To be a successful business leader, one must understand the perpetually changing needs of an organization. Specifically, you must be able to quickly shift resources to adapt to the business environment as it is, not as it used to be.
When I returned to the family business 13 years ago, Home Loan Investment Bank was operating under a more traditional entrepreneurial model, with a strong and charismatic leader, my father, John Murphy, overseeing every facet of the bank. I realized very early on that, to be successful, I could not do it alone.
Rather, it would require a team with a diverse skill set to address the various needs of a business that had grown increasingly complex.
That recognition translates into a flat hierarchical structure. Communication flows freely between staff, management and executives, and we include management and staff in key decisions to foster an open, learning culture.
I am constantly identifying and elevating people who share the company's vision for success and empowering them to make tough decisions that will help us achieve our goals.
Communication is the lifeblood of an organization, so we maximize the exchange of information between meetings, memoranda, teleconferences and emails to not only distribute information, but also shape our culture.
The importance of culture is difficult to quantify, so it is often overlooked. However, a vibrant, positive culture will continuously propel a company to excellence. To ensure buy in, every manager contributes to our strategic plan, so Home Loan's core values are reflected in all their daily decisions. •
