When I think of business, I often think of the relationships that are built along the way.
Now, we all have had experiences with good and bad relationships and this absolutely applies to business too.
A+B= AB is like a relationship.
You don’t get A+B=C, because two people are still two whole people, just paired together. We don’t morph and form one person, although that would be interesting.
Rather, we come together to form a union of two people that share things in common such as interests, passions, visions, aspirations, and values.
When things don’t add up correctly between two people, you will end up with an unbalanced relationship whether personal or professional. Sometimes when things really don’t align, and the difference is too different then the relationship becomes more effort than it may be worth.
So it’s helpful to understand that since we are each individuals that are whole and complete within our own selves that we each have the ability and freedom to change our minds and our lives. We should also remind ourselves that when someone changes that doesn’t make them a bad person, it just makes them a person.
As humans we evolve and grow continuously, and it’s healthy and natural for us to do so. We grow to have different interests, different opinions, and different beliefs as we move through life. Which makes it important to give each other the understanding and freedom to grow and change, and give ourselves approval to evolve as well.
So How Does This Apply to Business?
Business involves people.
Businesses are made by people, for people, and they are expanded through people.
So understanding how people operate within your business, and being intentional with the business relationships that you form can really impact your business and it’s future.
Our values say a lot about our character, and our character says everything about who we are. So if we are looking for a business partner for example, it’s important that their values are aligned with our own, because character counts especially in business.
If being prompt and on time is something that I value, then a potential partner should probably also value this, otherwise there may be conflict down the line. A simple core value misalignment could result in either individual becoming unsatisfied or frustrated, and even lead one individual to attempt to change the other individual which is nearly impossible and certainly not healthy.
If we want to ensure long term compatibility in our business relationships, we need to be clear on a few things first:
- Make sure your core values are in alignment
- Make sure there is a mutual understanding of each other’s individuality and individual power to evolve and change. While also keeping a safe environment for open communication and mutual respect.
- Create a Non-Formal (MOU) Memo of Understanding. This is a blueprint for your operating agreement. There is no real need to involve an attorney, this is simply a mutual understanding between you and your partner about intentions and expectations.
Determine Your Core Values
Core values are not a matter of convenience. They are a way of operating, and a compass to guide your decisions
Core values should be natural to you, and already exist within you. You just need to identify them.
Identify your core values by starting with:
- Things that irritate you
- Things that are pet peeves
- Things that you would never compromise on
- Things that are non-negotiables
We all have things that irritate us and get under our skin. We don’t often take the time to really analyze why that is though, or where it stems from. Oftentimes, these irritants are signaling that our core values are out of alignment.
When we are experiencing irritation it could be a sign of some underlying things:
- We are avoiding our inner truth
- We are playing it safe, and staying within our zone of comfort
- We are relying too heavily on others
- Our core values aren’t in alignment with someone or something in our life.
- Our core values are being challenged or conflicted in some way.
When thinking about your core values, focus on what already exists within you. They should be natural to you and your experience. If they are not, then they are “aspirational values”, not core values.
There are also values that could be considered “foundational” values, like: trust, honesty, kindness, etc. They are more general and in some aspects, and should already be an integral part of everyone’s value system.
These foundational values are also often referred to as “permission to play” values. They are still highly important and should always exist, but are more like bare minimum behavior standards as opposed to core values that would ideally be more challenging and expansive.
As we build more connections in life whether personal or professional, it is so important to already have your core values established. They tell a story of your existence, clarify your purpose, enhance your vision, and are an example of the kind of impact you want to make.
Don’t overlook the significance of investing even just a small amount of time on identifying your core values. Your life, business, and relationships will be so much better off because of it.
Do you have an established value system for your business or personal life? Share it with us, we would love to hear from you.
If you don’t have clear values for your business, reach out to us and we would be happy to connect with you and help you uncover them!
Vicki Langford Director Project 3810
Concepts here are derived from this book.