The strongest companies are built on strong foundations. Starting up a business and making good money in the short term is one thing. But what about building a legacy? What about building a company that will last long after you do? A company that will support your future family, and become an entity that can last on its own, once your influence is no longer keeping it up?
A business that lasts, does so because of its people. Because of the relationships and community that is built up within that business. You want your employees to feel invested and excited about the goals of your company. Of course, nobody is saying don’t make money, but the best entrepreneurs know that happy people make more money. For themselves, and everyone around them.
This doesn’t just stop when you have a core team that you are happy with. It’s a constant process of looking for the best talent, and supporting the talent you do have to become better. Is your business as strong now as it was when you founded it? If not, take a look at what’s going on with your people.
Your business will stagnate quickly without innovation. The marketplace changes, so you should too. If your goal as a company is the same as it was ten years ago, then you might be falling behind. You need to constantly be looking at creating a strong, attainable goal for your company, that matches the direction it needs to go for the next year, and then having everyone on the same page to execute that goal.
Another reason for constantly bringing in new talent is to bring in innovative thought. There is no point in hiring young people fresh out of college if you’re going to make them follow the same routines you’ve had for years. While what you do may be working, this is an opportunity for you to get a fresh insight into ideas that could push your company ahead.
Justin Cobb is an international entrepreneur, based in the US, with a network of companies spanning the globe.