When you launch your business, you are introducing not only your product or service but also your authentic core values to the world. These values, genuine and unique to your business’s soul, are shared with your customers. Some may only want to buy products from businesses that share their beliefs and values. According to the KPMG 2022 “Value and values UK Customer Experience Excellence report, 66% of customers say they will make more value-based purchases, and employees, investors, and stakeholders plan to do the same. More importantly, these authentic core values communicate what your business represents without having to utter a word.
While some businesses may focus on a local presence, others may have a global reach. The more your business expands, the more attention it attracts to its reputation and values, not just its product. Once a company achieves a certain level of visibility, the brand image and core values become just as important, if not more in some instances, than the product. Although the product may have played a significant role in enabling the business to achieve a high level of scalability, the brand image and core values have ultimately allowed the company to maintain its visibility and success. Achieving global success is an important goal, but reaching it with a brand reputation that one can be proud of is an accomplishment in itself.
So, how does a business get to the heart of its core values? It’s not as easy as it sounds. Identifying your business’s core values is the process of doing a deep dive into the feelings your brand evokes in your customers, clients, and team members. This process can feel like you’re going to therapy; parts of it are a therapeutic experience. Still, it’s an essential part of business that many businesses need to prioritize more. Getting to the core of your business’s beliefs is akin to getting to the bottom line of any financial discrepancies. That’s because core values are intended to function as the fundamental beliefs and principles guiding your business. These core beliefs drive your business decisions and set the tone for your culture and how your business engages with your clients and teams. Here are three ways to get to the core of your core values to recover, restore, and reconnect with the heart of your business.
Evaluate your business
Business owners and leaders can benefit from evaluating their business operations and values. This evaluation can help them identify areas where they need to improve. To do this, it is essential to take an honest and open-minded approach and look at the business from five key perspectives: employee, customer, client, stakeholder, and community members. To get a better understanding of their brand image and how people perceive them, business owners and leaders can step into their customers’ shoes and gain valuable insights. By experiencing the business from the viewpoint of core audiences, they can make informed decisions that will help them improve their brand image and customer connections. This process can reveal whether a business is on the right track and help identify areas for improvement.
Consider your values
Running a business can be challenging, but taking the time to assess your values is invaluable. Examining what you do, why you do it, and what you stand for can provide benefits that cannot be bought with money. Clear and concise values direct your business’s actions and behavior, ensuring that all decisions and actions align with your vision and mission. Established values define your business and help ensure it operates according to them. By intentionally looking at your values, you can strengthen your business in numerous ways.
Revisit the days before your business launched
Starting a business can be an emotional journey. New entrepreneurs experience feelings of uncertainty and doubt, wondering whether they will succeed, when to launch, and how to find their target audience when they are first starting a business. Worrying about how your product or service will be received and how to navigate your industry is part of business ownership. Over time, as your business grows and becomes more established, you may lose touch with the passion and excitement, concerns, and considerations you had at the beginning. However, it’s important to reflect on the energy and feelings you once had to remind yourself of your why when you started your business in the first place. If you find yourself struggling or disconnected from your original motivation, revisiting the early stages can help you reconnect with your core values.
At Credico, we firmly believe that it is crucial to prioritize both your bottom line and brand image. Climbing to the top of the success ladder too quickly can lead to a realization that your brand is not respected or trusted. For a business to thrive, it must have a brand that is respected and one that the business itself respects and is proud of.