Running a values-driven business is a business concept that affects all brands and businesses, whether they are aware of it or not. Consider the companies that you interact with on a weekly basis: your grocery store, a new car dealer, an independent clothing store or the local big box store.What are their values? Do they stand for affordability, quality and service or client satisfaction? Or perhaps they just care about making the sale?
As an entrepreneur, have you considered that you are running a values-driven business? What would your clients say if asked what you stand for?
An example of values-driven thinking
Some consultants operate values-driven businesses unconsciously. Perhaps you are a bootstrapping entrepreneur who recognizes the value of word of mouth referrals. You are committed to client satisfaction and may even go above and beyond to keep a new client happy. Without necessarily sitting down and scratching out the details of your business values, you’re running a values-driven business without even thinking about it.
Conversely, another entrepreneur may be solely budget-driven. He may leave clients in the lurch and leave a trail of disappointed customers in his wake. He is running a values-driven business too, based strictly on volume and sales. The results could be devastating to his business.
What are your business values?
As with most strategies in the business world, it’s best to start with a plan. Don’t just fall into your values. Consider which values are important to you, and build your business around them. Here are a few ideas to help you consider your business values:
- Commitment to customer trust
- Ethical business practices
- Green business practices
- Customer satisfaction
- Continuous improvement
- Relationship building
What do you want your business to stand for?
- Knowing your values
- Aligning your work with your values
- 8 reasons consulting rules
- Setting consulting fee rates