The Difference Between a Good Company and a Great Company

Posted by Chuck Kocher
On July 18, 2011

Sometimes the difference between a good company and a great company is fairly subtle, but I’ve noticed a few areas that separate great companies from their good competitors. Those areas are: Leadership, corporate culture, people, execution, and customer service. Let’s take a quick look at each of those.

Leadership has to have great vision and a great plan—a plan that isn’t static. Great leaders are continually reviewing and working on their plan to improve it. They know where they’re going and they make adjustments as necessary.

Corporate culture is critical to business success. A great company creates an environment that employees are attracted to—they love being there. They want to be part of it.

People are essential to greatness. It may seem obvious, but great companies have great people. Great companies seek and attract great employees.

Execution is key to greatness. Great companies execute well. They get things done. Lots of companies have good ideas, but great companies have great ideas that they put into action—and they do it right.

Customer Service is an absolute must. Great companies also have great customer service. The culture of the company isn’t just directed inward—it extends to their customers.

Each one of those areas—if executed properly and with diligence—leads to a productive, profitable company. Your company makes money and your customers will absolutely love you. And what’s better than having great customers that continue to refer more business to you?

Great companies are like great athletes. They never take anything for granted and they never stop working to improve themselves. Great companies continue to work on their internal environment and then they extend that to their customers.

How is your leadership? What’s your corporate culture like? Are those things attracting great people? And does your “culture of greatness” extend to the way you treat your customers? What’s one thing you can do today to make your company a great company?