85% of CEOs I interview on my podcast have one thing that keeps them up at night. And it’s not a strategy.
They’re concerned about losing the speedy and risk-taking entrepreneurial zeal that made the company successful in the first place.
Here’s another example from a global company:
In an internal staff meeting, Amazon Web Services (AWS)’s CEO, Adam Selipsky, shed light on Amazon’s biggest challenge in the next few years: themselves.
He fears that Amazon – known for “Day 1” culture – is losing its startup mindset and becoming a slow and ineffective organization.
If this is your concern too, my advice is:
1) As companies grow, there’s a tendency to become complacent, focusing on protecting what you already have rather than driving innovation. To keep the fire alive, promote a culture that encourages risk-taking and maintains a startup-like energy
2) Restlessness and dissatisfaction fuel the drive to challenge the status quo and innovate. Encourages employees to question existing ways of working, practices, and current processes. Help them to find the “Holy Grail” to transform the company
3) With growth comes the risk of losing agility and becoming burdened by bureaucracy. Look for those signs of that. Somewhere, there is an incumbent mentality focused on preserving the status quo. Don’t accept it because it’s easy to let things go
4) Drive an unwavering commitment to customers. Focus on delivering exceptional value to customers. By doing so, employees will find all possible new ways to make the customer more satisfied
Keep your company’s heartbeat pounding with the energy of a startup.
Nurture innovation, challenge the norm, cut the red tape, obsess over customer satisfaction, and, above all, cherish the relentless spirit that made you successful in the first place.
It’s the key to enduring greatness.