Two Keys to Smart Business Growth

Two Keys to Smart Business Growth

John Mackey started out with a tiny health-food shop and grew it into an internationally recognized chain of high-end food markets, making Whole Foods a household name.

John didn’t start out thinking he’d one day be CEO of a thriving company. In fact, he was a philosophy major with a personal interest in healthy living, and he credits his early success to the fact that his lack of business training meant he “didn’t know what he couldn’t do.”

That meant that rather than limiting his strategy to something he learned while getting an MBA. John spent years perfecting his own outside-the-box way of doing things. Which, as it turns out, has been extremely effective.

And he’s got two simple but powerful key suggestions that sum up his business philosophy.

John shared these two gems with me in our interview for Money Revealed, and I’m passing them along to you…

Align Your Actions With Your Purpose

John says that the first key to a successful business is to guard the purpose of your venture and keep it at the heart of what you do. He believes strongly in the value of knowing why you do what you do, and in keeping those core values central to all the decisions you make for your business.

In his case, John’s vision is to nourish both people and the planet. He keeps this idea at the forefront of every decision he’s made for Whole Foods, and it’s paid off.

It can be difficult to pass up opportunities that inevitably arise when you’re in business, but weighing each opportunity against the company’s purpose will keep your business moving forward. Ask yourself, “Will this move my business in the direction of its long-term vision, or will it divert energy from that purpose?”

Saying no to the things that don’t align with your mission is sometimes difficult, but the result is a well-developed, sharpened business that’s able to compete with the best… because all of your efforts have been focused on the company’s purpose.

Make Choices That Benefit Your Stakeholders

The second key to success is to keep your stakeholders in mind when you make decisions for your business…

Not just the owners and investors.

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We’ve all heard stories about companies that don’t do this. They’re the ones that make headlines by having a CEO and board whose Christmas bonuses are 10 times what their employees make in a year.

When corners are cut and employees go without raises, insurance and good work conditions, the entire business suffers. High employee turnover will eventually mean poor customer service, which is a sure way to bring a company down.

Use These Key Areas of Focus to Grow Your Business

Add these two important keys to your business strategy and keep them in mind as you grow. As simple as these suggestions are, they’re a tried-and-true way to grow without losing your focus.

John Mackey’s commitment to serving his customers, employees and investors with quality and genuine concern is what makes Whole Foods stand head and shoulders above the competition…

And it can do the same for you!

With Purpose,

Dr. Patrick Gentempo

Patrick Gentempo