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Written by Richard Parrott, Ph.D
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On the first of January it is a most common practice to set a New Year’s Resolution. Today, according to a US Government survey, the five most popular resolutions are: 1-lose weight, 2-pay off debt, 3-save money, 4-get a better job, and 5-get fit.
It may be helpful for a business to resolve to “lose weight,” “pay off debt,” or “get fit.” However, the best resolution you can make for your business is to review your business values.
A New Year’s Resolution for Your Business
Values are the accepted principles or standards of your business. Values guide the way you conduct your business with your clients and customers. Good business values impress your clients, bring out the best in you and your team, and improve your business.
An example of a business value is: "Customer Satisfaction." Another example of a value is "Being Ethical and Truthful." Every company has one or more values, whether they are consciously aware of it or not. A value is a statement your business’ intention and commitment to achieve a high level of performance and service.
In many recent business management books and journals, developing, adopting, and implementing values has been identified as a key factor in the success of many high growth, high profit companies. In a recent survey, passion for a value and its implementation into the daily activities of work was identified by many business leaders as the single key to their business success.
Values are the Bedrock of Your Business
Values form the bedrock of your organization. Business values describe how you will deal with your clients and customers. Here are examples of business values:
Professionalism Value Drive Helpfulness Honesty
Quality Individualized Client Centered Motivated
Achievement Knowledgeable Competence Prepared
Innovative Responsive Empowerment Appreciation
Expertise Integrity Trustworthiness Fully Engaged
Availability Caring Teamwork Need Oriented
Friendliness Responsive Dependability Trusted Advisor
Here is a written example of a business value:
Trusted Advice: We will know our products and the needs of our clients by ever increasing and updating our knowledge.
Description: We recognize the responsibility that we bear in making recommendations to clients based on discovered needs. We are conscientious students who seek to gain product knowledge through study and specialization. We will present ourselves as professionals in dress and conduct that earns the respect and trust of our clients and team mates. We will listen to uncover client needs and recommend solutions.
I remember the manager who scoffed at the idea of writing values. “We write them down and then we fail at doing them.” All businesses fail and fall short. But values help you fall in the right direction. You learn from the failures and become better. Step by step and even failure by failure, you are moving your business into the future you envision.
Here is another example of a business value:
Absolute Integrity: Our actions and performance are consistently driven by the desire to uphold ethical standards, despite personal impact.
Description: We deal with our clients and teammates with sincerity and honesty, disclosing all information as it relates to our products and processes. We sell only what meets a client’s need and improves the client’s position. We never create a “pity based” sale. (i.e. “I need this sale to meet my quota.”)
Values Energize Authenticity and Effectiveness
Values are the bed-rock of your business. They are non-negotiable. Tactics are adjusted to meet current challenges. Strategy is always a compromise of ideal hopes and practical considerations. Yet, values stand firm. Never compromise on values. Hold to them and you build on bedrock rather than sand.
Your values connect you to what is meaningful. They give significance to your life and leadership. They are an anchor in a storm and a victor’s crown at the end of a long battle. I remember another member of a leadership development program that stopped me in mid sentence and expressed, “If these values come out of me, why do I need to write them down?” You write them down in order to communicate them to your team. You must communicate them intentionally, authentically, and in words and actions. Start the New Year with a Full-Team Review of Your Business Values
Values Create the Life You Want to Live
Your values release the life you want to create. They express what is true and best in you. They guard the life you want to create. They protect your relationships, character, and purpose. They energize you. If you are not clear about your values and beliefs, you are apt to change your position at any moment. Values keep you moving in the direction of your hopes and dreams.
Everyday a fisherman went down to the sea, set sail across the waves and cast his net into the deep. There were other fishermen on the sea in little boats casting their nets as well. A friendly competition developed among them over the years as each tried to outdo the others.
At the end of one day that had no particular importance, our fisherman sat in the sand before returning to the village where his wife and children waited for him. He looked long and hard at the sea. Suddenly he realized that everything he had done on the sea was washed away. There was nothing to show his success or failure.
He turned toward the village where cook fires were casting low, inviting light. He heard the sounds of the children and recognized the voices of his own. He also realized that the true value of his life was not on the sea but on the shore.
He remembered this each day as he went back out on the sea. He remembered that it is not the passing storm or the single catch that gives meaning, but the cook fire and the voices of his wife and children.
You will make important decisions in 2008. Values guide your decisions. Live and lead with 1) values that release what you want to create with your life, 2) values that connect to what is meaningful for you and 3) values that advance the business you envision.
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