{"id":11234,"date":"2024-02-19T15:13:16","date_gmt":"2024-02-19T02:13:16","guid":{"rendered":"https:\/\/ontrackbookkeeping.co.nz\/?p=11234"},"modified":"2024-03-18T13:43:36","modified_gmt":"2024-03-18T00:43:36","slug":"the-power-of-core-values-in-business","status":"publish","type":"post","link":"https:\/\/ontrackbookkeeping.co.nz\/the-power-of-core-values-in-business\/","title":{"rendered":"The Power of Core Values in Business"},"content":{"rendered":"

As a business owner, you\u2019re the architect of your business\u2019s vision and culture. But in the hustle to develop products, chase sales, and keep the lights on, some of the foundation often gets lost in the mix. Core values\u2014those guiding principles that shape your company\u2019s identity\u2014are more than just words on a wall or a statement in a handbook.<\/span><\/p>\n

These aren\u2019t just buzzwords to sprinkle throughout your website \u2013 your business\u2019s core values can act as the compass for your business, bringing much about your business into sharper focus.<\/span><\/p>\n

Let\u2019s dive into why core values are a critical part of your entrepreneurial journey.<\/span><\/p>\n

1. Core values establish company culture<\/b><\/h3>\n

A company without defined core values is like a boat without a rudder\u2014adrift without direction. Sure, you\u2019re moving, but where?<\/span><\/p>\n

Core values foster a sense of identity and purpose<\/b><\/h4>\n

Your core values anchor your company\u2019s culture. They define your company\u2019s personality. When employees understand and live these values, it unifies them.<\/span><\/p>\n

Guide decision-making and conduct<\/b><\/h4>\n

Values should be your company\u2019s moral compass, setting the course for how you want your team to operate in every situation. From difficult decisions to everyday choices, they help your team stay true to the company\u2019s ethos.<\/span><\/p>\n

This has been key to the success of our company culture here at Ontrack Bookkeeping – long standing, supportive, interactive team members taking ownership of their roles, who live and breath our core values every day.\u00a0<\/span><\/p>\n

2. Attract and retain talent<\/b><\/h3>\n

In a competitive job market, your company\u2019s values can attract like-minded individuals.<\/span><\/p>\n

Appeal to employees who align with the values<\/b><\/h4>\n

Millennials, and now Gen Z, not only seek employment but also meaningful work. They are drawn to companies whose values match their own. When you promote your business\u2019s core values, you\u2019ll find it easier to recruit those who are best-suited for your team.<\/span><\/p>\n

Increase employee engagement and loyalty<\/b><\/h4>\n

Employees who connect with your values are more likely to be engaged in their work and committed to the long-term success of the company. This engagement translates to higher levels of staff retention. Engaged employees are much less likely to look for a job at other companies.<\/span><\/p>\n

3. The currency of trust: build trust and reputation<\/b><\/h3>\n

Consumers want to buy from companies they believe in.<\/span><\/p>\n

Demonstrate integrity and authenticity<\/b><\/h4>\n

When your core values drive your business practices, you stand out as a company that\u2019s not just about profits but about people and principles. This authenticity in business operations builds a strong foundation of trust with your customers.<\/span><\/p>\n

In a world of cynicism, displaying your core values shows that you mean what you say.<\/span><\/p>\n

Enhance customer trust and loyalty<\/b><\/h4>\n

A company that walks the talk when it comes to values will create loyal customers who not only return for repeat business but also refer others to you.<\/span><\/p>\n

4. Provide a framework for decision-making<\/b><\/h3>\n

One of the trickiest parts of leading a business is knowing which opportunities to chase and which to pass up.<\/span><\/p>\n

Help plan\u00a0 actions and initiatives<\/b><\/h4>\n

Clear core values make it easier to evaluate opportunities and align them with your company\u2019s long-term strategies.<\/span><\/p>\n

Guide strategic planning and goal setting<\/b><\/h4>\n

Strategic plans also benefit from a values-driven approach. Your values help you set more meaningful, impactful, and achievable goals that resonate with your business mission.<\/span><\/p>\n

5. Drive business success<\/b><\/h3>\n

Ultimately, businesses are run by people. And it is people, working together under common values, that power growth and success.<\/span><\/p>\n

Create a cohesive and aligned team<\/b><\/h4>\n

When everyone\u2019s personal values align with the company\u2019s values, you create a culture of respect, understanding, and support.<\/span><\/p>\n

Set the foundation for long-term growth and sustainability<\/b><\/h4>\n

A business founded on strong core values can withstand market challenges and changes in leadership. It\u2019s the foundation for building a resilient, adaptable, and sustainable business.<\/span><\/p>\n

In summary..<\/b><\/h3>\n

Integrity is the overarching essence of core values.\u00a0 Core values are not a mere piece of internal branding, nor a dusty document to be rolled out in times of public relations crises. They are the heart of your business.\u00a0 They should not consist of values like ‘honesty’ or ‘integrity’, as these should be an absolute given, not something that makes you stand out from your competitors.\u00a0<\/span><\/p>\n

In crafting core values and integrating them into your business strategy, you\u2019re not just creating a checklist of moral standards, you\u2019re shaping your company\u2014its culture, its impact on the world, and its legacy.\u00a0 This has been proven time and time again.\u00a0<\/span><\/p>\n

In every action, every decision, and every interaction, your values should be the guide that keeps your business on course.<\/span><\/p>\n

So, if you haven\u2019t already, perhaps now is the perfect time to sit down with your team and chart out the values that will define your business.\u00a0 If you are not sure how, come and talk to me, I would love to help.\u00a0 \u00a0@Di Crawford-Errington<\/a><\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

As a business owner, you\u2019re the architect of your business\u2019s vision and culture. But in the hustle to develop products, chase sales, and keep the lights on, some of the foundation often gets lost in the mix. Core values\u2014those guiding principles that shape your company\u2019s identity\u2014are more than just words on a wall or a … Continued<\/a><\/p>\n","protected":false},"author":11,"featured_media":11292,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[221,220,188],"tags":[242,235],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"\nThe Power of Core Values in Business - Ontrack Bookkeeping Ltd<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ontrackbookkeeping.co.nz\/the-power-of-core-values-in-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Power of Core Values in Business - Ontrack Bookkeeping Ltd\" \/>\n<meta property=\"og:description\" content=\"As a business owner, you\u2019re the architect of your business\u2019s vision and culture. 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