Business Sense: Sound Values

by Lauren Schneidewind on February 1, 2016

The Declaration of Independence states with conviction, “that all Men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty, and the pursuit of Happiness.”

These words have shaped the course of American history. They have prevailed in the face of injustice by providing an unwavering platform for freedom. The longevity of these “self-evident truths” proves the effectiveness of sound, positive values.

If establishing and abiding by core values have had such a positive impact on something as large as a country, imagine how much more the same strategy would benefit your business.

Face the facts: your business needs a set of values. These core beliefs act as a guiding light for every person under the umbrella—from the owner to the receptionist. Effective and well-communicated values ensure everyone is on the same page, wearing the same jersey, and working toward the same goal.

In addition to unifying your team, company values attract customers. It is no secret customers have numerous companies vying for their business. Aside from providing the best product, you need to present the best image. Cultivate your values, spread the word, and back up your words with action. Go a step beyond your mission statement and let customers see how you embody your core beliefs. Become a company they want to be associated with one step at a time.

Aside from unifying your business and attracting customers, values increase employee retention. Great benefits packages, healthy salaries, and academic incentives buy an employee’s loyalty. However, creating a positive culture at work also earns an employee’s loyalty. The latter is less likely to be affected by long hours, stiff challenges, and other difficulties facing a small business or startup. Give your employees a company they can be proud to be a part of by establishing a healthy, happy culture.

Now it is time to determine which values will work best for your company. The most popular ones among businesses include: perseverance, open communication, integrity, accountability, community, generosity, fairness, innovation, and conduct. Determine what you want to accomplish, what you want your company’s public reputation to be, and what kind of culture you want to create. For example, if you want to be completely transparent, then consider integrity and accountability as two of your values.

Remember, values are only effective when they are actually utilized at every level of the company. So in addition to finding the right core beliefs for your business, limit the number. Choosing more than six principles will prove difficult for your employees to remember. Plus, it is impossible to be the best at everything—you run the risk of your values being a mile long and an inch deep.

At LD Studios we understand the necessity of values, which is why we have decided to stand upon integrity, respect, efficiency, and pay it forward. Our customers know we will not sell them something we do not believe in ourselves. We promise to respect our clients’ wishes regarding all aspects of the project. Ruby on Rails thrives on efficiency, which is why we have made it our area of expertise. Finally, LD Studios donates over 10 percent of its proceeds to reputable charities.

We know where we stand. What are your business' values?

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