How Does Culture Affect Business?
We got the funds together.
We created a plan, short and long-term.
We started a business. Check.
Now we’re good to go… or so we thought. In reality, these first three things can be done by anyone. Seriously, there are about 543,000 business started each month. That means that 18,000 businesses start every day. Over 700 per hour.
In the time it took you to read that, 12 businesses started up.
We’re obviously not the only ones who figured out how to submit state forms and set up a new business bank account.
That being said, however, most businesses fail within the first 18 months (80%). This isn’t just because accounting is hard and getting clients is a challenge. It can be a question of culture.
I know we’re biased, but we feel like Morningdove has a great culture. But what does that mean exactly?
Having a great culture makes employees more productive, less likely to leave, and overall more satisfied.
On the other hand, a toxic culture can lead to infighting, selfish employees, and fulfillment issues. Lots of issues, period.
So how can companies create a culture that drills down into what they truly want to be known for?
The first step is to listen. Employees have a decent grasp on how the company is doing, and even more so, the morale within said company. Satisfaction forms are filled out and checkboxes are checked, but usually nothing substantial happens.
When a company takes what its employees say and incorporates practices to increase them, they’re headed in the right direction.
Create a document outlining exactly what the company’s core beliefs are. Then set out to achieve them! One can’t expect culture to just happen, it needs to be a purposeful process that is measured and adjusted regularly.
Let us know what you’re doing to change your company’s culture!
About the Author
I started Morningdove Marketing for one purpose- to get filthy rich and buy an island. Just kidding. I've worked with lots of different companies, and it's my passion to see them grow as a result of something I've done. And hey, if I can afford an island one day, that wouldn't be too bad either 😉