know their core values. As I go through this process on an on-going/regular basis, I have discovered that, more often than not, we lose sight of the core values of the company—what I like to call the foundation. Left ignored, weaknesses in the structure compound and things begin to crumble—in work ethics, integrity and communications.

When a shift from the foundational core values begins to take place in an organization, it is often looked upon as growth, new opportunities or thinking outside the box, which can be looked upon as an economic benefit for the company—at first. Yet as time goes on, and the company goes through a restructuring, unless the new ideas and concepts are built upon the foundational core values of the company, the positive impact of the new concepts will actually falter and ultimately weaken the structure rather than strengthen it.

I am not saying that we should stop being innovative or stop being creative. I believe we must continuously build upon the original foundation of the company’s core values to foster its future economic wellness.

“Civilization, companies, ideas and trends come and go. Yet a person, business or organization with a solid foundation of conviction and beliefs, will make the commitment to stay fresh and grow without losing site of core values. They will withstand the challenges of an ever-changing world—and often grow to be better.”

Will your company be able to withstand the uncertainties of a global economy?