I SEE a lot of entrepreneurs trying to grow their business without know their Core Business Values.
Most begin with “how do I get more customers/money?”
They want to know how to EXPAND the business, bring on new team members so they can remove themselves from the daily operations and truly have a business that amplifies their life, not one they are held hostage to.
If you want to know “HOW” to do that, you need to have ONE thing for sure: which is standard among ALL successful companies & entrepreneurs…
Your CORE Business Values
And that means: what your company STANDS for.
They are the REASON you are in business in the first place.
It has NOTHING to do with money (in this context) – it's about knowing what guides your company.
When you know your business core values, and you have them WRITTEN DOWN, so everyone in your organization knows them too, only then can you grow your company.
Here's How I Know:
Every time I work with a client, the moment we get clear on what the company's business core values are, they immediately find the answers to “just as important” questions such as WHO is your customer and WHAT do you do for them?
You see, MOST entrepreneurs have no clue how to answer the “WHO” and “WHAT” question. They are WAY to general.
For example, I have clients in the real estate education space. When I asked “who is your customer?” they told me ...anyone who wants to make a better return on their money using real estate.
Does that tell YOU who it is?
Think about it.
If I'm educating people about real estate investing, are they BEGINNERS or EXPERIENCED? Do they want to buy houses or apartment buildings? Do they have money? How much? If they don't, what am I going to teach them about?
You can see where I'm going with this. And it's the same for YOUR business/customer.
Why Core Business Values Are Important
We tend to believe if we cover the ENTIRE span of the market, we'll make more money – but that's the total opposite.
I don't want to get off track here (because I'm A.D.D.) and I can write a whole book on this subject alone, but when you have your CORE Business Values in place, it will help you define WHO that specific customer is, because you're stating what your company does for THEM…and how it improves THEIR lives.
In other words, you'll know who NOT to take on as customers so you can focus on the 20% of the market that you can ultimately provide the utmost value which is aligned to your CORE BUSINESS VALUES.
Study Apple – look at Zappos for clues of their core business values. And those are just two off the top of my head. I'm sure you can easily find more – even in your own niche.
A company that has defined and ingrained their core business values into their own mind, the minds of their employees re the ones that grow exponentially because it finds the right customers who align with those core business values.