Are you the owner or the decision-maker of a company that struggles to meet company goals? Learning from the strengths of both large and small companies can create a balanced approach, ensuring team engagement and business success in today’s ever-evolving market.
Having spent most of my early career at large corporations like Disney and Time Warner, I transitioned to private companies and entrepreneurship, leveraging the skills I gained. I was often impressed by how smaller teams achieve tasks with limited resources and think: “Wow, that IS a better way to do that!” As a Fractional Chief Operating Officer (COO), I now consider processes that impact the entire ecosystem from a cross-functional perspective.
5 Lessons from Large Companies
- Structure and Role Definitions
Corporations implement hierarchical structures that provide stability and scalability. Clear role definitions ensure accountability and minimize confusion. When I was the COO of a startup, we had a flat organization where people served multiple roles. Yet, each responsibility had an owner, and the team knew who that was at any given time.
- Communication and Meetings
Larger organizations often have structured communication channels and regular meetings. While smaller companies may lack these resources, quick weekly or monthly meetings can keep everyone informed about current initiatives. Use communication tools wisely. Slack, or other systems can keep people talking. Remember— don’t make keeping up with the internal channel another full-time job!
- Employee Review Processes
Larger organizations have established employee review processes that contribute to compensation and accountability. Smaller businesses can adopt informal quarterly or monthly check-ins. Separate these from task-oriented meetings to focus on employee goals, challenges, and support.
- Long-Term Planning
At Disney, as in most public corporations, we dedicated significant time to long-term planning. Smaller businesses can benefit from a strategic yet nimble approach to define priorities, create growth plans, and adjust plans based on new information.
- Metrics and Analysis
Smaller companies often overlook performance analysis. A favorite tool of mine is an analytic dashboard. At Disney Baby, I was thrilled by the beautiful report on my iPad that combined key customer, website, and financial data. Over the years, I created various versions of this report to help my teams gain a well-rounded picture of the business. You don’t have to make this fancy. Assign team members key metrics to own and discuss them together for a well-rounded view of the business.
5 Lessons from Small Companies
- Quick Decision Making
Larger corporations can streamline decision-making by empowering employees and reducing bureaucracy. Develop pre-set parameters and involve the right decision-makers at the right time to avoid delays. Who hasn’t been de-motivated on a team when a decision is bopped around without coming to a resolution?
- Embracing Innovation
When a company starts, leaders are often unafraid to experiment with the latest technologies and ideas. Encourage your team to explore innovative approaches and brainstorm to foster creativity, bringing people from various roles and departments together. Remember to institute processes to follow-through on these ideas.
- Willingness to Fail
Failure is an inherent part of innovation. Create a culture that celebrates both failures and successes, documenting and learning from each experience.
- Culture of Transparency
Smaller companies often have a familial atmosphere with a strong belief in the mission. Larger organizations can enhance buy-in by fostering transparency, encouraging feedback, and ensuring everyone knows how they fit into the larger mission.
- Roll Up Your Sleeves Mentality
Promote a hands-on leadership style by encouraging executives to engage directly with their teams, fostering collaboration and understanding. Alternate leadership roles in meetings and projects to gain diverse perspectives.
Conclusion
By integrating the best practices from both large and small companies, leaders can foster a dynamic, efficient, and innovative business environment. Learning from diverse organizational structures and cultures offers more adaptable and resilient approaches to lead and manage.
Consider bringing in a Fractional COO to provide a fresh perspective on your business. The 2GO Advisory Group offers Fractional Executives who help visionary leaders solve problems, find better ways to operate, and optimize their businesses. For a free consultation, contact Lauren@2GOAdvisoryGroup.com.
For your Talent needs in direct hire, full-time or part-time contract staffing, contact Executive Recruiter, Leesa Meintzer at leesa@2gorecruiting.com.
Lauren Zaslansky Conner is a seasoned professional with more than 25 years in consumer products and services, from startups to large corporations. As a Fractional COO, she leads the Consumer Products and Services practice at the 2GO Advisory Group. Her expertise supports organizations in evaluating internal workings, developing strategic priorities, and implementing cross-functional plans for success. For support for your management efforts, contact Lauren at Lauren@2GOAdvisoryGroup.com
Leesa Meintzer is an executive recruiter with more than 20 years of experience in talent acquisition. She excels in partnering across various business functions and brings a comprehensive perspective to talent acquisition. She works with Engineering, Healthcare, Product, Finance, Accounting, Business Operations, Sales, Legal, Human Resources, Learning & Development, and Talent Acquisition for corporate and high-growth start-ups.