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If any of you read my recent comments and posts regarding the Edelman fiasco, you discovered my hot button....
I am intolerant of errors that should have been prevented and could have been prevented if every business decision is filtered through values that speak to honesty and transparency.
I believe that the foundation of success is made up of values, ethics and a great passion to grow our business in ways that make the world a better place. If money is our first priority, I don’t think we will succeed, unless our only measure of success comes in the form of government-issued paper.
By developing strong bonds through relationship-building based on values and trust, our business will benefit financially and we begin the long, hard process of converting customers into loyal customers, which results in long-term positive impact and payback for our business.
To create values, we begin by asking a few questions:
1. Do people believe what we say and do we say what we mean?
2. Is our business built on values that represent the heart and soul of the founders and leaders of the business?
3. Does the corporate culture buy into those values?
4. And do the values represent core beliefs held by the executives and founders that reach beyond profit?
5. Why should we expect anyone to buy our products or services if they cannot trust us to be honest and caring human beings?
When we read headlines and articles that indicate a business acted in a dishonest or untrustworthy way, all our businesses suffer. In my opinion, if you haven't declared your business values, don't wait another minute to do so.
The first step is to identify the values on which the company will run. These values will never change and they must represent the true and authentic values of every owner and founder of the business. Everything that follows will align with these values. The values should be printed on every plan—including revised business plans, organizational strategic plans and departmental strategic plans. And those values should be used to evaluate everything the business says and does, before we say and do anything.
When we build our business on values and insist that everything we do is filtered through those values, we then build trust, credibility, and customer loyalty through our behavior.
In conclusion, I believe that success and business growth revolve around these 10 critical factors, with values the most important:
1. Credibility, Trust and Values
2. Relationships and Partnerships
3. Brand Development and Brand Management
4. Business Culture and Diversity
5. Under Promising and Over Delivering
6. People-Centrism
7. Planning
8. Visionary Thinking, Calculated Risk Taking, Strategic Thinking and Doing What You Do Best
9. Sales and Marketing
10. Listening, Solving and Meeting Real Needs
These things, I believe, will create a business that we can be proud of.
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Comments
Hi Lewis,
Excellent observations in your post today. The core values that you discuss make all the difference in the world to a business--the difference between surviving and flourishing or failing. People always detect businesses that are fakes or lack meaning and bedrock values. Once credibility is lost, no matter what else a business does, it will not be successful.
Posted by: Claire Ratushny | 10.18.06
Great, Lewis, really great. It's clear what stands to the core of being passionate in our job and I agree with you on the fact that ethic is a key factor. But I want to be provocative: how many of the clients you and all the others bloggers and marketers around nurture the same passion? Are we sure that WalMart may lose customers for the story above? Because, by the way, WalMart is very discussed but still growing and expanding in the US and worldwide.
Posted by: gianandrea facchini | 10.18.06
Claire, I agree. When we are inauthentic, customers see right through us.
Gianandrea, I can only speak for my clients: They are indeed passionate about values and ethics. Partly because I refuse business from clients who aren't, but mostly because those who call me are. WalMart is expanding, but their last quarter was disappointing. Don't know if that means anything.
Lewis
Posted by: Lewis Green | 10.18.06
Hi Lewis, I would add...
Value and empower your employees.
Posted by: Tammy Strnatka | 10.18.06
"I believe that the foundation of success is made up of values, ethics and a great passion to grow our business in ways that make the world a better place."
Excellent post and well said.
One of my mantras is: "Choices are based on values."
Think about it, where we choose to spend our time, whom we choose to spend our time with, what we read, watch,etc. is all based on what we value. So yes, what we put out there--especially as marketers who determine so much of what is put out there and promoted--should be driven by value. Integrity, loyalty, respect and, yes, ROI will certainly follow.
Thanks for this post; you really set such a great example for the industry.
Posted by: CK | 10.18.06
Tammy and CK,
What can I say? You have it right about values. (Yes, we must empower employees and hold them accountable to the company's values, and yes,"Choices are based on values." Well Said.)
Thank you for adding value to this post and conversation.
Lewis
Posted by: Lewis Green | 10.18.06
Lewis, FYI: Gavin cited you here for this great post, just FYI: http://servantofchaos.typepad.com/soc/2006/10/oops_i_forgot_i.html
Posted by: CK | 10.24.06