What are Core Values and Why Do They Matter?

Ever feel like you’re just not sure if you’re doing things right, or that there’s some kind of universal code for success that everyone else seems to know but you?

Chances are the piece that you’re missing is clearly defined core values.

Having core values is crucial for navigating the world with any degree of success. If you don’t know what your core values are, read this blog post and find out how they can help your business thrive in today’s rapidly changing world.

Let’s talk about what Core Values are and why they matter in your business:

What are core values?

Your business’s core values are what guide you in making decisions, setting goals, and creating the business of your dreams. In their most elemental form, they are the words that describe what matters most to you and/or your business. They allow for the clarity and determination of what is truly the heart and soul of your business.

For a solopreneur, core values are often closely intertwined with their personal values. For businesses that operate with a team, they can be a little broader, but always circle back to the heart of what the business is about. Regardless of having a team or being a business of one, core values are the beliefs that matter most -aligning with what you really want your company to represent; Being able to cut through all noise by focusing on those few things worth doing.

Why do you need clear core values in your business?

To grow your business, it is important that you are able to lay the foundation for what makes this company unique. Identifying our core values can help us do just that by creating a source from which growth flows naturally!

Defining your core values can help you align the business with what’s most important to you. In turn, this will lead to:

• A much simpler process for making decisions.
• Defined customer service/experience goals.
• Identifying the qualities and character traits you want in your team members.
• An easily defined mission statement.

Knowing your core values will help you automatically process which type of goals you should be striving for, and allow those that don’t fit to flow right through. Think about them as a sort filter for business; stopping pieces that don’t fit into place while allowing the ones with potential to pass through

Knowing what drives success in any given situation can be difficult — but not knowing yourself is even worse! It takes time and effort to understand what you truly want your business to stand for. But there are some very specific questions you can ask to help you discover the right core values for the business you’re growing.

Discover your core values by asking these questions:

What do I want MORE of in my life and business?

Some people may want more white space in their calendars to be less tied up at work. For these individuals, it can help them achieve one of the things they value most – being free! By knowing what is important for you will help with making decisions on behalf of your business so that he or she gets better results from this approach.

Determining what you want more of is key to discovering some of your core values.

What would I like LESS of in my life and business?

The opposite side of the first question is just as important – what do you want less of?

If you’re anything like me, you want less stress and financial strain! Maybe some time off sounds good (and it would be great if we had more money too). Or maybe you want less insecurity or “comparisonitis”.

Understanding the things we want less of in life can be just as illuminating as what we want more of.

What is the legacy you want to leave? What do you want your business (and yourself) to be known for?

In a world where each one of us is going to leave our own unique legacies behind, have you thought about what type or impact you want your business’s legacy to be? What kind of mark can it make in the lives around you? And as time goes on, what will people remember about you and what you built?

Once you know what legacy means to your business, and what you’re building for the long haul, understanding the core values that align with what you want to create in your business is so much easier!

Building a successful business is about more than just your product or service. It’s also about values you hold dear.

Jennifer Jayne

If you want to build a company that stands for something greater, then it’s important to identify what those things are first.

Here at the LBI Backstage Pass, we have 5 core values that are the heart, soul and mission behind everything we undertake! Over the next few weeks we’re going to share our core values with you and go into detail about why they matter to much to us!