Most people are aware of the incredible power that company culture has in making or breaking a company.
While the concept of culture seems qualitative and fuzzy to many entrepreneurs or managers, the research on the impact of culture on organizations is very clear and data-driven. Companies with highly-engaged employees have low turnover, high productivity, more satisfied customers, and higher profits.
To sum it up culture’s potential impact more succinctly, management guru Peter Drucker famously put it a different way: “Culture eats strategy for breakfast.”
The Pitfalls of Culture Change
The benefits of a strong company culture are many – and it’s no surprise to see companies all over the world aspiring to build world-class cultures within their organizations at almost any cost.
The problem is that company culture, just like the culture that permeates through society, is based on hidden sets of assumptions, social norms, traditions, and unwritten rules that represent the way things actually get done in a company. As a result, decision makers often underestimate how challenging cultural change can be.
Today’s infographic comes from executive consultant Torben Rick, and it uses an iceberg analogy to show why organizational culture change sinks so many ships. At the top of the mass, there are visible indicators of a culture – but underneath is a bigger, invisible mass that holds all the ingrained cultural assumptions that are extremely difficult to affect.
As Torben Rick puts it, the iceberg represents “the way we say we get things done” in contrast to the deeply-ingrained “way that things actually get done” within an organization.
In other words, for managers to positively affect cultural change, they not only need to address the top of the iceberg (vision, mission, values, etc.) but they must also make inroads on the bottom of the iceberg, which makes up more like 90% of a company’s actual culture.
Unfortunately, transforming these underlying perceptions, traditions, and shared assumptions is the real hard part of the exercise, and it can take many months or even years to see the results of such initiatives.
How to Build a Strong Company Culture
Cultural change cannot happen in one week of meetings, or through a few memos sent from higher ups. To effectively shape the bottom of the iceberg – those deeply-ingrained beliefs held throughout the organization – change must happen over a longer period of time where leading is done by example, and employees have the support they need to grow.
The following infographic from ZeroCater offers six ways to help get you started in building a strong culture.
As you embark on your voyage to build a stronger company culture, remember that organizational change is more complex and ingrained than it initially seems.
The amount of companies that are successful in these endeavors is far fewer than the amount that have tried – and this iceberg of organizational culture change has sunk many ships over time.
This Giant List of 100+ Marketing Stats Reveals What Actually Works
This massive infographic uses 100+ marketing stats to highlight the tactics that are working in modern-day digital universe.
In just the last decade, the marketing world has been dramatically transformed.
Spending on digital media surpassed television ads in 2017, and now global digital spend is anticipated to top $333 billion this year.
As a result, today’s entrepreneurs and small businesses are starting to think about marketing in almost exclusively digital terms – and to have a successful online strategy, it’s important to see the data on what tactics are actually working.
Visualizing 100+ Marketing Stats
Today’s infographic comes to us from Serpwatch and it highlights seven of the most important digital marketing trends to keep an eye on this year.
Along the way, it highlights over 100 useful marketing stats that help to reveal the strategies and tactics that maximize ROI in the online arena.
It’s well known that digital media tactics – such as using social media, SEO, search, email, and content marketing – all offer unprecedented levels of analytics, customization, and segmentation for the modern marketer.
However, with so much to think about when using these techniques online and at scale, they can also be quite overwhelming.
Luckily, the above list provides some marketing stats that stand out in potentially helping businesses make the most out of their digital campaigns.
Stats That Stand Out
Here are some of the marketing stats from the above list that we thought stood out the most, for each category:
The top five search results for a keyword on Google get 70% of the clicks.
- Social media:
80% of B2B leads come in through LinkedIn vs. 13% on Twitter and 7% on Facebook.
- Video marketing:
Video will represent 82% of all internet traffic by 2021.
- Cold email marketing:
Emails sent between 10-11am have the highest open rates. Tuesday is the best day to send cold emails.
- Paid advertising:
The mobile ad blocking rate has increased 90% year-over-year.
- Lead generation:
61% of marketers say generating traffic and leads is their top challenge.
- Content marketing:
47% of buyers viewed 3-5 pieces of content before engaging with a sales rep.
Although the digital marketing space is vast, the useful statistics above may help create some clarity for marketers trying to get the most out of their efforts in 2019 and beyond.
How to Take the First Steps in Scaling Your Business
What are the roadblocks to achieving scale? We look at these growing pains, as well as the steps needed to get past them in scaling your business.
How to Take the First Steps in Scaling Your Business
Most entrepreneurs are hungry to bring their company to the next level.
Whether they operate a family-run business or a rapidly evolving tech startup, there is always another milestone in sight. Business owners want to their companies to make an impact with their customers and communities, and they want to keep honing their craft.
But with 27.9 million small businesses in the United States alone, there is no shortage of competition for the same pieces of the pie.
How can you take steps in scaling your business, and do what your competitors are not willing to do?
Roadblocks to Scale
Today’s infographic comes to us from Brunner Consulting, and it breaks down common roadblocks to scaling as well as potential solutions to the problem of decision fatigue.
To begin, we’ll look at a poll of U.S. small business owners, which gives perspective on the challenges most often faced by companies with fewer than 10 employees:
- Profitability (50%)
- Hiring new employees (48%)
- Growing revenue (41%)
- Cash flow (38%)
Unless a business has deep pocketbooks or is venture-backed, there are several obstacles here that may prevent companies from scaling successfully.
A lack of profitability is an obvious limitation, but it’s also clear that revenue growth, cash flow, and adding new employees can be growing pains that may derail any long-term plans.
Why is scaling your business so challenging?
It’s because most types of businesses are not really scalable to begin with. The only sustainable way to scale for most companies is to grow revenue while decreasing operating costs, and for many traditional small businesses (i.e. bakeries, restaurants, hardware stores, consulting, etc.) this can be incredibly difficult.
Even if you come up with a scalable business model, there is yet another obstacle that can prevent your from growing the right way: decision fatigue.
In a growing and evolving company, entrepreneurs can’t do everything – and when they try to make every big and small decision, it affects the quality of those decisions. It can lead to being unnecessarily risk averse, maintaining the status quo, or even avoiding decisions altogether.
Scaling Your Business: First Steps
For a business to grow, there has to be more than one decision-maker.
There are two main routes to this:
1. Delegate Responsibility
In a typical small business, employees find and diagnose problems, while owners focus on solving them. However, by delegating these day-to-day decisions to employees, it frees up owners to work on the big picture items that can fuel growth.
2. Play to Your Strengths
Entrepreneurs can’t do it all, so it’s best to play to your strengths. To do this, outsource business departments that are outside of your wheelhouse. Often those may include things like bookkeeping, marketing, customer service, or website design.
Decentralizing decision-making is one of the first steps in scaling your business – and no matter how you do this, it frees you to focus on the big problems.
Markets3 months ago
The Jeff Bezos Empire in One Giant Chart
Maps6 months ago
Mercator Misconceptions: Clever Map Shows the True Size of Countries
Advertising2 months ago
Meet Generation Z: The Newest Member to the Workforce
Misc5 months ago
24 Cognitive Biases That Are Warping Your Perception of Reality
Technology4 months ago
The 20 Internet Giants That Rule the Web
Environment2 months ago
The World’s 25 Largest Lakes, Side by Side
Advertising4 weeks ago
How the Tech Giants Make Their Billions
Chart of the Week3 months ago
Chart: The World’s Largest 10 Economies in 2030