DEFINE THE FUNDAMENTAL VALUES BY WHICH YOU WILL RUN YOUR BUSINESS
Okay – so now that you are here, you know that:
- Your Business Mission Statement provides a path to understand the business vision in line with its values; defining your business’ purpose and primary objectives
- Your Business Vision Statement defines both the purpose and values of your business and can encourage you to achieve defined objectives, even if they are objectives that stretch you, knowing that the vision is SMART (Specific, Measurable, Achievable, Relevant and Time bound).
- Your Vision Statement also defines your business’ reason, in terms of your business’ values.
- These statements have a direct influence on your business’ bottom-line and success.
Business Values are guiding beliefs about how YOU want things done.
Value Statements: You demonstrate and represent your values in action in your personal and work behaviors, decision-making, and interpersonal interaction.
Here are a few value statements:
- Marketing is a constant, learning process.
- Maintaining outstanding customer relationships is key.
- Operate with integrity and accountability.
- Give back and support participation in the community activities that empower others.
- Provide quality and thoughtful services
- Showing improvement, innovative actions, credibility, and honesty.
- Enjoy your business, achieve your vision!
Consolidate the common values by which your business will be operated.
Example of value statement: In conducting our business, we will realize our vision by performing our affairs so that our actions provide confirmation of the high value we place on:
INTEGRITY: by dealing honestly with our clients, staff, vendors and community.
RESPONSIBILITY: by considering the environment in which we do business, community views and the common good.
PROFITABILITY: by being aware that an appropriate level of profit is necessary to maintain our business and allow our values to continue to be observed.
VALUE: by providing quality products/services that deliver value for money.
Once your Business Value Statement has been defined, these values will impact every piece of your business.
How can the values you identify have an impact on your business?
1. Value Statements provide boundaries on how your business successes will be achieved. Business objectives and goals are grounded in the established values.
2. You and your staff demonstrate and model the values in action in personal work behaviors, decision-making, contribution, and interpersonal communication, to ensure a value-based, shared culture.
3. Your Business Values will help establish priorities in your daily work life.
4. Values will guide decisions that are made.
5. When hiring and promoting others – their outlook and actions will need to be congruent with these values.
The work and art of a successful business includes planning – And, that is where a business coach comes in to help you put this together. Because success is a piece of art.