Episode D2.008 Practice Business Values

3/9/2020

IBGR - RESULTS Radio Network. Everything a business owner needs to start, grow or exit a business. Come grow with us.

Introduction
Hope everyone is looking forward to a great week. We have a few announcements to make about growth of the IBGR Network.

First, we are doubling the number of new and returning visitors to the site. July was twice June’s numbers and we beat July’s numbers over the weekend.

Second, with the addition of Gambia on Sunday, IBGR is now heard by entrepreneurs in 100 countries. That is 51% of all the countries on the planet.

Third, we have declared war on Covid19. That is not on the disease itself, just a worse variant of the flu. Our declaration is aimed at those politicians and bureaucrats that are making arbitrary, non-science based decisions on economic activity. People with no skin in the game, collecting checks from our taxes are deciding which business lives or dies. If you do your own research, a stark reality will become apparent - what is happening in your country is not based on science - it is based on power and control.

Check these articles out as reference points:

Put all of this together and we are your advocates against the forces of statism and command economies. We understand entrepreneurs are a different breed that don’t live by the leave of others - why? Because everyone at and associated with the station are entrepreneurs. We are building a network of ideas, insights, and tools that will help you navigate the pandemic and beyond.

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Show Objectives
Values should be at the core of every business. They're what your business stands for, your philosophy, your reason for being. Your business's values will help to steer your business, management and employees in the right direction.

Having core company values can help you ensure each of your employees, from top leadership to entry-level, are working towards the same common goal, and share a bigger purpose.
Purpose is undeniably critical for employee satisfaction. In fact, an Imperative survey of LinkedIn members found 73% of purpose-oriented members are satisfied in their jobs, compared to 64% who are not purpose-oriented.

Plus, purpose doesn't just improve employee satisfaction -- it also increases your bottom line. The same Imperative survey found 58% of companies with a clearly articulated and understood purpose experienced growth of +10%, compared to just 42% of companies that don't prioritize purpose.

Ultimately, core values are critical if you want to create a long-lasting, successful, and motivating place to work.

Key Issues
Owner Perspective:

Everyday pick one value to practice,
Select one of the behaviors listed in the value to practice,
Announce to the company what is the value of the day so everyone conscious of it.

Employee Perspective:

Based on the announced value - practice it and prepare questions about it,
Ask questions about the value/behavior to gain greater clarity,
Provide the owner with feedback on their behavior

What You Need to Know - The What
Every company has a culture, either by default or by design. When companies don't pay attention or guide the culture, the wrong values can become ingrained. Employees can learn by observation that there is a culture of secrecy, of placing blame or of cutting corners.

In essence, your company values are the beliefs, philosophies, and principles that drive your business. They impact the employee experience you deliver as well as the relationship you develop with your customers, partners, and shareholders.

Your company values are your company's DNA and they help you differentiate your business from the competition. That's why you can't make any important business decisions without having them in mind.

You have to live your company values in everything you do and set the right example for your employees. It's the only way you can build trust in the workplace. Don't ask your employees to follow the company values you've set for your business if you don't follow and integrate them into your daily work in the first place. Every decision your employees make should be aligned with the company values you've communicated with them.

The only way to know that your employees are practicing your company values is to first of all HAVE a set of company values and then practice living them in the workplace. What gets measured gets done. Feedback on the practice and use of your business values is the best way to ensure understanding and compliance at all levels.

What You Need to Do
To take control and shape the behavior of your employees, you need to set core values deliberately, take them seriously and operationalize them. Having them without acting on them can actually be worse than not having them at all; that communicates inauthenticity.