This week we will be looking at our 5th question-What values are important for business success?
Throughout life we develop a set of values that are personal to us and our beliefs but there are certain values that you will need in order to run a successful business.
This week will be looking at those values and what makes them so important to your success as a business owner.
The first value, and probably the most important is:
- Integrity: As a business leader, your personal integrity is important to keep. It will be an example to others in your team and so they will always follow what you do. It’s not about do as I say and not as I do. Keeping your commitments, being honest and treating people with respect, builds and maintains trust. This is very important in business.
The second value to have, especially in business is:
- Innovation: Be innovative! Coming up with new angles to look at your old problems and creating new markets for yourself will be pivotal to success.
As you probably already know, we live in a fast-changing world. That means that you have to create and foster an environment that encourages creativity and innovation. To encourage the sharing of best practices, especially among your team members.
Our third value to have is:
- Excellence: Excellence is a journey and not a destination. It’s about putting your best efforts in to get the best possible results with the resources you have available to you. However, it is important to suppress your ego! If someone else can do it better than you, let them do it. That’s important as a leader.
The fourth important value is a simple one:
- Respect: Respect for the individual. Respect for your team members. Respect for your customers. Respect for your investors. Respect for your employees. Just respect for all people. Treat people with the respect they deserve. Every human being likes to be treated with respect.
Lastly, the fifth value you will need to run a successful business is:
- Accountability: In a world where nobody seems to want to be accountable for anything, be different! If things go wrong, take responsibility and put it right. Being accountable for your own decisions and errors is so important to gaining trust and commitment from everybody around you.
So, ask yourself this week, do I have these values in life? Can I implement some of my own personal values into my business? And, what values do I have that could have a negative impact on my business?
Next week we will look at our next question: Do I need a business plan?