Have you ever related to a business, brand, or company based on what they stand for? You actually were likely aligning with their values.
What are core values?
“Core values are traits or qualities that are not just worthwhile, they represent an individual’s or an organization’s highest priorities, deeply held beliefs, and core, fundamental driving forces. They are the heart of what your organization and its employees stand for in the world.” – The Balance Careers.
As an entrepreneur or small business owner, you are likely the face of your business, and therefore should have some core principles on how you operate your business and show up in the world.
There is a shift happening where core values are becoming more influential than boasting about revenue, accomplishments or capitalistic goals. Why? Because of human connection! Humans crave knowing about the person behind the CEO title and what that person values.
Gone are the days of “business as usual”, now entrepreneurs are embracing their authentic values and creating a bigger splash by talking about their beliefs.
Why are core values important?
According to Forbes, “63 percent of consumers say they want to buy products and services from companies that have a purpose that resonates with their values and belief systems.” That means that if you are an entrepreneur, then it is imperative to spend time defining and articulating your business values.
Your community and potential clients are waiting for you to share what is important to you beyond just dollar signs and income claims.
How do you define your values as an entrepreneur?
A helpful exercise to define your core values is to write down the 3-5 most important principles to you as a business owner. Here is a list of core values to get you started.
Does integrity drive you? Is inclusion important to you? Do you make sure every program you run is financially and visually accessible?
After writing down these 3-5 guiding principles, put meaning behind those values. Expand on the “why” these values matter to your business and the meaning behind these words or phrases.
How to take action guided by your values:
After defining and providing meaning to your values, now is the time to put them into action.
I look at values as the foundational building blocks of your business. Move over content pillars, core values are what truly matter to you.
Instead of looking at defining your values as a one-off activity, try to weave your values into your major and day-to-day business decisions.
If promoting racial equity is a core value, then you would make sure that you are hiring from a diverse pool of applicants, or a diverse slate as an organization.
If integrity is a core value of yours, then you would thoroughly research each collaboration opportunity and turn down opportunities to partner with entrepreneurs that have a history of exploiting underpaid employees.
I view values as the lens in which business and collaboration decisions are made.
Want to take a look at my core values? See my 2022 values here!
Final reminder: your values and beliefs change as you evolve and your business evolves. If your values feel off in a month, tweak them! If they feel stale in a year, get new ones!
Need help doing a deep dive into your values as an entrepreneur and implementing more inclusion into your business? Apply for my 6 month 1:1 Program where we create your unique brand of inclusive business practices.
