4 Ways to Make Sure You Are Implementing Your Business Values

If you have made a break from the corporate world to be your own boss, you probably have some ideas about how you’d like to do things differently. This is easy in theory but can become challenging in practice. One of the most important ways to keep sight of your aims is to establish your company’s values.

Defining your business values is a team effort, even if, as the company founder, you have definite ideas already. You could be going it alone, but you’ll still find it useful to talk to your external partners to truly understand what your values mean for your particular business. Having some key concepts like passion and integrity written down is the first step, but nowhere near enough.

Your values should be used to help you determine which direction to head in whenever you are faced with a decision to make. One of the best ways to embed that in the company is to find opportunities to implement as early as possible. Here are four examples to get you on the right track.

1. Customer Focus

You could be B2B or B2C, but at the end of the day, you want to make business decisions that have positive impacts for your customers. Having customer focus as a value means establishing open communication with the people you do business with. If your company recognizes that its success is down to its customer relations, then this value will be a priority for you.

The first step to guaranteeing that you are implementing this business value is to come up with a customer-first strategy. It should be an active document, not something to file away. In your strategy, you’ll need to tackle how you listen to customers and how you respond.

The more business you do, the more customer-focused you will become, just as the more you interact with customers, the more you can learn about them. Whether you are selling online or work face-to-face with clients, keep a note of the things you learn about their needs. You can add this to your strategy, so it shapes your processes.

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Misunderstanding Increased Interactions

Many believe that a higher volume of business and customer interactions naturally lead to a stronger customer-focus. However, this is a common misconception. Increased interactions might cause:

• Overwhelming data, making it hard to analyze and utilize for better service.
• Quality of customer service might decline due to high demand.
• Lack of personalized interaction due to a higher customer base.

Just having more interactions doesn't guarantee a better understanding of customer needs.

Ignoring Individual Needs

With the growth of the business, there's a risk of generalizing customer needs and preferences. When this occurs:

• Customization might take a back seat.
• Communication may become one-sided, focusing more on sales rather than understanding customer feedback.
• Losing sight of customer satisfaction in the pursuit of achieving higher sales numbers.

Increasing business doesn’t automatically fine-tune a customer-focused approach; instead, it might dilute the attention given to individual needs.

Shifting Priorities

As a business expands, priorities might shift. This can lead to:

• Focus moving towards meeting sales targets rather than ensuring customer satisfaction.
• Less time dedicated to training staff on customer engagement and satisfaction.
• Cutting corners in service delivery to meet the demands of a growing customer base.

The idea that business growth enhances customer-focus fails to acknowledge the shifting priorities that come with expansion.

Limited Resources

Growing businesses face the challenge of stretched resources. These limitations can hinder customer-focus, through ways such as:

• Insufficient staff to maintain a high level of customer service.
• Lack of funds to invest in customer relationship management systems.
• Insufficient time to address individual customer concerns promptly.

The struggle with resources can push customer-focus to the sideline as businesses attempt to manage growth.

Lack of Personal Connection

Growing businesses might lose the personal touch that often characterizes small enterprises. The risks include:

• Losing the ability to remember regular customers and their preferences.
• Less time for personalized interactions as customer numbers grow.
• Automated systems replacing human interaction, making service less personal.

The loss of a personal connection can deter a business from being as customer-focused as it once was.

Misinterpreting Data

An increase in customer interactions leads to more data. However, this data is useless unless properly analyzed and acted upon. The challenges include:

• Misinterpreting customer feedback due to a large amount of data.
• Overlooking valuable customer insights due to a lack of analysis.
• Acting on incorrect interpretations, leading to unsatisfied customers.

More business and data can create a fog around actual customer desires if not handled correctly.

Fostering Real Customer-Focus

The idea that customer-focus grows naturally with business expansion is a myth. To maintain and enhance customer-focus, deliberate steps must be taken:

• Investing in training to ensure that staff values customer satisfaction.
• Implementing robust systems to analyze customer data accurately.
• Ensuring that expansion plans include strategies for maintaining a high level of customer service.

It's about fostering a culture that values customer satisfaction and feedback, irrespective of the size of the business or the number of customer interactions.

2. Accountability

The word accountability can have some negative connotations, especially for those who aren’t fans of confrontation. The best way to implement this value, then, is in a positive manner without fear. Instead of viewing accountability as something that means you’ll get in trouble for various reasons, make it about defining what needs to be done, who is responsible, and what tools are available when things don’t go to plan.

Failure or mistakes are part of doing business. It is how you acknowledge and move on from them that counts. If you set up the right processes, this can be done productively. You need to define expectations, get everyone on board, measure the progress you make, and make changes along the way according to feedback, as well as when a project is complete.

This should apply to both individuals and the company as a whole. Why not set the tone by publishing a mission statement, and following up with an annual report. The company should state what it aims to do, and needs to share this with everyone involved. 

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Misplaced Confidence in Mission Statements

Publishing a mission statement is often considered a step towards fostering accountability. However, just having a mission statement in place does not:

• Guarantee understanding or acceptance among team members.
• Translate to responsible actions or decision-making.
• Reflect the actual practices or culture of the business.

A mission statement is merely words unless accompanied by actions reflecting those words.

Overestimating the Power of Words

Having a mission statement and hoping it will instill accountability is overestimating the power of words. The issues include:

• Lack of follow-through on the principles laid out in the statement.
• Employees may see the mission statement as hollow words if not backed by actions.
• Customers may lose trust if they don’t see the mission statement reflected in business practices.

Words are weak without actions to back them up.

Lack of Practical Measures

A mission statement is theoretical, often lacking practical measures for accountability. The disconnect could result in:

• Unclear expectations for employees.
• Lack of tangible goals tied to the mission statement.
• Absence of a system to measure and enforce accountability.

Without clear, practical steps, accountability remains a vague concept rather than a daily practice.

Ignoring The Need for Enforcement

A mission statement cannot enforce accountability on its own. Ignoring enforcement leads to:

• No consequences for actions that go against the mission statement.
• Employees not taking the mission statement seriously.
• A culture of neglect and lack of responsibility.

Enforcement is crucial for instilling a culture of accountability.

Misinterpretation and Lack of Clarity

Mission statements can be vague or open to interpretation, causing:

• Different interpretations among team members and stakeholders.
• Lack of a shared vision or understanding of accountability.
• Confusion regarding what is expected from each person.

Clarity is essential to avoid misinterpretation and to foster a shared sense of responsibility.

Passive Approach to Accountability

Relying on a mission statement for accountability is a passive approach. This can cause:

• A wait-and-see attitude instead of active engagement.
• Lack of proactive measures to ensure accountability.
• A culture of passivity and lack of ownership.

Accountability requires an active, ongoing effort, not a one-time statement.

Building Real Accountability

Moving beyond the passive approach of publishing a mission statement requires:

• Regular communication about expectations and responsibilities.
• Establishing clear, measurable goals for teams and individuals.
• Implementing a system for monitoring performance and holding people accountable.
• Encouraging an open culture where feedback is valued and acted upon.
• Providing the necessary resources and support for employees to meet expectations.

Taking these active steps will move a business towards a culture of real accountability, where actions match words, and the mission statement becomes a lived reality rather than a forgotten plaque on the wall.

3. Innovation

The first place you can implement innovation is in your hiring process. You can spot talent from a resume, but don’t leave it to chance. Adapt your interview process to allow you the opportunity to test an applicant’s approach to innovation. This could be through questions that test their creativity and on the spot thinking, or through a task. It could be problem-solving or inventing something.

You and your small team might all be innovative people, but that isn’t a guarantee that you are implementing this value. The environment, the culture, and the time you dedicate to this value will impact how it affects your business. Whether it’s coming together as a team or allowing individuals time to think and then follow up on these thought processes, you can give innovation the space to thrive.

Even an exciting start-up can feel like a regular office job some days. If you want innovation to be palpable in your company, then you might need to shake things up every now and then. Get a change of scene, let others lead a meeting, or initiate a new project that requires a different approach.

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Misunderstanding Innovation

The notion of shaking things up to foster innovation is a common belief. However, mere surface changes like a new scene or different meeting leaders might not:

• Lead to genuine innovative ideas.
• Foster a culture of continuous creativity.
• Address the root causes hindering innovation.

Change for the sake of change may not yield the desired innovative results.

Failing to Address Core Issues

Hoping for innovation by initiating new projects or changing meeting dynamics might overlook core issues such as:

• Lack of resources or tools needed for innovative work.
• Absence of a supportive environment where ideas can be shared freely.
• Fear of failure that stifles creative thinking and risk-taking.

Ignoring these fundamental issues can hamper any attempt at fostering innovation.

Superficial Changes, Temporary Sparks

Temporary changes might create a brief spark of enthusiasm but tend to lack long-term impact. Issues include:

• Initial excitement waning after a short period.
• Temporary changes not being sustained long enough to nurture innovation.
• Lack of follow-through turning ‘innovative’ projects into one-off attempts.

The fleeting nature of such sparks does not provide the solid ground needed for continuous innovation.

Overlooking The Value of Consistency

In the haste to ‘shake things up’, the value of consistency might be overlooked. Consistency in:

• Providing the right tools and resources.
• Encouraging open communication.
• Rewarding creative thinking and problem-solving.

Consistency sets a stable foundation upon which innovation can thrive over time.

Ignoring Employee Input

Often, changes are imposed from the top down without seeking employee input, which might lead to:

• Resistance to new initiatives.
• Lack of understanding or buy-in.
• Missed opportunities to gather innovative ideas from all levels of the organization.

Employees' insights could be a valuable resource for fostering a culture of innovation.

Believing in Quick Fixes

The belief in quick fixes for fostering innovation disregards the effort and time required to cultivate a truly innovative environment. Problems include:

• Overlooking the need for long-term strategies.
• Ignoring the importance of developing skills and providing training.
• Lack of patience in nurturing a culture of creativity and experimentation.

Quick fixes usually fail to address the systemic changes needed for sustainable innovation.

Creating a Sustainable Innovation Culture

Instead of opting for surface-level changes, fostering a genuine culture of innovation requires:

• A supportive environment where employees feel safe to share ideas and take risks.
• Providing ongoing training and access to the necessary tools and resources.
• Encouragement of open communication and feedback.
• Long-term strategies that prioritize and reward innovative thinking.
• Seeking input from employees and involving them in decision-making processes.

Adopting a more thorough and inclusive approach is more likely to create a culture where innovation flourishes. By addressing core issues and valuing consistency and employee input, companies are more likely to see sustainable innovation rather than fleeting sparks of creativity.

4. Sustainable and Socially Conscious

CSR, Corporate Social Responsibility, sounds like something associated with a huge, multinational conglomerate, which is not the direction you want to head. There is a more personal way to be socially conscious and sustainable and actually mean it.

It all comes down to knowing what you are willing to do and how that will balance with your other business aims. Being upfront with yourself is key; socially conscious activities that seriously damage your profits aren’t going to work.

You’ll need a strategy that guarantees your business success so you can continue to give back to the community and take care of your small corner of the world.

Don’t make the mistake of thinking this is something you can leave until you’re making millions; start as you mean to go on. You don’t have to install solar panels on the roof on day one, but perhaps you could implement a plan to have this achieved by your fourth quarter.

A great way to get started is with volunteer time off for all staff. They might already have ideas about with whom they would like to work but make it straightforward by establishing partnerships with not-for-profit organizations that would benefit from your help and expertise.

Do You Really Think It's Going To Work?

Misleading Assurance of Strategy

The belief that a solid strategy guarantees sustainable or socially conscious success is often misleading. Here's why:

• No single strategy fits all scenarios.
• The changing market conditions can render a strategy obsolete.
• Social issues are complex and may require a multi-faceted approach.

Merely having a strategy doesn't ensure success in being socially conscious.

Overlooking Organic Engagement

Relying solely on a strategy might overlook the importance of organic engagement with the community. This oversight may result in:

• Lack of understanding of real community needs.
• Insincere connections that don’t foster long-term relationships.
• Missed opportunities for meaningful impact.

Engagement with the community should be genuine, not just a strategic move.

Ignoring the Dynamic Nature of Social Issues

Social issues are dynamic and constantly evolving. A rigid strategy might lead to:

• Inability to adapt to new challenges or opportunities.
• Misalignment with the current needs and priorities of the community.
• Relevance loss over time as societal needs change.

A static strategy can become outdated in the face of evolving social issues.

Underestimating Resource Commitment

Effective socially conscious business practices often require a substantial commitment of resources. Underestimation may cause:

• Inadequate resource allocation hindering the desired impact.
• Failure to sustain socially conscious initiatives over time.
• Disappointment among stakeholders due to unmet expectations.

An honest assessment of required resources is crucial for the longevity of socially conscious initiatives.

Failure to Foster a Supportive Culture

Without a supportive culture, even a well-thought-out strategy may falter. Challenges include:

• Lack of buy-in from team members.
• Inadequate understanding of the social goals among stakeholders.
• Missing a sense of collective purpose.

A culture that supports social consciousness is as important as the strategy itself.

Neglecting Continuous Learning

Assuming a set strategy will suffice may lead to a neglect of continuous learning. This neglect could:

• Stunt the growth of social initiatives.
• Ignore valuable feedback from the community and other stakeholders.
• Overlook new ideas that could enhance social impact.

Continuous learning and adaptation are central to growing and improving social initiatives.

Building a Flexible, Responsive Approach

Moving beyond a fixed strategy towards a more flexible, responsive approach can better serve social goals. This involves:

• Developing a learning-oriented approach that values feedback and continuous improvement.
• Building authentic relationships with the community and other stakeholders.
• Allocating adequate resources and being prepared to adjust as needed.
• Fostering a culture that values social consciousness.
• Being open to revising the strategy in response to changing conditions and new insights.

A more holistic, responsive approach, grounded in real-world engagement and continuous learning, is more likely to contribute to sustainable, socially conscious business practices. Through an open, adaptable stance, businesses can create meaningful social impact while also nurturing their connection with the community.

Beyond the Surface: Examining the Limitations of Implementing Business Values

Acknowledging the Surface-Level Changes

Learning and implementing business values are starting steps to refining your company's operations. However, merely identifying these principles and bringing them into daily routines won't solve deeper issues. Some steps might include:

• Creating a catchy slogan that reflects your values.
• Sharing value-based posts on social media.
• Highlighting values in meetings and company communications.

Yet, these steps only scratch the surface and don't address underlying challenges.

Overlooking the Real Problems

Focusing solely on business values could cause you to overlook real problems. Some of these might be:

• Lagging customer service response times.
• Outdated technology causing inefficiencies.
• Lack of communication among team members.
• Inadequate training or resources for employees.

Addressing Practical Solutions

Not all problems can be solved by referring back to your business values. Here are some examples:

• A strong value in innovation won’t magically provide the funds for updated software.
• Valuing customer satisfaction won’t instantly improve a faulty product.
• An emphasis on teamwork doesn’t ensure good communication practices are in place.

It's clear that actions and strategies beyond merely adhering to values are necessary.

Ignoring Metrics and Feedback

Monitoring performance metrics and soliciting feedback are crucial for any business aiming to improve. These actions go beyond just implementing business values. They provide tangible data and insights that can drive real improvements. Some ways to utilize metrics and feedback include:

• Regularly reviewing customer feedback to identify areas for improvement.
• Analyzing sales and performance metrics to spot trends and issues.
• Hosting monthly review meetings to discuss team performance and set new goals.

Dismissing Continuous Learning

The business landscape is continuously evolving, necessitating a culture of ongoing learning and adaptation. Sticking strictly to established business values without adapting to new knowledge can hinder progress. Here are some suggestions:

• Encourage employees to pursue relevant certifications or training.
• Stay updated on industry trends and best practices.
• Foster a culture of openness where employees feel comfortable sharing ideas and feedback.

Shifting Your Focus

Business values are indeed important, but they should not be the sole focus. Shifting your attention to solving real problems, utilizing metrics, and promoting continuous learning can foster a more well-rounded approach to business improvement. By diversifying your focus, you are more likely to address the core issues hindering your business success and propel your company forward in a competitive market.

The Bottom Line

Defining your company values has many advantages. It can keep you on track to fulfill your dreams without compromising your principles. Your values are there to help you make decisions and head in the right direction. The best way to keep your values at the heart of everything you do is to implement them from day one, whether it is a strategy, a clause in a contract, a charitable organization, or an annual report.