As a business owner, you're accustomed to wearing multiple hats—sales, marketing, customer service, and the list goes on. But there's one hat that often gets left on the rack, gathering dust - your governance hat. It's not the most glamorous part of running a business, but it's essential. And at the heart of corporate governance? Your Vision for the business, Mission Statement, and Core Values.

Now, you might be thinking, "I've got a vision for my business, isn't that enough?" While a vision paints the destination, it's the core values that map out the terrain and guide you on your journey. They're the DNA of your company, the essence of your brand, and the heart of your business's identity. But what exactly are core values, and why are they so critical to your success?

Imagine your business as a ship navigating the vast ocean of the market. Core values are your compass, your North Star, guiding you through stormy weather and keeping you on course. They're not just words on a page; they're the principles that drive every decision and action within your company.

Let's talk about integrity, teamwork, transparent communication, respect for each other, and customer focus, as examples of core values. These aren't just lofty ideals; they're the non-negotiable standards that define how you operate. They're what make your business stand out in a sea of competitors. When your team embodies these values, you're not just building a brand; you're building a legacy.

So, how do these values shape your culture? It's simple: they're the rules of the game. Every member of your team is expected to adhere to your core values all the time—no exceptions. This isn't about ticking boxes; it's about living and breathing these values every single day. They're the filter for your decisions, ensuring that each choice aligns with the heart of your business.

But it's not just about keeping your team in line; it's about attracting the right players. Core values are a beacon, drawing in talent that resonates with your ethos. And when you have a team that shares your values, you have a team that's united, driven, and unstoppable.

Now, you might be wondering how to unearth these values. It's a journey of discovery, and there are many paths you can take. One approach is to gather your key players and brainstorm. What values resonate with your team? What principles are non-negotiable? I suggest that you start with a broad list of values and whittle it down to those that best reflect your shared values. Whether you end up with five core values or ten, the key is to make them clear, actionable, and integral to your business.

Once you've defined your values, it's time to embed them into your company's fabric. Kick off meetings by discussing a different core value each meeting to ensure everyone understands what it means and why it matters. Make your values more than a plaque on the wall; make them the heartbeat of your business.

If you're feeling stuck, consider the inverse. What values do you absolutely reject? What's the antithesis of what you stand for? Sometimes, understanding what you're not can help clarify what you are.

Defining your core values isn't just an exercise; it's a commitment to excellence. If you're ready to take that step, I'm here to guide you. Let's connect for a 30-minute strategy session—at no cost and with no strings attached—to explore further this topic of core values and how they relate to you, your team, and your business. My online calendar follows this blog. Select the date and that time works best for you for us to have a no-cost strategy discussion about defining core values for your business.

Don't let another day pass by in the haze of uncertainty. Select a date and time from my online calendar below to schedule a 30-minute strategy discussion at no cost and no obligation.

To your success,

Jeff Lovejoy