Do you have formal or informal values for your company that you follow and base your decisions on them?
Do you have something that leads you every time when you must to decide?
Do you have something that serves you as a referring point on your path to the success?
If your answers on questions are yes, then you have established your business value.
Business value is something that can make your entrepreneurial life much easier. They define what you need to do and what you need to escape. They define what is acceptable and what is not acceptable for you and your company. They tell you when you must to stop and when you must to accelerate.
You need business values. They will help you to manage your company on the path to the success that’s not a straight line.
Your business value needs to answer on one simple, but yet most important question: What is something that your company value most?
Think about these questions to define your business values:
- What is something that your company wants from each employee?
- What are the types of habits your business values the most?
- What are the types of relationships your company values the most?
- What is the community that your business values the most?
- What projects your company value the most?
- What are the competencies that your company needs the most?
- What responsibilities are most important for your company?
- What decision is most important for your company?
- What is the success for you?
- What are you thinking about the respect for the individuals?
- What’s about tolerance of failure? Do you accept it and why?
- What is your tolerance for risk taking?
- Are you and your company open for ideas from outside your company?
This is not the final list of questions. You can add additional as much as possible that are related to you, your company, your industry or your market.
I hope that you will have your clear values after this exercise. Feel free to share some of them in the comment section below.