We’ve all heard the story: an underdog company steadily rises to stake their claim on the global market and the public consciousness. Yet, for every single success story there are hundreds of small businesses that fail to flourish. Where did they go wrong? Sometimes in order to learn and grow, it’s wise to reflect on the journey of the greats. Here are several tips from some of the world’s most innovative companies:

Focus on the Future

“Lots of companies don’t succeed over time. What do they fundamentally do wrong? They usually miss the future.” – Larry Page, Google CEO, 2005

When running your own business, it’s easy to get bogged down by the daily requirements that cause you to lose sight of future goals. A Financial Times interview with Google’s Larry Page includes the CEO’s thoughts on dreaming big and feeling free to indulge ambitions. For many business owners, we accidentally limit ourselves by focusing too much on short-term planning, ultimately selling ourselves short of our own potential. Take the time to explore the possibilities of what your business can accomplish, and what you hope it can accomplish. By keeping your eyes set on the future, you can grow your company in a way that allows it to achieve its maximum potential.

Embrace the Challenges

“Creativity loves constraint.” – Marissa Mayer, Yahoo CEO, Cannes Lions 2014

Clearly, Marissa Mayer does not shy away from challenges. When she became CEO of Yahoo, Mayer inherited a struggling company. Suddenly, being a female leader in the male-dominated tech world became the least of her worries. With regard to her choices and decisions, she’s been quoted that she views threats as opportunities. When it comes to creative problem solving, we tend to view restrictions as annoying challenges. In actuality, we should be using opposition to fuel our ability to innovate. Truly influential companies don’t shy away from obstacles; instead, they tackle constraints head on.

Invest in the People

“The most important thing is a person. A person who incites your curiosity and feeds your curiosity; and machines cannot do that in the same way that people can.” – Steve Jobs, April 20, 1995  

Any period of transition is undeniably a bit stressful for business owners, and Steve Jobs was no exception. In 1995, the year Computerworld Smithsonian Awards Program Director Daniel Morrow interviewed him, Jobs was focusing on his strategy to win back Apple with his company NeXT Inc. Still, Jobs knew the value of people over machines. No matter how groundbreaking the technology or the solution, it’s the people that will make a good company a great one.

Let ActionCOACH Tampa Bay Guide Your Business to Success!

Struggling with small business growing pains? Hit a sales plateau? ActionCOACH Tampa Bay has the small business solutions to help transform your business into an innovation machine. Reach out to us online or give us a call. We are excited to help!