Benefits of a strong company culture

Join the Building PA Podcast to listen to Kevin Trout share his insights into the benefits a strong culture will have on your company.  Kevin joins us as a former owner and CEO of a medical supply company and current Vistage chair and facilitator for CEO groups.

In the discussion, Trout emphasizes the importance of establishing a strong culture as part of the hiring, onboarding, and operations process.  Trout said the process of creating a strong culture begins when companies “think of their company values as nouns with the second step focuses on creating verbs to support the nouns.”  This two-step process defines the behaviors you expect and encourages team members to focus on action toward those behaviors.

Listen in as Trout shares his four stages of growth.  Within these stages lies the secret to a strong and robust culture, which includes:

• First gear – owner wears all the hats and begins acquiring clients
• Second gear – employees are hired and all report to the owner.  Profits in this stage are high.
• Third gear – owner begins investing in the company and hires professional managers.  Profits in this stage shrink due to additional employees.
• Fourth gear – owner becomes the face of the company and profits grow exponentially as the company grows.

Tagged as: Business growth, Culture, Kevin Trout, Vistage, hiring, onboarding, company culture, growth stages, 4 stages of growth.