We write for Forbes about company values and fast growth
Since Rep Data was founded in 2020, we have grown fast. Really fast. And along the way, our leadership team has learned a few things. Founder and CEO Patrick Stokes shared some of his insights into managing rapid growth in his new article for Forbes, “Growing fast? It’s time to put pen to paper when it comes to company values.”
In the piece, he covers Rep Data’s expansion over the last year and a half, and touches on the mission he put forth when he founded the company. Acknowledging that sometimes growth can distract company leaders from their original purpose, he sets forth on one key thing that will help companies stay on track: clearly defined and formalized company values.
He outlines three concepts that can help leaders keep from confusing their “valuation” with their “values” when steering a company through a rapid growth cycle:
Formalize company values, now. This can be as easy as writing them down, and Patrick recommends sitting down with your team and creating clearly defined values that everyone agrees upon. He writes “Your values may have shifted slightly as you’ve grown, and now is a good time to define them clearly. Set up a regular internal review process to make sure you are staying on track.”
Use values to guide interactions with your audiences. If you’re growing, then your Internal audience (employees) has likely expanded too. Communicating values to them can keep everyone on the same page. For clients and other external audiences, your values can keep interactions at the high level you envisioned when you started your company.
Values can help guide tough decisions. Business leaders are often faced with making hard choices, and revisiting values can show a clearer answer. They can use the values as touchpoints to help ensure that the business actions are still fulfilling the overarching purpose and mission.
Patrick concludes his article with: “When you’re running at full speed, sometimes you may find yourself on the wrong path. Clearly defined values can help to point you back in the right direction.”
You can read the full article here.