In the past week, KIOSKED was chosen as the growth company of the year by Kauppalehti. I wanted to find out why, so I went to have a chat with the CEO, Micke Paqvalén, to find out what elements influenced their growth the most. Here are my thoughts on what he said:
1. The product-centric business model is broken
The importance of people is elevating in the digital age. What surprises me is the fact that so many companies are still only talking about themselves and their 'awesome' products. So forget about the product-based selling and marketing since the product-centric business model is well and truly broken.
I learned this a while back: Customer centricity is the key to success. You cannot behave in the social web like you have always behaved. Customers are demanding to hear stories, to be invited to be a part of the company, to be offered value and not lies!
A company's most important asset, the foundation for everything, is a deep understanding of who their customers are, according to Micke. Only then can you figure out the HOW: How to better serve them. How to fulfill their true needs. How to engage and discuss with them.
In my opinion, excellence means nothing if you have no one who's interested in buying from you.
2. Learning is the name of the game
I believe in life-long learning and I believe in companies who encourage learning in their everyday operations. This is exactly what KIOSKED has done: They have taught their people the art of pivoting, learning, and questioning. They have built their business on a "PIVOT DAILY -ideology”.
This has allowed them to be agile and lean. When you and your methods are constantly being evaluated and documented, you'll have a better chance of sustainable growth.
3. Leadership is crucial
As you grow your company and onboard new people and talents, leadership becomes more valuable.
Successful companies build communities, and a community consists of people who have similar passions and are driven towards the same outcome. As a leader, your job is to create a vision that your community can believe in. If you have done your job correctly, you don't have to tell people what they should do. I say: Trust your employees and let them flourish.
4. Serve, serve, serve..
On this one, I agree with Micke 110 %. Nowadays, the biggest change is that customers can come from literally anywhere. Companies need to be ready to serve 24/7. Successful businesses think customers first, thus they create a customer-centric business that is ready to serve when called upon.
Customers hold all of the decision-making power. Companies who are transparent in their communications with those customers are the champions of the business world.
Customers deserve your A-game - every time. If they don't get it from you, they'll go elsewhere. And that's a fact.
If you have anything to add to this, please comment below. If you find value in what I said, please, make sure to share it. Otherwise, see you on Twitter.