Why Core Values Are Important to Your Business
What makes your business tick? What is it about your business that makes it special, that sets it apart from others like it in your industry? đ€
You might think itâs your brand voice, or how you talk to your audience. Maybe itâs your branding in general. The colors, images, and logos you use are all unique to your brand. Or how about your business name? Thatâs one-of-a-kind, right?
While that may be true, itâs not all about looks. The things that truly create the foundation for your business are your core values: what you believe in, stand for, and work toward.Â
Letâs talk about why you should get clear on your core values and what they can do for your business.
They inform your organizationâs culture
Your core values set the bar for your organization. The quality of your products or services, the type of employees and clients you attract, what your business does, and why: these aspects of company culture are all informed by your businessâs core values.Â
Some traditional ways of reinforcing company culture include in-person activities, like going to lunch or happy hour with colleagues or chatting face-to-face. But If you work virtually, strengthening those bonds within your team can be tough. For remote teams, itâs even more important that you define your core values. Theyâll help keep your team on the same page, even if youâre miles apart.
They help your clients and customers understand you
Want to let your potential customers know what to expect when they work with you? Make your core values clear. When your core values are front and center for your business, youâll attract like-minded clients, not to mention followers, partners, and other organizations.
Sharing your core values also lets your potential clients know that business is more than just âbusinessâ with you. Itâs not all about increasing profit margins and boosting conversions and acquiring new clients. Itâs about working toward a larger goal, like making a difference or having a positive impact on the world.Â
They drive decision-making and behavior
When you define your core values, youâre letting people know what everyone in your organization stands for and strives toward. You, as the founder/CEO/leader, set the tone for your teamâs attitude and actions through your core values.
Think of your core values as the driving force behind your organization. Without them, itâs easy to forget why youâre doing what you do and how you should approach your work every day. Itâs why core values are also sometimes called ââguiding principlesâ because of the way they influence your business operations.
Tips for determining your core values
If you canât name your core values off the top of your head, thatâs okay! Chances are you have them in place, you just havenât defined them yet.
Ask yourself why you started your business
Think about your one main reason for doing what you do. Chances are you noticed a problem or a lack of something in your industry. You realized that you could bring a unique product or service in as the solution. What made you take that crucial step forward and launch your business?
For me, it was when I was juggling a full-time corporate job and my role as a busy mom. I was overworked and exhausted, so close to experiencing burnout, before I took that leap of faith and started my business. I wanted to help people grow their businesses more efficiently so they could enjoy being an entrepreneur, not feel exhausted and stressed! That was my âwhy.â
Think about your personal values
The core values for your business will most likely reflect your own personal values. Yes, they should be relevant to your industry, but they should also align with what you believe in and stand for as a person. If they donât, your business may feel inauthentic...and it may be hard for others to trust your organization.
Get your team involved
Ask your team what they believe your business stands for! What are their personal values? What do they think makes your organization special, and why do they choose to work for it over another company? Having your team members involved in defining your core values ensures they understand those values. Theyâll also accurately reflect your teamâs beliefs.
Letâs bring your vision for your business to life
Core values are essential in creating an authentic, trustworthy, and honest culture for your business. When you define and share your core values with your team, clients, partners, and audience, youâre letting them know what you stand for and why.
Have your core values changed over time, and youâre not sure how? Are you trying to scale your business and itâs not quite living up to the vision you have for it? You might be feeling uninspired, stuck in a rut or just completely out of alignment. And thatâs totally normal. I can help!
Letâs get your business moving forward and back on track with your vision. During a VIP Day with me, weâll streamline your business so you can free up your time and start scaling with ease. Book a call with me today and letâs get started.