Three Effective Strategies to Fuel Growth by Rick Dennen, President & CEO
As a business owner since 2003, I understand the desire to always be growing your business. And, while it’s satisfying to know your business has become financially larger and stronger under your leadership, there are also practical benefits. A growing business is generally a more profitable business, and when the time eventually comes to sell, a larger, healthier company will command a higher price. While there are many factors that fed into Oak Street Funding’s growth, I believe three particularly powerful strategies fueled that growth and continue to do so today. Applying these strategies to your own business, whether you’re a start-up or an established company, may help you reach the next level.
Culture counts Consciously building a strong management team and company culture can lead to growth. I know some business owners dismiss culture as something that is touchy-feely, with little or no value, but I believe culture is a key component for growth. A successful business is made up of people working together to achieve common goals. This cannot happen unless everyone understands why and how they work together and everyone is on the same page regarding the overarching goals of the company. An engaged and motivated workforce provides outstanding customer service which can attract new customers and bolster client retention. A key part of Oak Street Funding’s culture is encouraging our employees to give back to the communities we serve. We support this philosophy by giving employees paid time off to volunteer and allowing our employees to decide 6
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