Why Your Talent Acquisition Strategy Rules Your Growth Strategy

There is no substitute for a quality company culture. A report from the Columbia Business School indicates that over half of executives link positive culture to increased productivity and profitability. But while business leaders recognize the value of culture, they struggle to build it; 87 percent of respondents in a Deloitte Insights study cite cultural development as one of their chief challenges.

In a corporate context, core values are best developed from the ground up — beginning with hiring. A quality hire not only possesses critical skills and professional acumen, but also principles that align closely with your company’s brand. While certain cultural elements can be refined over time, it’s virtually impossible to force a fit with employees who don’t share your workforce’s overarching values.

Defining And Highlighting Your Company’s Culture

Core values create a much-needed framework for your company, while your mission and vision statements serve as foundation. It’s critical that you clearly define these elements before you take on new employees. Equipped with a mission and vision statement that accurately reflect your aspirations, you can better attract professionals who share your values and goals.

Don’t let prospective hires make assumptions about your company or what you’re looking to accomplish. Outline your core values in every element of the hiring process, from job listings and applications to interviews. Prospective employees should know exactly what your company stands for — and how they can contribute to your long-term vision. Align all hiring materials to ensure employees receive the same message throughout the process. Strategic talent management programs can play a critical role in this effort, especially if designed to reflect current stages of organizational growth.

Continuing Culture-Building Efforts in Employee Onboarding

The hard work doesn’t end after you’ve vetted potential hires thoroughly and chosen the individual most likely to be a team player. The onboarding process provides a more refined take on these concepts. Through onboarding, you can demonstrate not only key company values, but also how these standards can be upheld on a day-to-day basis. Provide detailed feedback to ensure new hires grasp essential concepts.

Hiring should never be about filling seats; ideal employees will share your core values while making every effort to absorb and exhibit your company culture. Ideally, employees will not only understand and emulate your core culture, but also take pride in representing your brand. The effort you invest in the early stages of hiring and onboarding will lead to exceptional ROI as you see huge improvements in productivity, camaraderie, and general workplace culture.

Are you determined to build a positive company culture from the ground up? The ON ITS AXIS customizable end-to-end Talent Acquisition Planning program could be key to developing more effective hiring and onboarding strategies. Schedule a free discovery call today to learn more.

Business Success Begins With Alignment

Running a successful business takes a lot of heart and hustle, not only for small business owners, but startup founders as well. Once you’ve established your company and developed products and services that fit your target market, working in and on the business tends to come at a furious pace. Balancing the ongoing work and managing the company takes discipline. As growth happens, scaling often goes by the wayside. Here are five questions you need to ask yourself throughout the year to help reduce burnout and promote a healthy work cadence.

Do we know our Core Values?

Core Values are at the heart of every company. They are more than just empty words but rather they are part of your foundation. What does this mean?

When you create Core Values for your company, they serve as the frame that holds your company up to make it stronger. Your Core Values help you make decisions about projects you take on, clients you decide to work with, and how you choose the people on your team. All of these decisions ultimately define your company culture.

An exercise in Core Values development not only helps you get clear about the company you wish to create and cultivate, it generates reminders of why you’re in business and what your value proposition is. In fact, defining your Core Values feeds your branding efforts and marketing messages.

What is our Mission and Vision?

If Core Values are your frame, your Mission and Vision statements together create the actual foundation. They define your purpose, your passion, and articulate how you see your company making an impact in the world.

Mission statements help focus your efforts around a common goal and define why you exist. Knowing what yours is should have a centering effect when things get challenging; a Mission is akin to a compass that points the direction for your internal team to take action. Your Mission should be broad enough to define your niche, indicate who your target customers are, and the outcomes you create.

Vision statements are declarations of what you’re striving for, ultimately what you want your company to be and your aspirations for the future. Your Vision gives meaning and purpose to why you’re in business. Research shows that employees who find their company’s Vision meaningful have engagement levels of 68 percent, which is 19 points above average. Aligning your Vision to your company values and goals will extend your success into the future.

Do we understand our Team Dynamics?

Team Dynamics consist of personalities, the relationships individuals have with each other, and the environment in which the team works. Your team may consist of you and another founder, or many individuals across departments. Either way, Team Dynamics play a big role in company performance and understanding how your team works is very important to your revenue.

You may be familiar with the uptick in remote work environments employed by many companies today, a great way to reduce operating costs while also presenting some unique challenges in terms of communication and collaboration. These challenges can ultimately create unproductive conflict, demotivation and loss of accountability.

However, if communication skills are strong and there are tools and a defined process for collaborating together remotely, overall team performance can skyrocket in a remote environment that fosters less distractions and the potential for a thriving atmosphere.

Whether you operate a remote workforce or are under one roof at company headquarters, understanding your Team Dynamics is important to help nurture what is working and address what needs adjustment for individual fulfillment, team productivity, and company success.

Do we define our Goals and Objectives and track progress?

You’d be surprised to learn how many well-meaning companies do not articulate their Goals and Objectives for the year, let alone know the difference between the two. Once companies have context and understand how this drives revenue, the light bulb goes off.

A goal is a broad outcome. “We want to secure an initial funding round.” An objective, on the other hand, is a measurable step you take to achieve that goal. “We will convert x number of users to x number of customers to demonstrate traction to potential investors.” How we do this is determine by our strategy and our tactics. “We will launch the new feature after validation from our discovery and customer development practices.”

Without Goals and Objectives we are like ships without rudders and anchors; we don’t know where we’re going and we don’t know when we stop.

A great way to begin to define Goals and Objectives is to define a strategy for achieving Goals and tactics for pursuing Objectives.

Do we follow a process to align ourselves with our Company?

Once you’ve done all this great work, the reality is that it needs tending to. Priorities are constantly shifting and realignment needs to happen on occasion. Not only do the outcomes of the exercises shared here need to be revisited, they only work if the day-to-day focus for individual team members ties back to the Company.

Creating a method to re-align can be as simple as a quarterly planning meeting or a one-on-one objectives-focused session with a team member. The point is that having some process to revisit the good work done at the company offsite is critical to keeping momentum in a forward motion.

Inspiring Stories from the OC

What a fun week being featured in VoyageLA magazine’s Inspiring Stories from the OC!

Thanks to the VoyageLA Staff and David Voorhees, an Orange County based photographer and videographer, I had the opportunity to share and illustrate how ON ITS AXIS got started and our vision for working with early stage and high-growth startups. I also share how I believe our social good component combined with our product and people focus is what truly sets us apart from other technology consulting and staffing firms.

The best part of the experience is seeing how taking time for reflection and sharing my experience as a founder helps other founders learn and grow. Since the interview was published, my inbox has been flooded with stories, requests and well wishes.

As a founder focused on giving back, how can I support you? If you read the interview and would like to learn how I help founders break-through from overwhelmed and overworked to overjoyed, please get in touch. You can schedule time on my personal booking calendar for a complimentary session. If we find we are a good fit, we can decide if Advisory Services is a next step. I look forward to hearing from you.

How To Have A Smoother Product Launch

Three key questions to ask at the onset of new product development

New product development is a lot of hard work, not only in the ideation phase, but throughout the product lifecycle. Once you’ve established what your product’s value proposition is, the effort establishing product/market fit can feel all-consuming. In the midst of polishing your pitch, it’s easy to forget that you may have missed some important questions. Some of these are marketing-related, and others are related to your legal rights. Among other things, investors or acquirers will definitely want to know whether you actually own your underlying IP. So here are three key questions to ask at the onset of new product development. You might be surprised how asking these questions now can save you significant time and money later in the lifecycle.

Does your brand resonate with your product offering?

We know a strong brand that resonates with target customers is crucial for product success, but did you know that lack of product/pitch can kill all of your branding efforts? Great products create value and a strong brand tells a great story that communicates that value. The two go hand-in-hand.

While developing your product, be clear about your brand promise and work hard to ensure the marketed outcomes are reflected in the product’s use. The important thing is to start off with the proper sequence: products should reinforce the brand and its promise, not the other way around. For example, Airbnb went through a rebranding effort to create a better story of belonging and connection, for everyone, anywhere and at anytime. While Airbnb was engaged in rebranding, they redesigned their product in parallel. Not only did the messaging and company expression have an overhaul, the features and functions available for both hosts and travelers were made to align with the rebranding for consistency and alignment.

Do you understand what aspects of your product you need to protect?

There’s nothing like launching a new product and being sent an attorney-signed cease-and-desist letter just as you’re getting market traction! Unfortunately, we’ve seen this all too often in our work with clients to re-design their products.

Our co-collaborator on a new educational series, Diana Palchik, a legal consultant and trademark lawyer, shares that if there are outside developers, inventors, artists or designers involved, there need to be legally correct agreements in place before they start work, so you can document that your company owns the work product. Independent contractors otherwise typically own their work product by default, even if you pay them.

Diana explains that the best practice for new product development projects is to employ a teamwork approach that involves both legal professionals who can identify hidden threats to ownership, and product experts who can surface the right questions to ask on the product development side. All of this work, while still involving expense, can be done most efficiently and affordably at the early stage to avoid potential loss of value, difficulty selling the business, funding hurdles, and legal disputes with outside contributors.

Did you conduct a proper due diligence?

The fresh eyes of an objective party or legal professional can’t be recommended enough during the product discovery phase. Doing the upfront due diligence — a trademark search, for one — reduces the likelihood of future legal issues. The trademark space is very crowded, and even unintentionally adopting a trademark that someone else is using constitutes trademark infringement. Having to change your company’s name or logo once your product launches is both an expense and a logistical headache.

Conducting a due diligence is more than checking off a series of boxes, however. What you are looking for is a process for doing the work in the proper sequence, to achieve the desired results.

Summary

If reading this got you asking, “Have I done a proper due diligence for my product?” “What steps do I take to reduce known legal risks in a new product development process?”, we’d love to share more on this topic.

Join startup attorney Diana Palchik and myself for a recorded talk we’ll be sharing next month: “How To Have A Smoother Product Launch: Product Development + Trademark Tips.” You’ll learn how to perform due diligence, when to do it in the product lifecycle, as well as what activities or milestones might trigger another evaluation for your product. We can’t wait to share some best practices with you!