???Question three: Are you building the right team and culture to reinforce your model? ???
Creating a winning culture goes far beyond surface-level perks like free cookies and references to the importance of wellbeing. It's about instilling a set of values and ways of working that empower individuals to thrive and reach their full potential. Just as in sports, where the fastest and most skilled athlete can falter if something isn’t quite right, the same holds true in scaling a business. ???
Hiring the right people is just the first step. Fintech leaders are under constant pressure to achieve rapid growth, leading to a culture of "managed chaos" that often devolves into plain old chaos in many cases. While some thrive in this high-energy environment, others may prefer a more structured approach. During the hiring process, it's crucial to identify candidates who align with your company's mission, culture, values, and ways of working. ??
Playing to people’s strengths – and helping develop them – also just makes good sense. Research from Gallup found employees who use their strengths every day are 8% more productive and 15% less likely to quit their jobs. Creating an environment where team members feel safe to take risks and be themselves will foster a culture of innovation, bearing fruit in the long run.
Your ability to change tact, fix problem behaviours and evolve your team and its focus is also core. The team which was first in the door and was wonderful, may not be best suited for rapid scale. You need to constantly be thinking about your team, its areas of expertise, potential skills gaps, and the embedded culture. Some team members may not gel, while you may have to leave some behind.
To do so, you need to be resilient, hire well in the first place, but most of all make sure everyone is inside the tent and clear on the mission.
So go out there, pick the right team, nurture it, align interests, set the tone from top, and set clear strategic objectives and plans – for now and tomorrow.
And importantly, never stop evolving them ??.
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Archimedes changed the world when he proved the application of the lever. Giving people the ability to build more, move more and create more with the right amount of leverage.
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Steve Brennen Tommy Mermelshtayn, CFA Anthony Thomson Paul Pester Fawaz H Zu'bi