Promoting a Close-Knit Company Culture Can Lead to ProfitabilityA team who spends time bonding outside the office could possibly work better inside the office.

In this video, Entrepreneur Network partner Eric Siu continues his conversation with the president of AppSumo, Ayman Al-Abdullah, about his approach to building a long-lasting team.

Al-Abdullah talks about the culture of his company, AppSumo. The company's president recounts the interesting story surrounding the company's beginnings. The company talks about implementing trips and team happy hours into the company's schedule. For Al-Abdullah, culture is simply about hiring the right people who will be open to taking on new responsiblities and can think outside of the 9-to-5 work schedule.

The company also makes an effort to encourage team bonding and have personal conversations by taking the team on a retreat to Seattle, where everyone will go to the woods together, as well as enjoy the city's nightlife together.

Finally, in order to get your team on the same page and move towards profitability, your business shouldn't focus on the latest industry news, but strategies that have worked for you already. By analyzing these top three tactics, can help sustain a successful entrepreneurial path.

Click the video to hear more AppSumo's Ayman Al-Abdullah and Eric Siu's conversation.

Related:Why This Startup Went Through Nearly 50 Interviews to Find the Right Hire

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