Why start with with the "Why"? (And the importance of company values)

In his awesome Ted Talk (which is definitely worth a watch!) Simon Sinek talks about how the success of a company is strongly correlated to its strength of purpose. It’s the same in the world of small businesses and startups - success often hinges on a clear sense of purpose and a strong set of company values. In this blog post, we'll explore why starting with the "Why" is crucial for defining and upholding company values, and the benefits of having a solid set of values that act as your guiding light.

The Power of "Why"

Every business, regardless of its size or industry, begins with a purpose, a reason for existing beyond making a profit. It could be that you used to work for a corporate and wanted to offer a more personal service. Or maybe you saw a gap in the market and seized it? Perhaps you are the disruptor who just wants to challenge the norm and change the way things are done? Whatever the start point, this purpose is the "Why" of your business. It goes beyond what you do or how you do it and delves into why you do it in the first place. Starting with the "Why" is not just a philosophical exercise; it's a strategic one that can profoundly impact your company's culture, customer loyalty, and long-term success. Consider the example of a small sustainable clothing startup. Their "Why" might be to reduce environmental impact and promote ethical fashion. This purpose then leads to intrinsic values such as sustainability, transparency, and fair employment practices. As the company grows, these values influence everything from their supply chain decisions to their marketing strategies.

Defining Company Values

Company values are the guiding principles that shape your business's behaviour, decisions, and interactions. They serve as a compass, helping you to stay on course, even when faced with challenges (or opportunities, for that matter). Starting with the "Why" means that defining these values becomes much easier, because it’s already everything that you believe in, and have a passion for! Having a strong set of company values has a whole host of positives;

Your "Why" aligns seamlessly with your company values: When your purpose is clear and resonates with your team, it becomes the bedrock upon which your values are built. Not only that, but it offers you a framework upon which to build working practices and performance reviews – not just getting results, but getting results in the right way.

Your values serve as inspiration for your team: Small businesses and startups often face uncertainty and working within an ambiguous framework is almost a given.

A well-defined "Why" can inspire your team, motivating them to work towards a common goal with passion and determination.

They help you to take a customer-centric approach: Understanding your "Why" helps you connect with your target audience on a deeper level. When your values mirror your customers' values, it builds trust and fosters customer loyalty.

Communicating Your "Why"

Once you've identified your "Why" and established your company values, it's crucial to communicate them effectively. Building your brand and business means that you should be sharing your purpose and values! This could be explicitly through your marketing materials and your website, and also less explicitly through the way you behave through interactions with customers and employees (yep – that last bit is VERY important). Consistency in messaging will reinforce your brand identity and attract like-minded individuals and customers.

(Quick heads-up - we’ll do another post on the power of internal marketing, which will delve deeper into values, and how we can communicate them to your employees!)

To conclude…

In the world of small businesses and startups, starting with the "Why" isn't just a buzzword. It's a strategic necessity that should lead to a huge array of benefits. Your "Why" serves as the foundation upon which you can build meaningful company values. When your purpose is clear, it guides your decisions, inspires your team, and resonates with your audience. By embracing the power of the "Why," you can forge a path to success that is both purposeful and values-driven, setting your business apart in a crowded marketplace, and attracting engaged customers that actually ENJOY buying from you! Imagine that, hey?!