10 Principles To Create A Highly Successful Company

Creating a successful company isn’t about luck; it’s about focus.

When I first became CEO of my firm, my priorities bounced around like a racquetball in a crystal shop. I wanted to understand what worked, and because I focused on everything, I focused on nothing. I was the child who had way too much candy, trying to watch a movie.

When companies execute on what matters, results begin to stack on top of one another.

With some patience and time, you begin to build a successful company. But it’s not easy. You have to work within the laws of business, but the rules are flexible and meant to be broken.

Here’s where to start:

1) Begin with a company’s big objective.

2) Everyone on the team must fight to keep the business proposition simple.

3) Communicate truthfully with everyone.

4) Clean out the management of people who cannot or will not help the company achieve its objective.

5) Institutionalize asking the question, “What’s the good business reason for doing this?”

6) Measure and share key company productivity drivers with everyone.

7) Turn every business process into a system of best practices that eliminate waste.

8) Reward teams with group productivity-based compensation.

9) Invest in technology to gain a productive edge but remember technology doesn’t create a competitive advantage.

10) Be committed to continuous improvement and lean thinking.

These laws will help you focus on what matters the most.

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