The most successful, longest-standing companies have learned how to differentiate themselves from the competition — not just in the products they produce or the services they offer, but in how they run their business. The more intangible qualities, like company culture, are more difficult for competitors to copy, making them the strongest differentiators. On a recent episode of the Difference Talks podcast, I spoke with Jason Lippert, CEO of Lippert Components, about how he differentiates his multibillion-dollar company through the culture his team has cultivated.
Unlike competing on price, quality or customer experience, which can often be easily copied, a company’s culture is comprised of a unique group of people and cannot be duplicated. Any company seeking to differentiate itself through its culture should consider these important steps.
Establish clear values and goals. An inspiring culture requires a clear set of values and goals that work together to drive success. They are a company’s North Star and should be regularly shared and reinforced with the team. Values form the foundation of how the team achieves its goals. For example, if a company has set sustainability as one of its values, it should establish clear goals for the team to work toward, such as reducing greenhouse gas emissions.
Additionally, the team should understand their role in achieving those goals.
Dedicate resources. A unique company culture doesn’t just happen on its own. It’s also not a “set it and forget it” type of endeavor. It requires people who are responsible for establishing the culture and nurturing it. During my conversation with Jason, he shared, “I really feel strongly that if you’re going to speak seriously about culture to your team members and externally, you better have resources dedicated to it. Otherwise it’s just, somebody else’s third or fourth thing that they’re focused on.”
Align leadership. A company’s leadership is crucial to establishing and supporting the culture throughout its organization. It must be aligned on its values and goals and continually reinforce them. That means more than just paying lip service to these core elements of the business. It must back them up with action. Transparency and honesty will earn a team’s respect and their commitment to supporting and fulfilling the company’s values and goals.
Focus on consistency. Consistency is essential when you’re striving to create a workplace culture that differentiates your company. It promotes trust and stability among teams, increasing their confidence and improving productivity. At Lippert Components, Jason found that “people wanted consistency in values and leadership. Quality, safety, efficiency and innovation all got better the more consistency we had in the workforce. If somebody’s leaving every month on the line, your quality is going to be worse than if somebody’s there and learning and growing.”
A focus on consistency has also been crucial as Lippert has acquired other brands. Jason and his culture team have focused on consistently communicating Lippert’s core values and goals to ensure these businesses seamlessly integrate into his company’s culture.
Provide purpose. Everyone wants to feel they’re contributing to something bigger than themselves. When teams have a strong sense of purpose, they become more engaged and understand the value they bring to the company. Leaders must provide their teams with purpose and why their work matters. Employees are less likely to leave a company to work elsewhere for a few cents more per hour when they recognize how their role impacts the business and the lives of its customers.
Culture can be a company’s most significant differentiator. Not only is it much more difficult for competitors to replicate, but it can lead to many more differentiators for your company as it drives your team’s innovation, engagement and dedication. I invite you to listen to my conversation with Jason Lippert on the Difference Talks podcast. His approach to culture and building a strong, loyal team is inspiring and provides insights we can all use as we begin a new year of differentiation and winning hearts, minds and market share.
BARRY LABOV, a two-time Ernst & Young entrepreneur of the year and inductee into the Entrepreneur Hall of Fame, is founder, president and CEO of LABOV Marketing Communications and Training in Fort Wayne. He has written and co-authored more than a dozen business books and is a regular columnist in business publications.
BARRY LABOV, a two-time Ernst & Young entrepreneur of the year and inductee into the Entrepreneur Hall of Fame, is founder, president and CEO of LABOV Marketing Communications and Training in Fort Wayne. He has written and co-authored more than a dozen business books and is a regular columnist in business publications.
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