Why growth is good
As the lights fell, the cheers died down and the first celebrity/entrepreneur/speaker walked onto the stage at this year’s Inc. 5000 Conference in San Antonio, I couldn’t help but be both amazed and humbled. For three years running, treetree has been counted among the fastest growing private companies in America.
I wondered, How did we get here? How is growth changing the game for the trees back home?
Along this ride, I’ve learned that growth means much more than revenue. It means constantly being on your toes. It means being stretched. It means pivoting (and fast). It means saying "yes." And saying "no." And it means building people up as much as your business.
Growth is good, but why?
1. It means you have a clear north star.
The pursuit of profit over purpose (or worse, no purpose at all) only goes so far. In fact, it’s hard for any company to sustain growth without a strong sense of “this is why we do what we do.”
Because purpose makes things personal. Purpose mobilizes people. Not just employees, but also clients and community members. It means your employees don’t just love working for you, your partners love working with you and customers love buying from you. There’s an intangible spark when others believe that they are part of something bigger than themselves.
During periods of rapid growth, not only is it important to keep your eyes fixed on that guiding light, but it’s nearly impossible to steer your ship without it. When you combine hustle with heart, your business is more likely to be successful.
2. It creates opportunities for generosity.
One of my proudest moments at treetree was the day we announced a new parental leave policy. Twelve weeks of parental leave with 100% pay might sound radically generous, but I knew in my heart it was the right thing to do. This policy was a long-held goal of mine, and growth made it possible.
So rather than setting profit goals, what if you set giving goals? Instead of revenue, what if you focused on the good you could do for the community and the people in your company? Rapid growth paves the way for radical generosity.
3. It helps you define and refine your culture.
Company culture is not defined by a ping-pong table or a happy hour. It’s much deeper than that, and you, the leader, set it. I love that William Craig defines culture as something in your company’s genetic code. Good or bad, it’s in your DNA.
Defining company culture isn’t a natural extension of company growth; but the need for it is. As treetree has bounded past the 20-employee mark, our leadership team has bolded and underlined our values.
As you grow, you might find that what you believe your culture to be gets skewed. If it’s not clearly defined, each employee might have a different idea of what you’re all about, and that’s a recipe for disaster. Honing in on your clear and distinctly defined DNA, however, is a blueprint for growth.
The more you grow, the more opportunities you have to nail down your company’s culture and then hire hardworking and heartworking people who drive it home.
What have you learned from periods of rapid business growth? Has it changed your business or culture?