Why Core Values Matter

Core values are the fundamental beliefs that guide a company's decisions and actions. They are essential for creating a strong company culture and driving business growth. In the initial stages of a company, core values can help a small team grow. However, as the company scales, the initial core values may not be enough. As the team grows, so do the decisions and challenges.

Core values help align the team around a shared purpose and vision.

They provide a framework for decision-making, ensuring consistency across the organization.

Core values foster a positive work environment, attract and retain talent, and ultimately, contribute to the company's success.

Why We Abandoned Our Old Core Values

As companies grow, they often outgrow their initial core values. The values that helped them succeed in the early days may no longer be relevant or effective. This article discusses how a company had to abandon its old core values because they were no longer serving them well.

The company had grown significantly and the old core values were no longer aligned with its current size and challenges.

The company recognized that its values needed to evolve to reflect its current position and future goals.

How We Developed Our New Core Values

The company employed a six-week process to develop its new core values. The process involved a thorough analysis of the company's existing culture, identifying key themes and values, and soliciting feedback from the leadership team.

The company's leadership team spent over six hours discussing and debating their core values.

The company used a series of workshops to facilitate the development of its core values, engaging the leadership team in deep discussions about what mattered most to them.

The company recognized that core values should reflect what is, not what the company wishes it to be.

The company also considered the potential consequences of having these values, both intended and unintended.

Our New Core Values

The company's new core values were based on the principles of keeping things simple, grit, authenticity, no waste, and owning your shit. These values reflect the company's desire to remain agile, focused, and accountable as it continues to grow. The company also emphasized the importance of transparency, honesty, and integrity in its interactions with both its team members and customers.

The company's new core values were communicated to the team in a transparent and inclusive manner.

The team was given the opportunity to provide feedback on the new values, ensuring that they felt ownership of the process.

How We Implemented Our New Core Values

The company recognized that simply defining its core values was not enough. To make them truly effective, the company needed to implement them in a way that was meaningful and impactful. The company shared the new core values with the team through an all-hands call, where each leader presented one of the new values and shared an example of someone on the team who reflects it.

The company reinforced its core values by weaving them into its quarterly all-hands meetings and planning to discuss them at its upcoming retreat.

The company recognized team members who demonstrated the new core values in their daily work.

Developing Your Own Core Values

The company recognized that not all companies have the resources to hire a coach to help them develop their core values. Therefore, the company offered a free DIY packet that provides a step-by-step guide for developing and implementing core values. This packet includes resources such as a pre-read, a survey, and a worksheet to help companies facilitate the process.

The DIY packet is a valuable resource for any company that wants to define and implement its core values.

The process for developing core values can be customized to fit the specific needs of each company.