FOUNDATION

Your foundation supports your entire business. It’s the base that anchors the business and keeps it stable when everything else is changing.

Your foundation is much more than the products or service you sell. Companies with strong foundations have synchronized their offering with a vision — a singular purpose surrounded by a set of foundational principles that are readily apparent internally and externally — to the market and to everyone in the company.

All great companies have a strong foundation. What anchors that foundation is the business DNA — the fundamental building blocks of the business. Just like human DNA, business DNA is unique for every company.

There is a big difference, though: Humans are born with their DNA, and it’s present in every cell. Businesses have to shape their DNA over time, and instill it in every employee.

Companies that have successfully crystallized their foundation have sustained or recaptured the initial passion that fueled the company during its inception. Every entrepreneur starts a company and innovates to fulfill a vision. As companies grow and age, and new management takes over, that passion often fades.

To build a strong foundation for any business, there are seven areas that CEOs must own and lead:

• Company purpose
• Core company values
• Public agenda
• Actions reinforcing core company values
• An objective understanding of company strengths, weaknesses, threats, and opportunities
• A celebration and reward system
• A clear understanding of how leadership teams can be motivated to enhance all of theses area

A strong foundation fosters business innovation

Crystallizing your company’s foundation establishes the framework for how you will influence your market. It delivers a clear set of principles to communicate to the market through your competitive positioning, your brand strategy, and all your marketing, sales, and public relations activities.

A strong foundation increases the likelihood that your business will be viable tomorrow, next year, and for years to come.