3 Things You Must Stop Saying If You Want To Build A Great Company
Building a great product or service can be tough. Even worse, building a great company is an entirely different ball game.
Many people mistake profitable companies as great companies. And even many others mistake popularity as being great.
While most great companies are profitable and generate high revenues, that’s not what makes them great.
What makes a company great is its ability to communicate its causes, beliefs, and values in everything it does, stays true to them consistently, and in the process, builds an army of loyal customers that would defend the company no matter what, buy from the company even when some competitors have better products & services at cheaper prices, and even more importantly, to create a cult-like following where customers and prospects find it difficult to clearly articulate why they prefer your brand, as product features and benefits alone will not be able to tell the full story.
It’s no wonder that great companies like Apple, Google, Coca Cola, and several others have dominated their niches for so long, and no matter what type of far better-improved products their competitors release, consumers still prefer to do business with them.
Building a great company is not entirely easy, nor is it a day’s job. But it starts with a few things that cannot be covered in one article alone.
If you want to someday build and own a great company with a consumer base that’s loyal to you through thick and thin, you can start by stopping to say these 3 things:
1). “Let Us Create Passion”:
You cannot manufacture passion in a laboratory or simply motivate people to feel passionate.
What you can however do, is to discover what ignites a person’s passion and the passions of those around them. By doing this, you tap into a dormant part of their personality, trigger it, and lead them on.
You can do this to both your employees and consumers and since people love to rally around things they’re passionate about, they’d tend to start paying attention to your brand.
2). “Let Us Use Best Practices”:
Best practices are nothing more than a set of guidelines for businesses operating in an industry. It has little to do with whether your product, service, or business will succeed, or maybe even someday help you become a great company.
What works for one person will not necessarily work for another, even if the conditions are the same. Their actions are just simply best practices to help you form a baseline because best practices are not always best, but rather a place to start from.
Since everyone who starts a new business in a new industry would almost likely follow the best practices, you’re no different from them.
Unless you can be consistent with your values, beliefs, causes, and reason for existence as a company and clearly communicate it to consumers consistently, only then will your practices indeed be best.
3). “Let Us Focus On The Return On Investment”:
If your goal is to get into business simply because you want to have high revenues and make a lot of profits, then you can never build a great company.
What differentiates the majority of average or good companies from the minority great companies is the fact that the great companies have these three traits below:
- They know they can be the best at what they do
- They are truly passionate about what they do
- They have identified strong economic value in what they do
When you focus on the economic value (return on investment) before passion and innate skill, you’d never go too far.
To Sum It Up
While there are many checklists to building a great company, you can start by first stopping the use of the phrases spoken about in this article and start doing the opposite.