When Rotem Eylor founded Republic Floor a decade ago, his odds of success were not good. At that time, experts said 9 out of 10 startups were destined to fail.
Ten later, Eylor has clearly beaten the odds. Republic is leading the flooring revolution with its ground-breaking waterproof engineered flooring products. The company has secured a place among the pioneers of resilient vinyl Pure SPC flooring, using the most advanced manufacturing techniques and offering its customers the most exciting floor designs.
Republic’s success flows from two core business practices. The first is visioning, which Eylor defines as developing a picture of the overarching goals the organization will strive to accomplish. The second is putting people first. To make his vision a reality, Eylor committed to building a people-centered organization where engaged and satisfied employees became the driving force behind its ongoing success.
Entrepreneurs looking to achieve the same level of success Eylor and Republic have enjoyed can apply these two concepts to attract top talent and drive continuous growth.
The benefits of taking a visioning approach to entrepreneurship
Visioning is a discipline that defines what your business was established to accomplish. It identifies your North Star. Entrepreneurs who engage in visioning can make decisions with confidence because they never lose sight of what they are trying to achieve. It keeps business from getting sidetracked by obstacles as well as opportunities.
“Visioning is not about goal-setting,” Eylor says. “Deciding you want to increase your client base by 20 percent or achieve a 4.5-star rating on Google is fine, but it’s not visioning. Entrepreneurs who engage in visioning develop a picture of what they want their business to look like in the future. Then they use the picture to guide their actions so every step brings them closer to their vision.”
Visioning provides a roadmap for growth in every area of a business. It gives entrepreneurs the information they need to know where to reinvest, when to redirect, and what product or service they should launch next. Visioning empowers entrepreneurs to identify the opportunities that are worth the effort.
Entrepreneurs who practice visioning also inspire a deep commitment to innovation in their companies.
“Visioning gives you a specific destination that your effort will push you toward, but it doesn’t limit you to a particular process, strategy, or business model,” Eylor explains. “Because it gives your team a ‘where’ but not a ‘how,’ it sets the stage for innovation. It leaves space for great ideas to emerge.”
Innovation has been a key player in Republic’s success. The company’s flooring products have set new standards in health and safety, raising the bar on quality and environmental sustainability for the flooring industry.
“We are always pushing the boundaries of manufacturing to create the most advanced, resilient, and attractive flooring materials,” Eylor says. “Our revolutionary Pure SPC Max waterproof flooring collection, for example, is the most robust and rigid vinyl floor covering currently available, with a 40 percent stronger core for stability and strength, an innovation we developed without compromising appearance and style.”
The benefits of taking a people-centric approach to entrepreneurship
In today’s business world, placing a premium on employee happiness is a strategic imperative. The old ideas that prioritized maximizing shareholder value, even at the expense of employee satisfaction, no longer lead to success.
“Successful entrepreneurs know that thriving companies are built upon engaged employees,” Eylor says. “When you build a culture where employees can be engaged and happy, they become the driving force behind enhanced innovation, productivity, and customer loyalty. As I have embraced a people-centered approach, I’ve seen it unleash my employees’ full potential, which paved the way for a thriving business.”
The culture Eylor built at Republic not only helped him retain employees, but also attract top talent looking for opportunities to use their skills in a people-centric space pursuing an inspiring vision.
“Employee retention is just one of the benefits that businesses experience when they commit to being people-centric,” says Eylor. “You also build a strong reputation as an employer of choice, which means you have top talent seeking you out. Overall, investing in the well-being of your employees creates a positive feedback loop for an organization, in which employees feel valued and inspired to support the company’s vision.”
The intimidating statistics on startup success Eylor faced as he launched his company continue to ring true today. But by following in his footsteps and establishing a people-centered and vision-driven company, any business can overcome the odds and build a business that attracts top talent and experiences continuous growth.
