Before sales. Before profit.

Heck, before you put on your pants.

There’s one thing that your entire business revolves around, and you may not even think about it.

Your values.

Your values are your guide in every thought and action you take. As a small business owner, it’s easy to get caught up in the daily tasks of running it. However, having a set of core values can help guide your decision-making process and ensure that your business is operating in a way that aligns with your beliefs and principles, and what you want your business to stand for. Here are a few reasons why creating and applying core values is important:

1. Provides a framework for decision-making: When faced with tough decisions, having a core set of values can help you in making the right choice for your business, clients, and employees.
2. Attract and retain customers: Customers are more likely to do business with companies that share their values. By having a clearly defined set of core values, you can attract customers who hold a similar vision.
3. Builds strong company culture: Core values help define the culture of your business and provide a common language and purpose for your employees. This can help create a more cohesive and creative team.

Years ago when I was writing Profit First, I began thinking about what my immutable laws – or core values, are. I started by outlining them specifically for the purpose of guiding the implementation of the Profit First system. Quickly, I realized that we as a company could create our own immutable laws both personally and for our business – laws, and values that the whole team could get behind. Here they are: 

1. Purpose – Above all, we guide entrepreneurs to experience financial, emotional, and personal peace and security.
2. Simplicity – Colin Powell said it best, “Great leaders are almost always great simplifiers, who can cut through argument, debate, and doubt to offer a solution everybody can understand.” I like to apply this and make all communication, service, you name it, as friction-free as possible to create an easy method for people to understand and apply right away.
3. Embrace the whole human: We embrace the fullness of everyone by understanding each other personally and respecting your uniqueness and differences. We strive to be curious before making assumptions and we encourage the dreams of everyone we encounter.
4. Kind communication: The sharp-tongued days of The Wolf of Wall Street are over. Millennials and Gen Z are taking a stand and putting their wellness before business. It highlights the need for a mindful approach to business beginning with kind communication. It’s a good place to start in creating a sustainable atmosphere for your team and customers alike. 
5. Embrace change: Change can be uncomfortable, but it’s necessary to grow. Especially now with the amount of new technology and economic uncertainty, we have to remember that we don’t necessarily have the option to have control at all times. Embrace the change – change is opportunity.

What are your core values? Drop them in the comments below. I can’t wait to see them!

Wishing you health and wealth always.

-Mike

• Entrepreneurs need to stick together! I have created courses, workshops, and mastermind groups to leverage the knowledge of entrepreneurs and share information to help you make the most impact in your small business. Check them out here.