A great company, as opposed to a good one, is bringing strong, consistent and repeated value to their customers. It’s usually growing as more customers join the ranks of the loyal ones you already have. But getting there requires more than business-as-usual activities. It requires a shift in focus to the long term, and the destination you want your business to arrive at. 

When a business owner clarifies their destination goals, often referred to as North Star metrics, they can determine everything else they need to do to actually get there.

Of the many successful business founders I worked with who tell me of their desire to become a great company, it’s not usually about growing the bottom line, although it’s a sure side benefit. It's more to do with their willingness to commit to the process of becoming great. 

Once they’re on the journey, their desire to push harder becomes infectious, in a really good way, motivating other stakeholders and staff, alike. And - great companies are great places to work and to be a part of, right? 

Going from good to great is a vehicle of value. You give more value to your customers, who in return give value back to your business. You might say what differentiates the good companies from the great companies is that they have a strong brand identity, sense of community and are constantly innovative. They’re always looking for new ways to engage and delight their customers and employees. 

 

Here are three elements I’ve found to be critical for business founders to set a vision to get to great.

Let's break it down. 

Number 1: Purpose

Purpose is your why. It’s the filter through which every business activity must go through to determine whether it’s aligned. You may have read my previous article where we go into finding your why in depth. 

In this blog I mention Simon Sinek, who has an entire book dedicated to the topic of purpose (Start With Why). He states that why should always be followed by the ‘how’ and the ‘what,’ not the other way around. That’s because in many cases your customers don’t just buy what you’re doing, they’re buying the why behind it.

If you’re struggling to find your why, think about the value you bring to your customers, and why they would keep coming back to you. Don’t be afraid to ask them, either!

If you make burgers, your ‘why’ could be as simple as providing your customers fuel for big days and bringing them some joy while you’re at it. Even though this isn't creating groundbreaking change in the world, it creates a positive impact for those you serve, and that’s really what purpose is all about. 

Number 2: Values

Values are your how. It’s all very well to have purpose, but values are how you operationalise it. The values part of your vision is the articulation of the way the company is going to act in good times and in bad times. 

Always think of values as they relate to people. Is your organisation humble? Always giving before asking? Hungry to make an impact?

A good way to think about this is to consider your top employees and how they act. What characteristics do they bring to your business that allows them to perform so well and bring your business’ purpose to life? 

Make your values simple and come up with their associated behaviours, so you can see your values brought to life in the day-to-day of your business. 

Number 3: Mission

Your mission is the what. It’s an objective goal about where you want to end up. How ambitious your mission is is really up to you, and you can always find a new mission once you’ve achieved your original. 

The best example of developing a mission that I have heard from some of the founders I work with is to think of it in military marching terms, by breaking it down into the following questions:

• What is our destination?

• When do we expect to arrive there?

• What do we need to get there?

• What will we do once we get there? 

A good mission should make people feel a little bit nervous at first, while also being grounded in a shared belief of success.  

From Good to Great

The ultimate question when shifting from good to great is this: Do all of your decisions,  investments, people and processes reflect alignment to your purpose,  values, and mission? 

If they don’t, it might be time to find out where the inconsistencies are. Luckily, I can help with that. If you’re ready to take this discussion further, let’s book in a 45 minute strategy session.