Build In Value Blog

People & Core Values Form the Heart & Soul of a Company.

 

by Rand Manasse

If Core values shape the business and become its soul then people working in the company must be the heart of the company. 

Whole Foods Market Core Values

 

Core values are part of the people in the company. Often, the founders of the company will have their own core values and those will become part of the company. If the company hires based on those values the company will live on and become great with those core values remaining vital to the success of the company.


 

Forming Your Team Around Core Values

 

Zappos has done a good job of hiring people that are aligned with the core values and not selling shoes online. When people are aligned with the core values they are more likely to stay with the company through times of change. The business is more likely to endure through change because the core values never change.

 

Another example of a company that has changed yet remained constant in core values is 3M. The company started as a mining venture over 100 years ago. The mining industry has obviously changed since then and in that time 3M has changed as well. When the mining industry went into decline, 3M needed to change its direction and industry in order to remain relevant.

 

3M focused on its core values of finding solutions to problems through creative solutions. With those core values in mind the company was able to successfully branch out into new industries. People would join 3M based on the creative nature and innovative spirit. As the industry changed the company remained true to its core values and has found lasting success.

 

Focusing the team around core values instead of the industry you currently work in is vital to your lasting success. When people join based on vague industries they are more likely to leave when things change or even worse they are likely to lose focus when change occurs.

 

Form your team based on core values and your company will be likely to succeed with great team members.

 

Conclusion

 

The next step for your company is to figure out your own core values. Look at yourself and the people in your company.

 

What defines you as people and as a company?

 

Here is one final example to help you get started.

 

Whole Foods entered the competitive food industry. The company is defined by the core value of healthy eating. This core value is what attracts top talent. People that are interested in healthy eating are drawn to the company.

 

Now, the idea of healthy eating doesn’t necessarily apply only to selling groceries. Whole Foods could change course in the future and that is likely to be the case.

 

Core values start with the leadership of the company. Everyone needs to figure out what they are passionate about and what the company can succeed at. From there you will find your core values and once you have an idea you can begin building your team and your company around those core values.

 

It’s one of the keys to lasting success in business.

 

As always, please leave me a comment and let me know what you think. If you need help in building value into your business, please contact me at 914.741.5200 or rmanasse@referencesystems.com.

 

To your success!

 

Rand

 

 

Core Values Shape The Soul of a Company 


 

by Rand Manasse

 

Core values shape the business at Zappos.

 

Change is something that affects every business.

 

What separates good companies from great companies is the ability to change. Not only do great companies change, they change in the right way.

 

Let me explain.

 

Zappos is an example of a great company that is changing with the times. Zappos started out as an online shoe retailer. There was nothing particularly unique about this position. Zappos was not the first company with the idea to sell shoes online. There were and are a handful of companies doing the same thing even today.

 

Yet over the last decade Zappos has been able to become the biggest seller of shoes online and the company has successful changed into being more than just a shoe retailer. In some instances, changing from a shoe seller to shoes, clothing and more would cause issues within a company.

 

There was no issue at Zappos as the company grew. The reason for this was the way the company built its team around a set of core values.

 

There are defined core values at Zappos. None has anything to do with footwear. Core values are more than just what a company does in terms selling. Core values run much deeper.

 

How Core Values Guide and Shape a Business

 

The purpose of core values is to keep the team aligned and working toward a common goal even when change occurs. In the case of Zappos, the business may have been founded on the principle of selling shoes online, but the core values of delivering a WOW experience and having exceptional customer service were used as guiding values in business decisions.

 

Core values are not simply defined by the organization. It is not possible to define a set of core values that you want to have for your company and then work toward those values.

 

 

For example, Walt Disney founded his company based on the simple idea that the job of the Disney was to bring smiles to the faces of children around the world. The company started out making short cartoons that would make kids smile. Eventually Disney created feature-length motion pictures. From there the company opened up theme parks and created a television channel.

 

Throughout its history Disney has changed industries, but the core values have remained the same and those core values shape the business guide and shape the business today.

 

Conclusion

 

The next step for your company is to figure out your own core values. Look at yourself and the people in your company.

 

What defines you as people and as a company?

 

Core values start with the leadership of the company. Everyone needs to figure out what they are passionate about and what the company can succeed at. From there you will find your core values and once you have an idea you can begin building your team and your company around those core values.

 

It’s one of the keys to lasting success in business.

 

In my next discussion I will explore how core values make the choice of the right people in the business that much easier.

 

As always, please leave me a comment and let me know what you think. If you need help in building value into your business, please contact me at 877.341.5200 or rmanasse@referencesystems.com.

 

To your success!

 

Rand

 

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