The Importance of Values
Any of you who know me will probably have heard me banging on about needing to define your business values. So why are they so important?
Well first, maybe we should talk about what your values are. Your values define HOW and WHY you run your business, in your way, and the experience that you want to deliver to your customers. They define what you stand for as a business.
Your values will define how you grow and develop your business, once you're clear on what you really stand for as a business that will naturally impact how you look to grow your business and how you communicate with your prospective clients. For example a restaurant whose values are "a luxurious dining experience, innovative dishes and top quality ingredients" will be marketing very differently and attracting very different clients to another restaurant with the values "making dining out a fun, family experience, to make dining out accessible and affordable and to offer quality homemade dishes made with local produce"
Your values are essentially your brand, and getting clear on your values will help you to define and communicate your brand in a way that resonates for you and for your ideal clients. Often when we find we've attracted a "difficult" client (you know the ones - they take up LOADS of your time in customer service, and they just don't quite "get" how YOU do business) it's because there's actually a bit of a values mis-match going on. It may be that your top value is quality but theirs is speed, or vice-versa. If you're not communicating your values clearly in your marketing, then chances are you will end up attracting the "wrong" clients for your business. Not only will that make your working life less enjoyable, it'll also make is much less profitable as you waste time in customer communication that wouldn't be needed with an "ideal" client. Not to mention the fact that your "ideal" clients (or your tribe as we sometimes like to call them) will happily pay more for your service because they resonate with your values, meaning you can charge what you're worth and deliver massive value to your clients (unless your values are around budget of course!)
Getting clear on your values isn't just important for your clients, it's also REALLY important when you start to look for staff. If your values define how you run your business, then it's essential that your staff understand and share these values. Communicating your company values in job adverts and interviews can help weed out those great-on-paper candidates who would actually be a nightmare for your company, and equally will naturally attract candidates who will be a great fit for your team. Once you've got a team in place, being clear on your values, also gives you clear standards against which to measure their performance and make sure that you're all acting in-line with the company vision and brand to provide a consistent customer experience.
So, if you haven't already, how do you define your values? Well, all of us intrinsically have values but few of us take the time to get clear on them and get them down on paper, let alone communicate them to our clients, our staff and our partners. So, how do you get clear on yours? Well, a great starting place is to think about 2-3 people in/involved with your business that you feel, if you could replicate, would lead your business to success. Make a list of ALL of the characteristics that made you choose them, and then whittle that list down by prioritising what's most important to you and combining any similar terms.
Ideally you'll end up with a list of 3-7 values that will help you feel clearer about driving your business forward, defining your brand and attracting more of your ideal clients.
If you'd like any help getting clear on your values, and if you're looking to grow your business, then book in a call with me here.