Building a G.R.E.A.T. Company

Concluding Thoughts

For companies of all sizes, greatness is difficult to obtain. And once there, it is easy to lose the distinction of “great”. However, the journey to greatness is more important than the destination. In my experience, aspiring to being a great company is where the true value lies.

How many of these components of greatness does your company possess?  More important, what would your customers and employees say about your firm in relation to this G.R.E.A.T. standard?

Let us know your thoughts, leave your comments below or visit the CMI website.

Building a G.R.E.A.T. Company

Components of a G.R.E.A.T. Company IV

A: Attitude. While “entrepreneurial” and “generous” speak to this type of attitude, great companies also exhibit plenty of spunk, vim and vigor. They have attitude with a capital A. This may mean going the extra mile for the customer. It may mean being on time, no matter what. It may mean that top executives double up in hotels to cut costs and contribute to their profit. Whatever the context, great companies exhibit an attitude and view of the world that clearly sets them apart.

Want to change your company's attitude?  Visit the CMI website.

Building a G.R.E.A.T. Company

Components of Great Companies II

R: Revenue and Reflection. Revenues are central to any business. The reason great companies stand out is they generate a lot more revenue than their competition. Revenue can also mean (although not necessarily) that they generate profit. For many growing companies, profit can be elusive during the times when revenue must be put back into infrastructure and additional resources in order to grow. In great companies, revenue is understood by everyone, not just the top executives. All employees understand how revenue is generated and consumed. More important, each individual understands how he or she can increase and impact revenue.
Reflection is the planning piece. In great companies, long-term success is supported by some sort of disciplined business planning process that engages the leadership group. The leadership group regularly assesses where the company stands and what future they want to design. The leadership also provides an organized and focused way for problem solving and lessening the pain of growth. Early on, great companies establish and implement a formal annual planning process from which to design their growth. In other words, Reflection can lead to Revenue and long term success.

Want to create a wise and profitable culture in your company? Visit the CMI website to learn more.

Building a G.R.E.A.T. Company

Components of Great Companies
Now that we have defined a great middle market company, what components make up greatness? They can simply be found in the acronym G.R.E.A.T.

G: Generous and Growth. The dictionary defines generous as “liberal in giving or sharing; not petty or mean; magnanimous; abundant and ample”. These are also apt descriptions of a great company’s culture. Great companies provide space for people to grow and develop. They accept human foibles and allow mistakes to be made. Great companies are not mean-spirited or punitive. They have rules, but only a few. They are willing to give and bend, and they come from a mindset of abundance while avoiding notions of scarcity.

Generosity enables Growth. Growth causes all the progress and wealth of a company but it also causes all the problems and pain. Without growth, a company stagnates and becomes internally focused. Great companies use growth as the engine for their internal and external development.  
Want to create a generous and profitable work culture at your company?  Visit the CMI website.