How to Build a Culture That Drives Financial Success

Employees, Shareholders & Customers

Companies that have a culture that focuses equally on employees, shareholders, and customers outperform their competitors by 756%!

These results were published in John Kotter’s book, Corporate Culture and Performancewhere he reported on the results of his research on over 200 companies for more than 10 years.

Companies that focused equally on employees, shareholders, and customers outperformed those companies that positioned one of these over another. The performing companies didn’t just marginally outperform these unbalanced companies . . . they reported income growth of 756% compared to 1% growth over the same period (page 11 of Corporate Culture and Performance)!

Corporate Culture in Action

I know this seems like an outlandish claim but I have seen this strategy work!

The Ultramind Solution

Fix Your Broken Brain by Healing Your Body First

This week’s book review is The Ultramind Solution by Dr. Mark Hyman.

Hyman explains how the food we eat impacts our physical and mental health. He explains how conditions like ADHD, Alzheimer’s, bipolar disorders, OCD, Parkinson’s, etc., can be caused by, or significantly impacted by our diet. Everything he discusses in this book is clearly supported by published, scientific research studies.

Valve

Handbook For New Employees

This week’s book review is the VALVE Handbook written by VALVE employees.

This is not a traditional book that you can buy from Amazon. This is a manual from VALVE, a software development company, that can be downloaded for free off the web.

It is an amazing employee “crowd” written handbook that explains many aspects of the VALVE business including:

The Secret to Being Excellent

Excellence in your business is critical to business success and longevity. Without excellence your business becomes just another business in a sea of businesses. Without excellence your business will fade into mediocrity and commoditization . . . which is the race to extinction!

Conversely, excellence will differentiate you and your business. Excellence will open up opportunities and doors that are not available for the “generic masses.” The higher your level of excellence, the more business opportunities you will have!

How to Become Excellent

How to Boost Customer Experience and Improve Your Business

A recent study completed by Business Insider indicated that 66% of consumers are willing to spend more money at a company that gives them an excellent customer experience. Conversely, 60% of consumers have canceled a purchase due to a poor customer experience!

Also, consider that consumers are five times more likely to engage with a sales representative who provides helpful insights and that it takes 12 positive customer experiences to negate the damage from one negative experience!

Based on this compelling evidence, it is hard to understand why businesses don’t spend more money training employees and building systems, processes and tools to ensure a great customer experience!

Good and Bad Customer Experiences