Everyone on this site who has their own business either started their own business right out of high school or quit another job to pursue the dream of being their own boss. Those of us who left another company are all too familiar with the “core values,” “stated missions,” and all that big-company bullshit. And even those of you who have never had the pleasure of working in a corporate environment may have avoided this direction altogether out of disgust for such things.
And while I pretty much intend to stay away from mission statements for the rest of my life, there’s definitely something to be said for core values. In fact, for many entrepreneurs, your core values will drive almost every aspect of your business.
core values
Establishing your company’s core values can be especially important when you’re just starting out. The reality is that the vast majority of small businesses will not be some kind of groundbreaking enterprise that will revolutionize the world, but rather will either fill a niche or work to serve a very local market. So in the end, your core values will most likely be what sets you apart from your competitors.
Core Value Example you could use to shape your business, is a strong commitment to honesty. No matter what business you’re in, there will be opportunities where you can falsify the numbers a bit or move some of the data around, resulting in more money in your pocket. Are you ready to do it? I hope not, and in the end, decisions like these will inevitably shape your business and your long-term success.
Another core value you will want to consider how you will support your employees. We all know that happy employees are more productive, but how far are you willing to go to make and keep your employees happy?
Your core values may also include your brand. For example, I run a fundraising company that focuses on providing groups with environmentally friendly and healthy fundraising options. I have to decide what is earth friendly and how far I’m willing to go before something just doesn’t make sense as part of my business identity.
Some businesses may only need one core value, and the rest of the business may be defined at that single point. For example, the business model of a high-end grocer like Whole Foods is based solely on the goal of providing the very best products. They don’t work to offer the best prices or the brightest marketing. No, they just want to offer their customers great food from all over the world. Even if you work alone, maintaining a commitment to offering the best, cheapest, or fastest product or service is absolutely essential to success.
As our business grows, it can be very easy to try to move away from the core values we have relied on to build the foundations of our companies. And if you founded your company a week ago or 10 years ago, I encourage you to take some time to think about how you want your company to look and make sure it lives up to your standards.
Jordan Gottlieb is the founder and CEO of Go Green Fundraising. He was fed up with mission statements when he worked for a large international IT firm, where he came to his senses and started his own business. He works to revolutionize student fundraising by offering helpful, educational and sustainable fundraising ideas.
