By Steve Burns, Capital News contributorI enjoyed a conversation with a technology CEO last week that I just had to relay to you.
What we were talking about was the answer to a question that I don’t think I will ever be bored asking—what makes your company prosper?
Based upon all of the market research done by the leading thinkers of our generation, no one has come up with a solid answer to this question that applies to every company’s circumstance. For example, read Jim Collins’ book Good to Great. You will note Collins’ research supports the finding that there are a number of things that great companies do very well. While you can’t argue with his findings, other people, such as Tom Peters, completely disagree with what they term the “cookie cutter” approach.
Peters, in his book entitled Re-imagine!, says that there are no formulas in business,just leaders that are willing to break what is not broken in order to drive innovation. Who’s right? From my perspective, they both are. I agree with Collins that there are great disciplines for any company to have. I also agree with Peters that we need more innovation and more willingness to challenge the status quo. I think the marketplace dictates which approach will work. It may be a matter of a company’s ability to balance these two very different perspectives that will help any company succeed in their marketplace.
Despite the differing perspectives, I see a common theme, which this technology CEO was outlining. “It really doesn’t matter which approach you take. They all begin and end with one factor—you must have awesome people.”
I couldn’t agree more.
For example, when this CEO was asked what the number one factor was in helping their technology company become so successful, the answer was clear and straightforward. “We have been successful because we have built a likeminded team. Every member of our organization shares four things, which we consider to be our keys to success. We call it the VPC2 success formula.
“We believe this success formula defines for us the four non-negotiables that every one of our team member both possesses and buys into. These are the key things that we look for in recruiting people to our team. We will not compromise on any one of them.”
Firstly, the V—we share the same vision for where this company is headed and why. Secondly, the P. We share the same passion for our technology and how we serve our customers. Thirdly, the first C, we are committed to doing whatever it takes to be successful. Finally, the second C—we are competent in our areas of expertise and, as such, trust each other to execute on our commitments.”
steve@burnsinnovation.com
