Defining your company's core values, purpose, and envisioned future.
Your core values, purpose, and envisioned future are the essential components and the foundation in creating the vision for your company and your business strategy. These components help you understand who you are, why you exist, and where you are going. These concepts are likely not new to you. The goal is to highlight the impact and show you how to define this ideology in your company. Once established, you’ll be ready to strategize for future sustained growth.
What are the core values of a company?
The core values are all of these non-negotiable values, which should not change or be compromised based on revenue, customers, competition, etc. These core values should be true to your organization, and should be the values represented by leadership.
What to consider:
Values that do not change. A value today should be the same 30 or 50 years from now.
A value is consistent regardless if it is rewarded or not.
An organization should ideally have 3-5 values. More than 5 you are likely describing business practices or culture.
After defining the core values of your organization, identify the purpose. Start by identifying what makes you get up every morning and go to work or why would other people want to work for your organization.
Consider the following:
What is the purpose of your organization? Why do we exist?
Why you exist beyond making money. Why do you do the things you do? To get to a deeper response use the “why” level questions, several times. In order to have a great purpose, the key is to always connect your purpose with something more meaningful, something beyond just making money, a job, or a revenue stream.
Once you identify the non-negotiable core-values and your purpose, you can project into the future. It’s important to emphasize that the Envisioned Future is not concerned for current resources, ability or how realistic the future appears. At the time of describing the envisioned future, you should describe a future that is not realistic or attainable today.
The first component of the Envisioned Future is the BHAG: Big Hairy Audacious Goal. This goal is set for 10-30 years in the future, and should be extremely aspirational. When you describe the goal it should be spine-chilling, yet full of excitement. It is important to emphasize that your BHAG should not rely on what is accomplishable today or in the short term. The second component of the Envisioned Future is the: Vivid Description: Be as specific as you can describing this Big Hairy Audacious Goal, Bring your BHAG to life.
“What the mind of man can conceive and believe, it can achieve.” – Napoleon Hill
I trust that you will find clarity and direction for your organization as you spend time defining your Core Ideology.
Below you'll find a free editable PDF that will help you create the core values, purpose and vision for your organization.
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