A relentless focus on corporate culture has helped Adam Miller sustain the growth of his software services firm — Cornerstone OnDemand — for more than a decade, culminating in an IPO that raised almost $200 million.
From the beginning, Miller recognized that his company’s success hinged on building and maintaining a corporate culture that nurtured innovation. He also realized that a strong culture was not an accident, but required sound planning, and that many rapidly growing companies were thrown off track because new hires soon outnumbered existing employees, overwhelming the original culture.
Miller avoided that pitfall by making it clear to all new employees that his firm’s culture centered on the core values of teamwork, client success and meritocracy. This was critical, because from its inception, the company has had to outwit and outmaneuver larger, more established competitors.
In fact, not long after the company was founded, the market for its services took a major downturn in the aftermath of 9/11. His advisors told him that the company would not survive without capital and should either downsize or go into hibernation.
Instead, Miller hired more people and closed three out of four major deals he had on the table. In addition, by broadening his suite of talent-management software offerings, he expanded his reach into Fortune 500 companies, growing from 300,000 subscribers in 2007 to five million subscribers by the end of 2010.
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