Strategic advice Evolving your challenger mindset as an established company

When employees embrace a challenger mindset, they feel encouraged to keep pursuing fresh ideas. That nimble thinking can help established companies swiftly adapt to changing market conditions.

Nurture an atmosphere that encourages growth, creativity, and an openness to explore conflicting viewpoints. Does your team know you care about their feedback and are genuinely interested in their point of view? How do they know? Challenge them—and yourself—by asking questions and actively listening.

“Driving innovation is not about riding a new trend or making your workspace more appealing,” says Hughes. “It’s about promoting discovery and finding those people on your team who can motivate others to be innovative. Reward and celebrate your employees who push boundaries and find new ways to approach problems, and you’ll encourage more people to follow their lead.”

Innovation can come in many different forms for established companies. You might want to replace legacy systems with a technology solution that helps automate tasks or improve speed to market. You may be ready to create new products based on feedback you’re receiving from customers. You might even identify a niche market that no one else has tapped. Opportunities like these could propel you from the established stage back into a period of renewed growth—or even trigger a transition into a new business model.

Grady Health System operates one of the largest HIV/AIDS clinics in the country— the Ponce De Leon Center in Atlanta. Grady’s leadership realized they needed to innovate to enhance care for the increased number of HIV/AIDS patients within their communities.

Working with Truist, the health system was able to secure a unique funding solution. The New Markets Tax Credit Program provides a federal tax credit to investors who make equity investments in projects benefitting qualified low-income communities, sometimes referred to as distressed communities.

As a result, Grady obtained nearly $40 million in new funding to complete a renovation and improve technology to better help their growing patient population.

“The challenger mindset helps eliminate the danger of complacency,” says Hughes. “And as you think about those unique ways to continue to push your company forward, your Truist relationship manager can help you plan and manage your efforts. The more we know about your evolving goals, the better we can help you identify not only the opportunities, but the best options for funding that growth.”