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#688 - Steven Bartlett - 17 Raw Lessons About Human Nature

Modern Wisdom

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The Importance of Retaining Talent and Sweating the Small Stuff

Successful businesses go through three stages: cult, growth, and enterprise. In each stage, different types of talents are needed. However, it is crucial to retain those who have deep knowledge and understanding of the company's culture and values. Like Sir Alex Ferguson, who kept his players around even when they couldn't perform on the pitch anymore, because they embodied the culture. Strong cultures are self-policing, and new people adopt the culture. In order to succeed, it is important to have people who have been there from the beginning and can adapt to the different phases of growth.

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