Author: Evan Hoeflich

The problem with the issue of company culture lies in the fact that it’s the most important non-quantifiable factor in your company’s growth. In other words, while you know it’s necessary and that it brings growth, you have no way of knowing just how much you stand to gain from it. Moreover, a lot of people don’t even know where to start building the company culture so here are eight strategies to help you out.

1. Clean straightforward communication

The first thing you need to understand about building a company culture is the fact that it rests on clean and straightforward communication more than anything else. Regardless of the idea, you need means to pass it down the chain of command and receive feedback. Furthermore, transparency and openness of communication should be the core of your corporate values, regardless of your starting point. This practice alone avoids potential misunderstandings and makes coordination simpler and more efficient.

2. Explain the importance of company culture

Another thing you need to focus on is explaining the company culture to your staff. One of the ways to do so is by presenting them with social proof. Sure, your company needs to stand for something, yet the importance of this might elude even some of the most dedicated employees. Therefore, you need to find a way to show them how a positive company culture helps boost productivity, increases marketability and improves the unity in the workplace. It would also be quite handy to find some statistics to back up your theory. For instance, companies with a strong culture have four times as much revenue growth as those without it.

3. Storytelling

Tell a story about your journey every step of the way in order to make people truly care. What we mean by this is that you need to find a way to build a great company structure by employing various storytelling methods. Everyone likes a story about the underdog success, however, the way in which you present it may be equally as important. Try not to focus too much on your personal achievements. After all, the point of this story is not there merely to inflate your ego. Instead, talk about the people who made it all possible. Talk about your team, your customers and your partners. By making this into their story, you’ll get them personally involved in the future of your company, which brings us to the next point…

4. Personal motivation

The next issue we need to talk about is the personal motivation. What this means is that the people who are responsible for the success of the company have a personal motivation to see the company succeed. For instance, if you promise a hefty bonus for the successful completion of a project, you can have people invest some extra effort to see this through.

On the other hand, not all of your employees are fiscally-oriented. For some, the prospect of advancement is far more important. Even those who aim to leave your company at one point have something to gain from the company’s boost in status. Let’s face it, being a team leader in a renowned company is more impressive than being the head of an unknown startup. Just make sure to break things down in a way that everyone will understand and the results are bound to follow.

5. An appealing workplace

The next thing you need to understand is the fact that inanimate factors affect your company structure, as well. For instance, working in a poorly lit, underequipped, musky environment speaks volumes of your company. It’s not only an indication of your low financial status but also of your low regard for the well-being of your staff. This is why even the smallest of startups need to consider finding some real office space.

The problem with this idea lies in the fact that teams of 1-5 people seldom have a way of financially justifying the need to lease an office. Instead, they should probably look for a nearby shared office space. For instance, instead of running a home-based organization, entrepreneurs may look for a serviced office. In this way, you get the most cost-efficiency out of your headquarters situation and get to work to your full capacity.

6. High level of autonomy

The very feeling of having someone watch over their shoulder before they make a move is unsettling to say the very least. First of all, it indicates a clear lack of trust in their abilities. Second, it limits your own functionality, seeing as how it distracts you from your main tasks. Of course, we’re not claiming that you should let every single person in the company make their own independent choices. Nevertheless, everyone needs to have at least some degree of autonomy regarding the tasks they are in charge of.

7. Higher talent appeal

By improving the infrastructure of your company and learning how to market it properly, you’ll not only make it a better place to work at but also a more appealing company to work for. In other words, once you start hiring people, you’ll get letters of recommendation from more promising candidates, people with more experience and better letters of recommendation. This also needs to be one of the things you keep in mind when building a company culture.

8. Don’t forget to have fun

While a lot of people don’t see how fun and professionalism go hand in hand, there’s a statistic claiming that happy employees work 12 percent better. Sure, distracting people from their core tasks isn’t something that should be tolerated but there’s a difference between a workplace where everyone does what they like and a place with a bit more relaxed atmosphere. While most employers fear that their company could easily descend into anarchy, this line isn’t nearly as thin as they fear, which is why this isn’t something that can just happen spontaneously.

In conclusion

As you can see, the benefits of a great company culture are so numerous that they’re hard to count and by creating and enforcing the right set of corporate values, you get to enjoy all of these perks. The key thing here is not to allow yourself to get sidetracked by traditional myths and misconceptions about an effective workplace. The best thing about company culture is that it can be started while you have three employees and still have it remain relevant by the time you reach 300.

Author Bio:

Lauren Wiseman is marketing specialist, contributor to bizzmarkblog.com  and entrepreneur. She helps clients grow their personal and professional brands in fast-changing and demanding market, strongly believing in a holistic approach to business.

Was this article helpful?

Let Lauren and I know in the comments section below!

First-time entrepreneurs have too much in front of them to tackle, yet, the issue of finances always comes to the forefront. After all, without enough money, your company will run into the ground long before it reaches its full potential. If you’re not careful enough with your finances, this is exactly what’s going to happen. With that in mind and without further ado, here are five important financial tips for first-time entrepreneurs to help them bridge that rough patch of the first six months to one year in the business world.

Limiting Fixed Expenses

As soon as you start, you need to make sure you can keep your business afloat, and the most efficient way to do so is to limit the fixed expenses. The broadband plan you’ve signed up for always has a fixed cost, but you would be surprised at just how precise you can make your estimation of utilities, fleet management overhead, and supplies cost. At the end of the day, frugality is the name of the game, which is why you need to do your best to keep your expenses low and urge your employees to do the same.

Managing Cash Flow

The next thing worth keeping an eye out for is the cash flow. The initial investment money gets depleted fairly soon, but the operational costs still remain. Then, you need to innovate, offer incentives to customers (other than discounts), and pay bonuses to your employees in order to keep the morale high. The thing about cash is that, during the initial stage of your startup, it’ll be in short supply. Debts, subscriptions, fees, and interest rates will eat most of it, while the bulk of your profit might remain in invoices and account receivables. Therefore, you need to be extra careful when it comes to your management of those few resources you do have available.

Exploring Fundraising Options

The way in which you acquire the money for your startup will determine the way in which your company functions from that day on. Getting a partner means split control and going through preorder; a crowdfunding system implies that you already have some customers, while taking money from a relative may put your personal relationship in peril. All things considered, many first-time entrepreneurs tend to go with start up business loans. The reason behind this is mostly the fact that they aren’t required to present a business plan or a financial record (both of which would have been problematic for someone without previous experience).

Pay Your Bills Online

According to one survey, an average company spends $12 in order to pay a bill, while when paying through an online platform this amount can be brought down to as little as $1.50 per bill. In other words, you get to save about $10.50 per bill, which on monthly and yearly level comes down to a substantial amount. The sooner you start, the more money you stand to save.

Open Source Tools

Finally, one of the best ways to save money in your office is to go for open source tools. Open Office can be equally as efficient as MS Office. Nowadays, Google offers more than a few great alternatives to this expensive standard tool, as well. Aside from open source tools, certain free trials, demo versions, and free versions can also come in quite handy. Sure, some offer limited functionality, others have an expiry date but, for the time being, they save you money. Due to the fact that your first several months are a period when you’re supposed to save the most, there’s no reason for you not to do so.

First-time entrepreneurs meet many challenges on their path to success but with proper organizational abilities, enough research, and adequate advice it’s quite possible to make it on your first try. Apart from all the above-listed, it’s smart to hire services of a seasoned accountant, seeing as how this awaits you somewhere down the line. Never stop learning and always remain persistent and you give yourself a really fair shot at success!

Author Bio:

Diana Smith is a full time mom of two beautiful girls interested in topics related to finances and latest business technologies. In her free time she enjoys exercising and preparing healthy meals for her family. Follow Diana her on Twitter and Google+.

Were these tips helpful?