Learnings From the Big Corp.

Setting growth goals is not how you achieve business success.  A goal gives direction, but it will not help you achieve what is wanted by itself.  Establishing robust management practices and processes are required to make progress.

There is much large companies get wrong but there is also much they get right.  Here are some key learnings based on my experience of having worked inside big companies to apply:

1. Strategic Planning: Big companies have established strategic planning processes.  Small companies can benefit from adopting similar approaches by setting clear goals, conducting market analysis, and focussing on constructing a strategic roadmap.  This helps align the organisation, prioritise initiatives, and make informed decisions that support long-term growth.
2. Talent Acquisition: Big companies often have well-defined recruitment processes to attract and hire top talent with an HR function in support. Small companies can adopt similar practices by clearly defining job roles, promoting their unique selling points, and leveraging online platforms and professional networks to reach a broader pool of candidates.  A clear hiring strategy focussed on filling key roles, adding capabilities, and enhancing culture contributes to growth.
3. Process Standardisation: Big companies rely on standardised processes and procedures to ensure consistent quality, efficiency, and scalability.  Small companies can benefit from implementing streamlined and documented processes in key operational areas such as sales, marketing, production, and customer service. Standardisation allows for smoother operations, faster onboarding of new staff, and should lead to improved customer experience.
4. Performance Measurement and Metrics: Big companies often have robust performance measurement systems in place to track key metrics and evaluate the success of their initiatives.  Small companies can adopt a similar approach by identifying relevant performance indicators and setting up systems to collect and summarise data on a scorecard. This enables informed decision-making, early identification of bottlenecks, and timely adjustments to drive growth.
5. Customer Relationship Management (CRM): Big companies use CRM systems to manage customer interactions, track sales pipelines, and analyse customer data. Small companies can benefit from implementing CRM tools or software to enhance customer relationship management, track leads, streamline sales processes, and gain insights into customer preferences.  Effective CRM practices help nurture customer loyalty and drive revenue growth.
6. Scalable Infrastructure and Technology: Big companies invest in scalable infrastructure and advanced technologies to support their operations and accommodate growth.  Small companies can learn from this approach by evaluating their technology needs, investing in reliable and scalable systems, and leveraging cloud-based solutions that offer flexibility and cost-efficiency.  A robust technological foundation enables small companies to scale smoothly as their business grows.
7. Collaboration and Cross-Functional Teams: Big companies often encourage collaboration and create cross-functional teams to drive innovation, solve complex problems, and accelerate growth.  Small companies can adopt similar practices by fostering a collaborative culture, breaking down silos before they form, and encouraging staff from different departments to work together on projects.  This facilitates knowledge sharing, enhances creativity, and boosts overall productivity.
8. Learning and Development: Big companies invest in staff training and development programs to enhance skills and capabilities.  Small companies can prioritise learning and development initiatives by providing training opportunities, supporting skill-building programmes, and encouraging staff to stay updated with industry trends.  Key tip – ensure that individuals own their personal development and review progress in regular performance reviews.
9. Rhythm: It is important to establish a regular heartbeat to the management of the business.  At a minimum there should be regular quarterly meeting, management monthly meeting, and a weekly leaders meeting to plan and set OKRs, review performance and address challenges, and provide an immediate focus on achieving priorities and getting work done.  A regular rhythm supports effective communications and encourages managers to lead with accountability.

By adopting these management practices and processes from big companies, small companies can strengthen their foundations, improve operational efficiency, and accelerate their growth trajectory. 

About the Author

Les is a coach, consultant, and facilitator who works with growth-oriented MDs and CEOs of businesses in “scale-up”. He is also a director of 20-20 Management which is a performance improvement company that specialises in leadership development and growth. 

Les has a proven track record of helping clients deliver successful results by addressing vision and strategy, organisation structure, culture and performance, and managing change to create more accountable, affordable, and agile businesses.

Contact Les to share an experience, thought, or idea or if you have questions about how to improve leadership and business performance.