How Do You Align Growth Strategies With Company Core Values?
In the quest for sustainable growth, CEOs and founders often grapple with maintaining alignment between their strategies and company's core values. From communicating mission and values clearly to soliciting member input for inclusive growth, we've compiled the top fourteen insights from seasoned business leaders. Discover how these professionals embed their core principles into every facet of their growth strategies.
- Communicate Mission and Values Clearly
- Evaluate Initiatives Against Core Values
- Quarterly Reviews Ensure Value Alignment
- Revisit Values When Considering New Initiatives
- Integrate Values in Service and Operations
- Incorporate Values in Training Program Refinement
- Align Product Advancements with Company Mission
- Integrate Core Values in Strategic Decisions
- Use Core Values as a North Star
- Assess Strategies Against Company Values
- Embed Values in Decision-Making Processes
- Review Practices for Value Consistency
- Prioritize Partnerships That Uphold Core Values
- Solicit Member Input for Inclusive Growth
Communicate Mission and Values Clearly
The most important part of aligning your team with company growth strategies and values is to communicate what those are. How many times do we see employees working away at their jobs with no real understanding of the company mission, its purpose, or why it was founded? When the mission and values are clearly communicated and shown in action on a daily basis, employees, customers, communities, vendors, and larger outlier audiences get a clear sense of what the company stands for and why it's leading in its domain.
From the moment someone interviews to be a new employee, to the decision to work with a new client, to the areas of exposure (online and in person) that the company selects to grow its voice, the values should align. A company, just like a business leader, needs to walk the talk of its mission and values. This makes it easy for others to refer and endorse the company when opportunities present.
Evaluate Initiatives Against Core Values
As a firm believer in the power of aligning growth strategies with company core values, I've found that maintaining a clear focus on our organizational principles guides every decision we make. At HealthinTech.com, we ensure that each growth initiative is evaluated against our core values of integrity, innovation, and customer-centricity. For instance, when expanding into new markets, we prioritize partnerships with brokers who share our commitment to ethical business practices and customer satisfaction. This not only fosters sustainable growth but also reinforces our brand identity and strengthens our relationships with stakeholders.
Quarterly Reviews Ensure Value Alignment
My leadership team and I meet every quarter to review our strategic goals. We discuss the goals we set, how we did in achieving them, and then set out new goals for the next quarter based on our goals for the year. In this review, we go over the company's values to make sure that we're all still aligned and that we're living up to them with the team.
In the case of disagreements on strategy, we go back to our values and mission. Why are we here building this? And how do we uniquely want to do it? If our strategy is pushing us away from those core values, we step back, reassess, and make changes.
Example: With my company, TrioSEO, one of our core values is "Grow smart, not fast." We could grow faster and take on more clients, but we don't want that added pressure, stress, and potential turnover. In one of our recent meetings, we realized that the past quarter created more issues and stress because we were taking on more clients than we had agreed upon taking per month. We stepped back, talked about it, and committed to only taking on two clients per month to ensure we live up to that core value.
Revisit Values When Considering New Initiatives
Ensuring growth strategies align with our core values at My Millennial Guide is extremely important to me. Our company was founded on the principles of empowering millennials through financial education, promoting responsible money management, and helping people achieve freedom from debt and build wealth ethically.
One way we maintain this alignment is by regularly revisiting and discussing our core values as a team whenever we're evaluating potential new initiatives or partnerships. We ask ourselves - does this opportunity truly serve our audience in a way that upholds our principles? Or could it be perceived as conflicting with the transparency and integrity we strive for?
For example, when exploring potential sponsorships or advertising deals, we carefully vet the companies to ensure they operate reputably and provide value-added products/services relevant to our readers' financial goals. We turn down any offers from predatory lenders, get-rich-quick schemes, or businesses that could promote irresponsible financial behaviors, contradicting our educational mission.
By frequently checking every growth strategy against our well-defined core values, we're able to scale sustainably while preserving the authenticity and moral standards My Millennial Guide was founded upon. Maintaining that integrity is paramount.
Integrate Values in Service and Operations
Our growth strategies are directly tied to our core values, focusing on building trust and achieving excellence. For example, our 45-day free SEO campaign for new prospects reflects our commitment to 'Integrity Above All' and 'Always Be Serving' by building trust upfront. Similarly, our policy of withholding 20% of our fees until client KPIs are met embodies our 'Winning Mindset' and 'Thriving Together' values, aligning our success with our clients'.
This approach not only promotes business growth but integrates our values into every aspect of our service and operations.
Sometimes we have challenges making sure that everyone is kept up to date. For example, the 20% withholding policy is also a bonus paid to team members when we hit the KPI, but not everyone was aware. We responded by enhancing communication, emphasizing transparency, and reinforcing the importance of our values.
My leadership philosophy centers on continuous learning, viewing every new strategy as a growth opportunity for our team and our clients. This symbiotic approach ensures that we learn, grow, and succeed together.
Incorporate Values in Training Program Refinement
To ensure that our growth strategies at Luminetics align with our core values, we integrate these values into our planning and execution processes. For example, our commitment to excellence and innovation is reflected in how we continually refine our training programs, incorporating the latest techniques and technologies to ensure they continue driving results in the most modern way. A specific instance of this is our adaptation of AI-driven strategies and conversational sales strategies inside our Modern Social Seller training program. Being able to help our clients capitalize on the power of these latest tactics that are working right now has significantly enhanced the learning experience and outcomes for our clients. This approach not only upholds our standard of delivering high-quality work but also demonstrates our dedication to innovation and results-driven solutions.
Align Product Advancements with Company Mission
To me, a growth strategy refers to both building and selling. If you're advancing your product to have more value with your end-user in mind, and creating new offerings that align with your target audience, you will naturally be aligning with your core values. For us at WOKEN, our mission is to wake up the world to remember that you can and should find a job that aligns with you, and that is exactly what our product advancements and service offerings deliver. If you are authentic in your business intentions, your growth strategies will follow suit.
Integrate Core Values in Strategic Decisions
A business leader should, therefore, make sure that the strategies set in place for corporate growth reflect the core values by integrating the core values in all decision-making and strategic efforts. One way to make this a reality is by developing clear guidance that captures our core values of what we set out to achieve, what we do, and how we measure success. The guidance in such a case will guide an individual in determining the extent to which a new opportunity or strategy is supportive of or conflicting with set principles.
A good example is my company's intensity of purpose regarding issues of sustainability as one of its core values. When we decided to diversify our products, the question was how to grow without necessarily diluting our commitment to the environment. This was solved by coming up with a very comprehensive process for evaluating new products for their environmental impacts at all stages of the product life cycle, starting from the source of raw materials to its manufacturing and packaging.
We didn't mind the sustainability-driven big increases we saw in material costs while sourcing eco-friendly materials in product redesigns. Great sums of money went to the energy-efficient production of supplies that were full of sustainability. This was once more underscored by our commitment to sustainability as a company and was also assurance that our growth would not be at the expense of compromising our environmental commitments.
The effect was twofold: we introduced a new product that would attract an environmentally concerned clientele and allow us to position ourselves with a strengthened reputation and brand in the field of sustainability. And we proved to our stakeholders that our strategies for growth are strongly connected to our deepest values. This not only made customer retention possible but also attracted sustainable talent and partners, thus contributing to our long-term growth.
Use Core Values as a North Star
It's not always easy to maintain our values-centered and growth-hungry attitude. What I find working is this: We review our basic beliefs (think honesty and customer-focusedness) at each important strategy conference. Similar to having a North Star, it assists in helping us stay on course even when promising new opportunities present themselves. We recently explored a high-profit bond, for example, but it was inconsistent with our sustainability objectives. Sure, there would be a quick profit, but that wouldn't fit with our long-term goal of being an environmentally conscious leader, so we kindly rejected it. Sticking to our principles might at times cause us to miss out, but it generates trust while establishing a solid basis for a prosperous future.
Assess Strategies Against Company Values
The best way to ensure that growth strategies remain aligned with our company's core values is to constantly assess any moves that we are going to make and compare them to those values. An example of this is when we branched into new markets in our real estate investing business. For us, being in the house-buying industry, we often come across sellers who are looking for a more retail price for their property, so we try to be connected with real estate agents that align with our values and offer sellers a service similar to what we provide. Before we jumped into the new market, we made sure that we had a list of vetted real estate agents to whom we could refer sellers and who could give us the confidence that those sellers would be taken care of. We take these referrals extremely seriously because we know our reputation is on the line. By having the right people helping us grow, we know we can continue to live out our company values.
Embed Values in Decision-Making Processes
As a founder of a boutique marketing agency, I ensure our growth strategies remain aligned with our core values by embedding those values into every decision-making process. For instance, our commitment to sustainability isn't just a buzzword; it's a guiding star. When we decided to expand our services, we didn’t just jump on the latest digital trends. We carefully chose partners who shared our eco-friendly ethos, even if it meant slower growth. One memorable project involved a collaboration with a local non-profit focused on environmental conservation. We crafted a campaign that not only boosted their visibility but also educated our audience about sustainable practices. This alignment with our values not only felt right but also resonated deeply with our clients, proving that growth and integrity can go hand-in-hand.
Review Practices for Value Consistency
To ensure our growth strategies align with JetLevel Aviation's core values of safety, reliability, and exceptional service, we regularly review our business practices and client feedback to stay true to our mission. An example of this is our decision to partner exclusively with operators who are registered with the NBAA and IS-BAO. This commitment reinforces our core value of safety and allows us to consistently deliver high-quality and dependable service, fostering trust and satisfaction among our clients while supporting sustainable business growth.
Prioritize Partnerships That Uphold Core Values
As business leaders for our premium lace, it is paramount that our growth strategies remain aligned with our core value as an agnostic marketplace. Our philosophy revolves around open access and inclusivity, believing clients benefit from various options. To maintain this alignment, we consistently prioritize partnerships and collaborations that uphold our commitment to being agnostic and open.
For instance, in expanding our marketplace, we actively seek out relationships with various vendors and brokers, fostering an environment where everyone can thrive. By embracing this open approach, we stay true to our values and enhance the customer experience. Our one-stop solution reflects this ethos, offering terms tailored to each customer's needs, thereby simplifying the process and exemplifying our dedication to customer-centricity.
Solicit Member Input for Inclusive Growth
At The LOLA, we prioritize inclusivity, empowerment, and collaboration in every decision, including our growth strategy. Never straying far from our core values keeps us focused on our most important asset—our community.
We regularly solicit input from our members through our advisory board, surveys/polls, and mini-focus groups to understand our members' evolving needs and aspirations. By #activelylistening to their diverse voices and incorporating their insights into our growth plans, we ensure that our strategies authentically reflect our commitment to embracing personal power, fostering trust, and celebrating each other's successes within our community. We also have members who lead as Community Managers and Community Groups who delve deeper into our community needs and share any pressing needs with our core team.
This inclusive approach strengthens our connection with our members and cultivates a sense of ownership and belonging, driving sustainable growth rooted in our core values at The LOLA.