Defining Your Core Values: A Step-by-Step Guide – Part 3

Defining Your Core Values

Welcome back, fabulous entrepreneurs! We’ve tackled why core values are the Beyoncé of your business and how to uncover them. Now, it’s time to dig deeper. Let’s get to the heart of what your core values really mean to you and your business.

Why Bother Digging Deeper?

You’ve got your list of core values, but what do they really mean? Understanding them deeply is crucial. It’s like dating—knowing someone’s name is just the beginning. You need to learn their quirks, habits, and dreams. The same goes for your core values.

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Step 1: Define What Each Value Means to You

Take each value and give it some love. Define it in a way that resonates with you. This isn’t just a dictionary definition. It’s personal. It’s how you live and breathe that value.

Example:

  • Value: Integrity
  • Personal Definition: Always being honest, even when it’s uncomfortable. Delivering on promises and doing the right thing, even when no one’s watching.

Step 2: Connect Values to Your Business

Now, link these personal definitions to your business. This connection makes your values practical and actionable. It turns abstract ideas into concrete behaviors.

Example:

  • Value: Integrity
  • Business Connection: We are transparent with our clients about what we can deliver. No over-promising and under-delivering. We keep our commitments and own up to mistakes.

Step 3: Illustrate with Examples

Examples make your values real. They show how these values play out in everyday business situations.

Example:

  • Value: Integrity
  • Example: A client’s project is delayed. Instead of making excuses, we inform them promptly, explain the reasons, and provide a realistic new timeline. The client trusts us more because we were honest.

Step 4: Understand the Impact

Recognize the impact your values have on your business. How do they shape your culture? How do they affect your decisions? Knowing this helps you stay true to your values, especially when the going gets tough.

Example:

  • Value: Integrity
  • Impact: Builds trust with clients, leading to long-term relationships and repeat business. Creates a positive work environment where team members feel secure and respected.

Step 5: Communicate Your Values

Your values should be visible to everyone who interacts with your business. Shout them from the rooftops (or at least put them on your website). Make sure your team, clients, and partners know what you stand for.

Example:

  • Value: Integrity
  • Communication: Include a section on your website about your core values. Share stories on social media that highlight how you live these values. Talk about them in team meetings.

Step 6: Embed Values in Your Operations

Make your values an integral part of your business operations. They should guide your hiring, training, and daily work. This consistency ensures everyone is on the same page.

Example:

  • Value: Integrity
  • Operations: Use integrity as a criterion in performance reviews. Hire people who demonstrate honesty and accountability. Train your team to handle client communications transparently.

Step 7: Reflect and Adapt

Your business evolves, and so might your understanding of your values. Regularly reflect on them. Are they still relevant? Do they still guide you? Be ready to adapt if necessary.

Example:

  • Value: Integrity
  • Reflection: Quarterly team discussions about how we’re living up to our value of integrity. If new challenges arise, we adapt our practices to stay true to this value.
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Real-Life Example: Core Values in Action

Let’s revisit our friend Mary from MinnyPrints. Remember her? She discovered her core values of creativity, integrity, and customer focus. But she didn’t stop there. She dug deeper.

For creativity, Mary defined it as constantly exploring new ideas and pushing the boundaries of traditional art. In her business, this meant regularly introducing new, innovative products and encouraging customer feedback to fuel her creativity.

For integrity, Mary saw it as being truthful and reliable. She applied this by being upfront with customers about shipping times and product details. No sugar-coating. Just the truth.

For customer focus, Mary believed in creating a delightful experience for every customer. She implemented this by personalizing her interactions, offering custom designs, and ensuring every purchase was a joyful experience.

Mary’s deep understanding of her core values transformed her business. Customers loved her honesty and creativity. They felt valued and kept coming back for more. Mary didn’t just have a business; she had a brand people adored.

Let’s Get Practical: Exercises to Deepen Your Understanding

Enough talking. Time for some action. Here are a few exercises to help you dive deep into your core values:

  1. Daily Reflection: Spend five minutes each day reflecting on how you lived your values. Did you make decisions aligned with them? Did you face challenges that tested them?
  2. Team Discussions: Regularly discuss values with your team. Share examples of how you see these values in action. Encourage team members to share their own stories.
  3. Customer Feedback: Ask your customers for feedback related to your values. Do they see your integrity? Do they feel valued? Use their insights to improve.
  4. Journaling: Write about each value. How does it show up in your personal life? How does it influence your business decisions? This introspection deepens your connection to your values.
  5. Role-Playing: Role-play different scenarios with your team where your values might be challenged. How would you respond? This prepares you for real-life situations.

Conclusion: The Power of Core Values

Defining and deeply understanding your core values isn’t just a business exercise. It’s a journey. It’s about knowing who you are and what you stand for. It’s about creating a business that reflects your true self.

When you live your values, your business becomes more than just a way to make money. It becomes a force for good. It attracts people who share your beliefs. It inspires trust and loyalty. It makes a positive impact.

So, go ahead. Dive deep into your core values. Embrace them. Live them. Let them guide you. And watch as your business transforms into something truly remarkable.

Ready to take the plunge? Share your thoughts and experiences below. Let’s start a conversation about the power of core values. Your business – and your soul – will thank you.

There are 3 articles in this Defining Your Core Values series. Check them all out here: Part 1 | Part 2 | Part 3

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