Core values are the foundation of your business
SUE ALLEN CLAYTON
Tarot Card reader * YouTuber * Author * Loves books, quilting & dachshunds.
What is the foundation of your business?
I’ve been thinking a lot about the importance of foundations, which are the underlying structure and principles of our bodies, our businesses, and our society.
Feet are the foundation of your body
A few months ago, I badly sprained my ankle in an unfortunate fall down the front steps of my house. I am still having issues with my balance. It turns out that our feet – with 26 bones, 33 joints and more than 100 muscles, ligaments and tendons – create an incredibly complicated foundation for our body. When something is wrong with our feet, it leads to issues with balance and stability, as well as causing pain in our knees, hips and lower back.
Dealing with my balance issues requires something that I didn’t want to do – address the weakness in my feet that was caused by torn muscles and ligaments. In other words, any efforts to improve my stamina or posture are going to fail until I fix the foundational issues in my feet. Directing my efforts elsewhere is a waste of time and money.
The same philosophy is true with our businesses when we attempt to make changes without a strong foundation.
Core values are the foundation of your business
Core values are the foundational principles that guide your decisions. Core values describe what you believe and outline how your business will be conducted. Core values can be a guiding light when you are faced with difficult circumstances and the need to make unexpected decisions.
The COVID-19 pandemic provides a great example of how company safety plans were built on core values. UPS’s core values include integrity, safety, and innovation. It’s no surprise that, during the pandemic, UPS has been extremely focused on safety. They protected the health of their employees through increased cleaning practices and employee communication.
On the other end of the spectrum is Amazon. One of Amazon’s core values is frugality. It is not surprising that they are known to disregard employee health. The retail giant faced lawsuits for their lack of effort to prevent the spread of COVID-19 in their warehouses.
Create Core Values that support your business
Follow the steps below to generate a list of your core values. These steps are discribed more fully in the article 6 Steps to Discover Your Core Values published by the career company Indeed.
- Write down your values. (Use the list in this article for inspiration.)
- Consider the people you most admire. Choose six people who you admire and figure out what values they embody. These people can range from famous people (such as Michelle Obama or Martin Luther King, Jr.) to personal acquaintances (such as your fifth grade art teacher or your favorite aunt).
- Consider your experiences. Examine both positive and painful experiences in your life, then relate these to your values. For instance, a painful experience being bullied might have taught you the importance of empathy and compassion.
- Categorize values into related groups. These three values — stability, reliability, and punctuality — can be grouped together.
- Identify the central theme. From the previous list, I would choose reliability to be a core value.
- Choose your top core values. Five to ten core values are optimal. (Source)
Core Values in Daily Operations
Core values form the foundation for all aspects of your business. A good example is Northwell Health, which is New York’s largest private employer and health care provider. In an unfortunate four-month period over the summer, both my husband and I ended up one of their Emergency Rooms on Long Island. Despite the circumstances we both had excellent experiences. After getting to know their staff it became obvious that they embodied the core values of:
- Patient Experience. Always put our patients first.
- Integrity. Be professional, honest and protect privacy.
- Teamwork. Work together and communicate effectively.
- Innovation. Initiate change and promote creativity.
- Caring. Be compassionate, respectful, and supportive.
- Excellence. Pursue greatness with passion and promote quality. (Source)
Once you identify your core values, put them into practice. Use them as the basis for decision-making and to form a solid foundation for your business.
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About the Solopreneur Academy
The Solopreneur Academy was founded by Sue Allen Clayton to provide online education and support to female solo business owners. Our monthly live events include Master Classes, Book Club, Mindset Monday, Get It Done Day, and Office Hours. The Solopreneur Academy is committed to helping women grow their businesses — even if they are challenged by caretaking responsibilities or are coping with health challenges.