How This Startup Is Getting Creative To Meet 2017 Goals
Everyone’s busy setting business goals for 2017. If you’re a growth company, you may have to get creative to achieve them.
A growth company is one that is expected to grow by at least 20% every year. Change is on the menu every day- new customers, new requirements, new product features and in some cases, new services. It takes special people to execute consistently through high-growth periods. There are some days where it all comes together, innovation plus teamwork = wins. Other days, it feels like you’re changing a tire on a moving car. The key is setting achievable, reasonable goals that are conducive to building a culture that can embrace change.
Growth companies don’t always have a historical context for goal setting and measurement. With so much going on, formality can feel like overkill. As a growth company ourselves, this is the approach we’re taking. We’ve tried to keep ours simple, flexible and focused on what matters most.
Business Goal: Grow Revenue
Build pipeline, land customers, keep customers.
How We Execute: From the front lines to the backend code, everybody works in sales. Ensure all employees are fluent in the company’s value proposition and how to communicate it. Have an open discussion about sharing our message with personal or business networks. Empower teams with confidence and reward them for reaching out. Invite them to listen in on sales calls.
This takes effort but it works. This week alone, we have statements of work going out to prospects brought in by our CTO and infrastructure team.
Business Goal: Grow Systems
Enable the company to be as efficient, scalable and profitable as possible.
How We Execute: A 5% difference in cost or time creates a big impact in a growth company. Give each of your internal teams a goal for simplification, automation or process efficiency in the next quarter that gets you there. Reward the winner handsomely.
Business Goal: Grow Team
Consistently share status of tasks with direct team and teams across the business. Communicate, collaborate.
How We Execute: Collaborate more, but spend less time doing it. All meetings have a written agenda and no meetings last for more than 30 minutes. Stay focused- no laptops/phones in meetings unless required to present or share. Set monthly collaboration goals with other parts of the business, meet twice monthly (for 30 minutes) to hold each other accountable and stay on track.
Of course some meetings have to last more than 30 minutes, but we try to make them the exception. Over time, the 30-minute habit sharpens focus, communication and keeps teams aligned.
Business Goal: Have Fun
Keep the business interesting, exciting and avoid boredom, burnout or status quo.
How We Execute: The first 25 hires in a growth company make its DNA, so hire folks that are naturally inclined to create the culture you need. Use a personality profiling tool to help find and build the right vibe. We use John Fullagar‘s ITS. As a CEO, be proactive in sharing your vision for the business. Ensure every employee knows his role and impact in getting there. Invest in awareness- bring partners and customers in to the office to present to your team, not just the other way around.
We’ve planned the work, now its time to work the plan. Thanks for reading and best of luck for a great 2017!