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Tips for Transforming a Companys Culture

Transforming a company’s culture isn’t for the faint of heart. It takes a lot of courage, dedication, and plenty of humility. While that’s sounds contradictory or confusing, it’s actually the case. You’re going to need to lead in a new direction and be able to take things in stride (at least, to a point). Because changing an organization’s culture will feel much like trying to push a boulder up a steep hill. At any moment, it can roll right over you. But, if you know a few ways to deal with this change, you’ll have a much better shot at success.

Tips for Transforming a Company’s Culture

It’s very common for a company’s culture to reflect the prevailing management style. Let’s face it, most individuals tend to hire people who reflect their own style, so this isn’t a surprise. That means if a hiring manager or another leader has certain bad habits, chances are excellent others on team will likewise possess those same or like behaviors. It’s also true that culture doesn’t form overnight. It takes time for a company culture to develop.

As a [business owner] or as a manager, you may have the power to change your organization’s policies with the stroke of a pen. And you may have the ability to hire, fire, promote and demote people with relatively little effort. But changing an entrenched culture is the toughest task you will face. To do so, you must win the hearts and minds of the people you work with, and that takes both cunning and persuasion. —The Wall Street Journal

Once that culture forms, it’s very difficult to change. People become complacent and it takes a significant event to shake that off. It could be a big change in the industry for the worse, losing a lot of money, a sudden shrink in customers, or something else. Great cultures drive productivity and profits. Poor cultures slow productivity and profits. Culture starts with Leadership. So, it’s very important to realize when the culture is toxic and/or when crazy has infiltrated the business. It’s at this juncture you need to take immediate action. Here are some helpful tips for transforming a company’s culture:

Team-up with an insider. If you are new to the business, team-up with an insider — someone who can give you the details of what’s happened is a very valuable person. Or, if you’re part of a company that’s just gone awry, you still need someone you can trust. A person who gives you confidence you’re getting the straight story. You’ll learn a lot and probably discover different ways to get back on-track.
Get feedback from team members. Aside from your go-to person, you still need to solicit feedback from the entire team. Encourage people to communicate their experiences and expectations. This is a great way to identify who is and isn’t working out. You’ll know by each person’s input and reactions who is an asset and who is a liability. Then, you can work with individuals to help them improve.
Define the limits and be extra clear. While getting in-the-loop will provide a lot of valuable information, it’s not going to be a magic bullet. You’ll still need to define boundaries and be very clear on your expectations. Remember the old saying, “To be unclear is to be unkind.” It’s true and will certainly prove as much if you do not define your goals.
Be bold and take the lead when necessary. What all of this means is, you’ll have to lead by example. You must set the tone day in and day out so everyone has a chance to adjust. Eventually, a new normal, a better culture, will evolve.

Have you taken over an organization and changed its culture? How did you approach the situation? What other tips and tricks do you suggest to change a company’s culture. Please share your thoughts and experiences by leaving a comment.

Interested in learning more about business? Then just visit Waters Business Consulting Group.

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Disney is Purposely Pricing People Out of its Parks – Should Your Business Follow the Same Strategy?

October 28, 2022 No Comments

Disney has a strategy to increase its bottom line and squeeze more revenue out of its most iconic assets – price people out of its theme parks. This definitely seems counterintuitive, but it actually makes a lot of sense when explained. On its face, this sounds ridiculous, except it does seem to have a lot of potential and that’s why the executives are making some very bold moves. Why Disney is Purposely Pricing People Out of its Parks Disney has a serious problem with its parks – they are just too popular and that means they’re overcrowded. Anyone who’s been to its theme parks, particularly over the last several years, has most definitely noticed this. The predicament is most pervasive in Orlando, where ride wait times have gone up to as much as 420 minutes or 7 hours. You read that correctly. Just last week, its newest and most anticipated attraction, Rise of the Resistance, recorded a wait time of seven hours. This, despite the fact the experience opened in December 2019, nearly three years ago. Be mindful of competitors. If they are raising prices, it’s easier for you to do so too. Don’t forget to evaluate how your customers will react (fully accept the increase, stop, or lower purchases) as well as the possibility of maintaining price to generate higher volume (stealing customers from rivals). If the competition holds steady on prices, there is less opportunity for a hike. —Harvard Business Review And, it’s not just the latest and greatest rides and attractions either. Some of its oldest staples routinely experience wait times in excess of an hour, even two or more. What’s more, wait times for sit-down restaurants can easily be two or more hours for anyone without reservations. (By the way, those reservations must be made three to six months in advance.) Just these anecdotal figures should tell you something – the parks have way too many people visiting. In fact, exiting Main Street in the Magic Kingdom after the fireworks show can take up to two hours to get from the park exit to the parking lot on busy days (a twenty-minute trek when crowds are super light). Of course, anyone who looks at these figures would think that Disney would be very happy with its premium capacity. But, as executives have explained on various earning calls, their per capita spending in the parks is somewhat paltry – particularly among annual passholders. Annual passholders are a problem for Disney because they present a conundrum. While they pay a premium for their privileges, they spend relatively little money in the parks. Conversely, families and couples traveling from out of state or from international destinations spend quite a bit of money in the parks on top of the pricey admission. In other words, annual passholders come in through the gate, spend a few hours enjoying rides and attractions, and then leave. Meanwhile, couples and families making dedicated trips plunk down a lot of money on things like hotels, souvenirs, snacks and dining, and Genie Plus (a paid skip-the-line service), as well as special experiences. Should Your Small Business Raise its Prices Too? For the foreseeable future, Disney will continue to raise its prices on everything: admission, food, merchandise, and services and experiences. The company plans to earn more money from fewer visitors. This brings up an interesting question – should your small business follow the same strategy? If you haven’t raised prices in quite some time and/or offer discounted rates to be out pricier competition, it’s probably a good idea to consider. Plus, if your business needs substantially more customers than your competitors to turn the same profit, it’s definitely worth exploring. To answer these questions and more, speak with an experienced business consultant who can assess your situation and help you determine a new pricing strategy. You just may be losing out on revenue that could be going to your bottom line. Interested in learning more about business? Then just visit Waters Business Consulting Group.

Here’s Another Key Ingredient to Success — Stop Comparing Yourself to Others

December 15, 2018 No Comments

“Stop comparing yourself to others!” Chance are excellent you’ve heard this advice more than once before. It might have been a parent, coach, a teacher, or even a friend. Okay, we all know this is true. Comparing yourself to others will inevitably lead to disappointment. But, we all fall into this trap and it isn’t helpful. So, how do you resist the feeling in the first place? Let’s take a look at how you can effectively stop comparing yourself to others. If You Keep Comparing Yourself to Others, You’re Standing in the Way of Success Before we get into the logistics, we’ll take a peek into what this actually does — it prevents you from succeeding. That’s right. Think about it. If you’re always comparing yourself to others, you keep moving the goal post. Comparing yourself to others’ accomplishments is a losing battle. There is an endless supply of people to whom you could compare yourself and your accomplishments, but, inevitably, you’ll always end up on the losing side of the comparison. That’s because there will always be someone who has done something that you wished you could also accomplish. —Forbes.com And, we all know what that means. So, doing this is essentially self-defeating. You can’t reach the goal if you keep moving it further away. It’s really that simple. Yet, it’s difficult to resist the urge because we all want to accomplish more. How to Stop Comparing Yourself to Others Now, how do you stop comparing yourself to others? Sure, it sounds easy but it isn’t. Fortunately, there are ways to beat back the impulse: Practice getting over your FOMO urge. FOMO or fear of missing out. It’s a good portion of what drives the success of social media giants like Facebook. People are always measuring their own lives up against others on social media. Take a break. For instance, don’t check social media for an entire weekend. Or, make your evenings social media free. Look for commonalities, not differences. Instead of comparing yourself based on differences, try identifying commonalities. It will give you a level of reassurance, at the very least. It will also tell you that you are incumbents in some ways and boost your confidence. Take a long, mindful trip down memory lane. One of the best ways not to compare yourself to others is to compare yourself to yourself. That’s right. The you of today is likely a great improvement of the you of the past. Understand what you can and cannot change. Another way to stop comparing yourself to others is to understand and accept there are things you can change and things you cannot change. Doing so will certainly help you contextualize. What other methods would you recommend to stop comparing yourself to others? Please share your thoughts and experience by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Trump Clinton Obama Spying Teach a Great Business Lesson

June 7, 2017 No Comments

If you follow the latest news, you no doubt know there’s a lot of allegations about spying. And, you’ve definitely heard the word “collusion” all-too-many times. It’s post-election politicking at its worst (or best, depending on your perspective). Anonymous sources are spilling the proverbial beans day in and day out. Regardless of your take, all of this does teach a solid business lesson, you just have to look past the ugliness. That lesson is how to protect company secrets, particularly when employees depart. How to Protect Company Secrets after Employees Leave One of the best measures is to get to know all your team members so you can keep them happy. You might learn it’s time to transform your company’s culture or take other steps to improve the environment. The more involved you are with your employees, the better able you are to deal with problems before they arise or before they become overwhelming. This way, if you have a new hire who is willing to share information about a previous employer, you’ll know that’s a possibility when he or she leaves. Ever wonder why generic forms of cola never seem to taste quite like the taste made famous by Coca-Cola brand? Or why nothing quite measures up to the “special sauce” in a McDonald’s Big Mac? It’s not for lack of effort by way of competitors, but instead, a careful product of some of the best-kept industry secrets. While many industries basically work to reproduce the same type of product in different forms, what helps a company distinguish itself from its competitors, gain notoriety, and keep a competitive edge is the little known inner workings that make their products or services stand out from the pack. —Business.com It’s also a great idea to get to know your team members because then you can learn about them as individuals. This is a wonderful way to know what rewards are most appreciated. And, content employees are typically more loyal. On the other hand, employees who are kept at arm’s length tend to be more disgruntled. According to a Ponemon Institute study, 61 percent of unhappy team members steal company information. But there are other steps you can take to protect company secrets, even after employees leave your organization: Set expectations. “It’s better to be safe than sorry,” the old adage warns. And, this is true when it comes to keeping company secrets. You have to ask yourself about what’s most valuable to your business and that’s what needs top priority protection. This starts by setting expectations and keeping employees informed about company confidentiality policies. If necessary, have employees sign non-disclosures so they are less tempted to share secrets. Utilize technology. In today’s modern technological environment, there are plenty of tools at your disposal. Use them to your advantage so there’s less access or blocked access where it’s appropriate. For instance, if you are developing a new tool, salespeople should not have access to the plans but designers should. Put technology to work where needed and that will help to minimize potential risk. Monitor employees. You can also use technology beyond controlling access. Monitoring employees can be a treasure trove and provide much appreciated relief. For example, if a team member is about to leave and is actively interviewing with other companies, monitoring their digital activity might be worthwhile. Cut off access quickly. Although it’s not pleasant to think about, when an employee departs, unless it’s on truly amicable terms, there’s a risk something that could go with them, carried right out the door. So, be sure to terminate access right away to remain safe. How do you keep trade secrets? What steps do you take to protect company secrets? Please share your thoughts and experiences by leaving a comment! Interested in learning more about business? Then just visit Waters Business Consulting Group. [shareaholic app=”follow_buttons” id=”26833294″]