Defining Your Core Values

Whether you’re in the industry of customer service, transportation or consumer products, developing a list of core values is integral to the success of your company. They should work together to form the heart and soul of your company. Your core values are not only important for ensuring the success of your team, but they also help to define and shape your company’s culture, as well as the brand image and message that your customers and prospects will absorb. Every decision that your company makes should circle back to one or all of your core values.

That being said, I’ll be honest in saying that this process can be one of the hardest things that you’ll go through when running a company. So, how do we make it simpler? First, let’s break it down and answer the following questions:

  1. What values do you already apply to your own, everyday life? With friends? With family?
  2. What about your work life?
  3. What values do you inherently want each of your employees to have within them and abide by?
  4. What do you want them to get out of your company experience?
  5. What values will allow you to accomplish your mission?
  6. What values will allow your team to best serve your customers and accomplish their goals?
  7. What will you hire and fire by?

With the help of your team, come up with a rough list of options. Then, take the time – yes, time – to really absorb the possibilities. Ultimately, knock down your list to the four to five most important values that will truly help you achieve your mission.

At Far West Capital, we strive to integrate the Far West Five into everything that we do. First and foremost, we are a team. Together, we bring the best out of one another by encouraging and fostering positive relationships and open communication. To achieve excellence, we are transparent with one another and our clients to ensure that all parties are on the same page and obtain an authentic experience. We pride ourselves on executing our work by setting high standards. And lastly, what keeps us running is our drive and passion for helping other businesses and aspiring entrepreneurs unleash their full potential.

Looking to take it a step further? For more information on creating your entire strategic stack, check out my article, “How to Grow a Team Without a Foosball Table” for Texas CEO Magazine.

 What core values, if implemented, would most effectively help your team and your customers unleash their potential?

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