4. Core Values Drive Behavior

The next step is to define values that reflect company beliefs. Core values ultimately drive behavior, so when values are clear and defined, it conveys what is expected of employees and it helps them make decisions. Speed of decision making results in an increased ability to execute because time is not wasted figuring out what is important or a priority. Values also drive what kind of people you hire, suppliers you work with, and even the type of customers with whom you do business. Core values are a fundamentally important driver of business success with many benefits.

Make It Personal

Defining qualities like values requires that you dig deep to understand what drives you and what matters most, regardless of the job you have or company you create. If you reflect on a time you have ever compromised your values, you have likely paid a high personal price and perhaps regretted an action or decision. Values conflicts are often at the root of organizational performance (just look at the news headlines) as well as the cause of relationship conflicts.

Luke Wyckoff, President of Wyckoff Consulting, founded his company by following his gut and uncompromising core values. When he worked for a large national recruiting firm, he experienced a series of events that were red flags to his personal sense of integrity. Continuously frustrated, he thought about the kind of executive recruiting firm that he would like to start: a firm focused on integrity, trust, and honesty.

One day, as he drove to a client meeting to make a pitch to the board of directors, he had a crazy idea. When he was greeted in the lobby by the executive who was recommending his services, he was asked, “Where are your presentation materials?” Luke said,” They’re in the car. If you trust me, just go with it.” Luke walked into the board meeting and spontaneously presented his own company, making a very passionate speech about the principles and values of his firm. The board liked what his company stood for, and he walked out with an immediate assignment and a $20,000 retainer. This gave him the seed money and the courage to leave a company that had different values from his own to start his own firm. Lesson learned: Follow your gut and don’t compromise your values.