7 Reasons Why Your Core Values Are Vital to Your Business

7 Reasons Why Your Core Values Are Vital to Your Business

What do your core values say about your business? More importantly, how are your core values acted upon and lived throughout your company?

Answering these two questions is vital to ensuring that your core values are more than just slogans or plaques on a wall. Your core values are the bedrock of your company culture, and culture thrives when it is built from the top down. Meaning, your core values need to be lived every day from your CEO down to your entry level positions.

Your core values are also critical to the success of your relationships with your customers. When your team operates on the same page and holds each other accountable, this sense of accountability and integrity will transpire through your customer interactions. It will lead to a trustworthy branding of your business as your customers know that your employees will do what they say they will do when they say they will do it.

Your Core Values are the “glue” that holds your business together.

Doris P. Johnson

There are countless reasons why your core values are vital to your business. Unity and accountability internally and a trustworthy brand externally are just a few. Let’s dive deeper into these reasons that we have briefly mentioned as well as some others.

Here are 7 reasons why your core values are vital to your business.

Accountability

Regardless of your core values, they should be lived throughout all levels of your business. Cultivating a company culture that embodies these core values and rewards those who uphold them creates a sense of accountability within your organisation. This sense of accountability is important for all facets of your internal business. It should lead your recruiting and hiring efforts as you search for candidates who have a clear track record of work that gels with your core values. It should also guide your onboarding process as you explain to new employees what your business is about. This sets the expectations from day one, both for what you will expect from new hires and what they can expect from you in return.

Unity

The deeper theme at play within a culture based on accountability is unity, a cohesiveness of all employees working together to accomplish the same goals. Unity is key to running a successful business. It encourages a collective buy-in of all team members. It allows for team building and sparks creative collaboration and problem solving. Within a unified team, a win for one team member is a win for all as it’s a step closer to achieving the collective goals.

Unified teams also take better care of their customers since all members are on the same page for the customers in their care. Implementing weekly team meetings to discuss each customer’s needs and keep all team members up to date demonstrates unity. When a customer checks in for a status update, anyone on the team can provide information service.

Unity is strength… when there is teamwork and collaboration, wonderful things can be achieved.

Mattie Stepanek

Originality

Your team members need not sacrifice their individuality to join the collective efforts. Unity does not mean “sameness” in lieu of diversity. In fact, it’s quite the opposite. A unified team requires diversity to thrive. It requires unique individuals from different backgrounds who can offer unique and different perspectives. Creativity thrives in eclectic environments, not muted and uniform ones. Unique individuals working together to achieve common goals is the winning recipe for a successful business.

Creative days and workshops are great ways to take advantage of your team’s originality. Regularly scheduled collaboration time can spark interesting conversations that shine light on new ways to work faster and better than before. It’s from collaboration sessions that many businesses find the next great idea that will shape how they do business going forward.

Inclusivity

Stemming from your team’s originality is the ability to foster inclusivity. A unified and accountable team knows that they can trust each other to speak openly and honestly about problems that arise. Open and honest communication is vital to your team’s creative problem solving. Unique problems require unique solutions, which occur more easily when your team is comfortable voicing their input. When even your most shy and quiet team member knows that their opinion matters, you will have no shortage of creative ideas and solutions. This will enable your business to solve whatever problems may arise.

We want a culture that is inclusive of everyone and where everyone who joins feels they have opportunities to succeed and grow.

Nellie Borrero

Trustworthy Branding

If you live out your core values internally, the results will shine outwardly through your customer interactions. Your customers will know that they can count on your team to get the job done the right way, on-time and that any discrepancies will be handled in a timely and professional manner. This is what accountability looks like to your customers, and it will earn your business a branding of trustworthiness.

Your business goals are your team’s goals, but more importantly, they are the goals of your customer’s, and they have entrusted your team to achieve them. After all, it’s your customers that keep you in business. When your team is unified and holds each other accountable, your customers know that no matter who is handling their concerns, they are doing so in a knowledgeable way, and they are supported by others who can help if needed.

If there is one characteristic that sets you apart from your competitors – it’s trustworthiness. You may not be the cheapest, the fastest, or the most high-tech, but if your customers know they can trust your business to get the job done right, your business will succeed.

Preparation

Your core values are the guiding principles of your business. It’s what you have decided your company will be about. It’s what differentiates your business from others in your industry and what makes your business unique. If you stray or get lost, your core values are there to get back on track.

When you live your core values every day, your team is prepared to adapt. Be it a promotion, a new direction, or a new strategy implementation; your team will be ready because they know they can count on each other to embrace the change together. Any complications or growing pains will be troubleshot and overcome.

Change is inevitable in business. Failing to adapt to changing market trends or not implementing new tools to improve your efficiency can hurt your business. But no matter what changes may be around the corner, you can count on your core values to navigate your business through any new and uncharted waters.

You can count on your core values to navigate your business through any new and uncharted waters.

You can count on your core values to navigate your business through any new and uncharted waters.

Provide Guidance

Your team members deserve to know how they are doing. A company culture that is based on accountability, unity, and originality encourages open and honest communication. Some of this communication should be regular guidance from more senior team members. Team members who are invested in the company’s collective goals will want to know how their work is affecting the greater mission and what they can do better to further this cause.

Make sure to schedule regular meetings with each of your team members so you can provide them with guidance to help them improve within their role. Constructive feedback and praise for their contributions will further strengthen your company’s unified culture that has been built upon your core values.

Need Help Implementing Your Core Values?
If implementing core values and processes into your business for growth and improvement is a priority for you, get in touch with us today. Let’s find out how we can help you design a systemised business faster and easier than trying to figure it out by yourself.