10 Aug How To Determine Business Values And Why It’s Important
Understanding the values and what you stand for can help you to build a business that feels good to you. Building a business based on your values and what truly matters to you will allow you to have a business that is not only meaningful to you but also profitable and sustainable. Because on the tough days, your business values will still stand and help you to do the work even if you don’t feel like it. In other words, your business will stand the test of time.
I also love to use my values as a filter for the activities and the things I end up doing in my business. If a project or business idea is not in line with your values you can simply move onto something that is a better fit. It makes saying no to projects and things that are not in alignment with what you stand for so much easier.
How to Identify your business values
Here are a few questions that you can journal about to help you identify your values.
- What are 3 things that you are most proud of in your life?
- Describe a moment where you felt really happy and fulfilled. What was going on? Who was with you? What did the moment look like?
- What are 3 times you are not proud of, rubbed you the wrong way or made you feel like things needed to change?
- Describe a moment that you felt angry or dissatisfied. What was going on?
- What do you stand for no matter what?
- Do you see any commonalities or trends in your answers?
Now you can find commonalities among the things you stand for and believe in. These are your values. You will want to use these values as a filter for everything you do in your life and business.
Here is an example:
- I am proud of myself for helping others.
- Every job I have had has been about service to others.
- When I was in corporate I was frustrated when others would not do the best they could to help others, when things were done in a poor way that hurt others and when things were intentionally done to hurt others.
- A common thread among all of these is service and doing the right thing.
- Filter: At one point I was in a product based business, obviously that is not passing the values filter and explains why I struggled to feel fulfilled in that business.
Building a business based on your values can help you to stick it out when the going gets tough. This is one of the foundational pieces of a profitable business.
How to use your business values
There are many ways that you can use your business values in your business. Here are a few of the ways that I use them. How I design my marketing and sales campaigns. The program and products that I sell and promote. The people that I collaborate with, hire and work with as clients. Ultimately, the values of your business drive all the of the decision making in your business.
Which is why I use it as a filter. It makes decision making easy and to make sure that others who I am working with understand what is important to our business.
In summary, you want to make sure you have clearly defined business values in your business so that you can easily make decisions in your business. Next you want to identify how you will be using your business values. It is also important to communicate your values with your team, peers and clients.
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