While we are likely all familiar with the tortoise and the hare fable, how often do we reflect on this lesson when it comes to business? Furthermore, how many times have we been fascinated, even in awe of a fast-growth start-up company that becomes a “cool” household name seemingly overnight? Media, business executives large and small, and other industry pundits are eager to replicate, focus on, and learn from these companies. Yes, some make it (Amazon), but many don’t (Theranos). But, how often are we paying attention and studying the companies who have taken the “tortoise” approach, successfully weathering challenges ranging from significant recessions, new technologies that change the way business is handled, or the all-too-real threat of pandemics?
The Traffic Group, led by its founder Wes Guckert, has taken the slow and steady growth route over their 35-plus years in business. They attribute much of their long-term business success on their corporate culture, an integral part of their company DNA. Keeping their culture in the forefront of their decision making, the firm has turned down countless opportunities to sell or merge, recognizing their culture – and therefore the business – would ultimately suffer. The firm exists to enhance the quality of life for their clients, as well as to their team members. Ask Wes, an actual business growth expert, and one will hear how culture has played a large role in its steady, stable growth since its inception in 1985 and how his long view has helped the firm weather the storms that inevitably come any business’ way.
TAKEAWAYS:
- Know what you don’t know (and be OK with it)
- How to understand that making as much money as possible should not be a strategy
- Slow growth can be better than fast growth
- Company culture = the key to growth
- How your strategic plan, Business Development, and culture all need to tie together
Presenter: Wes Guckert, PTP, President and CEO and Renata Haberkam. Director of Business Development, The Traffic Group, Inc