Does your company “need” core values?

What are core values and why are they so darn important?

Core values are the guiding principles of a person or an organization, as demonstrated by its behaviors and decisions.

And they exist whether you “officially” write them down or not.

Wait, what?

Contrary to what many business owners believe, a company’s core values aren’t always chosen, and, if they are chosen, they’re not always true. Core values reflect the actual actions, choices, and behaviors of an organization—whether or not they align with pretty words on their website.

This is what separates the companies that look great on paper and the ones that feel great in person. The difference isn’t just the words they use—it’s in how they put them to use.

Quick example: If you constantly miss deadlines to deliver a better product, you value results and quality over speed and accountability. Not bad, per se—unless you also list speed and accountability as core values.

If you’re in this situation, the following questions come up:

• Do your current (and actual) core values reflect who you truly are or want to be?

• Are they serving you as intended?

• Do they need to be defined and aligned?

• What must you change in your behaviors and processes to happily and confidently live by all three?

• What metrics can you track to make sure you’re operating within these values?

This all sounds great, but I’m more concerned about my bottom line.

If your values are out of whack, you should be.

While it may seem like a small “dressing” detail, a well-defined core value system is a critical part of any business plan.

Because core values influence and impact every decision you make as a business—from the people you hire to the clients and projects you take on. Live by them, and those decisions and wins are easy. Ignore them, and you’ll feel friction, frustration, and failures.

In other words, core values won’t necessarily tell you right from wrong. They help determine what is right and wrong for you and for what you are trying to achieve. 

And isn’t this something you want your leadership, your employees, and the world to know?