There are 8 factors that define a company and together they form core values. While not tangible, core values have a large impact on a company’s identity. Core values are often what differentiates you from companies with similar values.
BE THE CHANGE YOU WANT TO SEE IN THE WORLD
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While values do not change what your company does or the products or services you offer, they do tell your customers and prospects a great deal about who you are and what you’re about. While not exhaustive, I have put together a list of key values that you must adopt if you want to stand out from the crowd. The values at your business determine a great deal about who you are.
Core values are what you base your companies vision statement, mission statement and strategy statement on. It is important that you get these right.
8 Core Values To Make Your Business Stand Out
- Commitment to customers
A business that is committed to clients is all about customer service and client service. They focus on keeping their clients happy and preserving their relationships. Having positive relationships with your clients are critical to organic growth and customer retention.
- Commitment to employees
A commitment to employees is about making a great workplace and the belief that the best workplace creates the best work. Naturally, if you look after your employees then they will, in turn, look after your clients.
- Ethics and honesty
Honesty and ethics often manifest in an agency that focuses on pushing clients to do what is right rather than what they want. They also highly value ethics in all business practices.
- Profitability and growth
A business that focuses on profitability makes decisions that will maximize efficiency, margins and growing new business. This mindset is passed onto clients.
- Social responsibility
A business that focuses on social responsibility chooses people and projects that will allow them to make a difference. They also focus on the way in which they operate their company to be socially responsible.
- Innovation and creativity
Agencies that focus on innovation put research and development, prototyping and new ideas at the forefront. Leading innovation through creativity is a great way of showing your prospects that you are committed to your cause.
An agency with adaptability at its core is highly agile and flexible to change at many levels. The company will try new ideas, services, and clients regularly.
- Excellence and quality
Any business with excellence at their core focus on the quality of their projects above all else. This point alone will put you above many competitors.
When you’re starting a new business or evolving an existing enterprise it is important to really think about your core values. Taking these eight points and defining who you are, what you stand for and how your business is going to make a difference to the success of your business.
If you’re struggling to get your ideas down on paper then consider starting with a working example. Looking at the successful competition is a great place to start. Take the parts that you like and that work then use them as your foundations to improve on. My recommendation would be to review businesses in your sector that offer similar services. A general observation is that the bigger the company, the better their values.
In uncertain times, when it has never been harder to start a business, making sure you stand out from the crowd can mean the difference between failure and success.