I wrote this article for Business Insider, you can read the full version here. Below you will find a summary of the piece.
I worked at Goldman Sachs for 4 years as an investment-banking consultant. Here’s what my experience taught me about growing a business:
1. Build Consensus Around New Ideas
At Goldman, you’re taught to build consensus around everything you do. The benefit of building consensus is you get feedback early, remove the surprise factor and, most importantly, you bring the team into the decision-making process.
2. Hire Selectively To Grow The Right Team
I once met a guy who’d had around 36 interviews before he was offered the job. Goldman Sachs doesn’t hire just anyone. They hire those that fit the role, the culture and, most importantly, the team.
3. Every Little Helps. Even A Coffee Cup
Size matters at Goldman Sachs – right down to the coffee cups. I recall the size of coffee cups in the breakout areas mysteriously decreasing. I asked around, and came across a common theme around resourcefulness.
It’s not so much about your team’s ability to save a few thousand by drinking out of smaller coffee cups, but more about everyone recognising the importance of a resourceful environment.