Curt Fowler | Fowler and Company
In March of 2009, WD-40’s stock price was less than $23. In September of 2016, the stock hit $120. As the song states, “they must be doing something right…”
That something right is being led by the company’s CEO, Garry Ridge. Ridge became WD-40’s CEO in 1997. Ridge transformed the working environment at WD-40 from that of a typical manufacturer into a dynamic culture where employees are constantly learning and sharing knowledge with each other.
Ridge led the organization through one of the world’s greatest recessions while growing revenues from $100M to over $350M today. Ridge refers to his team as a “tribe” and himself as the chief. He says a tribe is a group that “endures over time, it is all about belonging.”
WD-40’s results-oriented culture is based on six core values. Ridge recognizes that core values can compete against each other so their core values are ranked in order of importance. If a value is conflicting against another in a decision-making process, you go with the highest-ranking value. Walt Disney follows this same methodology by putting safety ahead of their other core values.
Below are WD-40’s top three values as described by the company:
Do the Right Thing
We do the right thing in serving our tribe, our stockholders, our customers, our products, our end-users, our suppliers and even our competitors. This means looking for the right action in every context and asking critical questions that bring out the best course or decisions relevant to the situation and the circumstances. It also means being honest in both word and deed. Being reliable, dependable and competent. And doing what’s right according to the situation and the context. If we are honest and we speak and act congruently, we will be doing what is right.
Create Positive and Lasting Memories
As a result of our interactions with our tribe and stakeholders, we all will feel better at the end of the interaction than we did when we began; we will leave with a positive memory of it. Our stockholders should be proud to say they own our stock. Our customers should consider us a part of their business success. End-users should be glad they purchased our products, telling their friends about the quality and utility of our brands. Our company name and our many brands should become known as emblems of quality, performance and value. Our tribe members should consider each other valued friends and colleagues who share work, struggles, successes, life and laughter over the years. If we successfully live these values, the result will be a higher degree of mutual trust and respect.
Make it Better
We value continual improvement. We are a learning organization. We are responsible for our own development and helping others to learn, as well. We celebrate our successes, then move on to new heights of achievement. We solicit ideas and solutions from all and consistently look for ways to progress. We are comfortable with self‐criticism and receiving constructive feedback. We take the time to recognize others who do the same. We endeavor not to repeat mistakes. We value the development of our people in order to enhance their skills and to improve their career opportunities.
There is a special moment which occurs right at the point in time where a person gains an insight or new knowledge because of a particularly positive…or negative…event. We are constantly on the lookout for these “learning moments,” because they are the fuel for continual improvement.
Next week, we’ll explore WD-40’s remaining core values and how you can follow their model to achieve lasting success for your company.
Curt Fowler is an organizational growth expert and President of Fowler & Company, a business advisory firm dedicated to helping leaders create and achieve a compelling vision for their organization. He has an MBA in Strategy and Entrepreneurship from the Kellogg School, is a CPA, and a pretty good guy as defined by his wife and four children.
Have a business growth topic you’d like me to cover or a question I can answer? Send suggestions and questions to cfowler [at] valuesdrivenresults.com.
