A professional services business’s core values are at the center of everything it does. These core values reflect the company’s purpose, vision, and culture. They are constants that underlie every decision a business makes.
This last point is especially important. No matter what trends in the market come and go or economic changes occur, these core values don’t change. For example, if having strict service standards is a core value of a business, it won’t cut corners during an economic downturn.
Core values are not dependent on industry, type of company, services offered, or the market. They are created by the founders and leaders of a company and based on their vision of the company.
It’s easier to understand core values if you compare them to a family’s values. Some families are very practical, watching carefully how they spend their money and guarding their future savings. Other families value a sense of adventure over security and stability. Company values work in the same way, but on a larger scale.
Examples of core values include:
- Trust or accountability – A company guarantees that it will provide for clients and employees when they need it.
- Commitment to quality – A business puts its high-quality standards for its services above all else.
- Innovation – Some companies are known for their ability to innovate by offering new technology or services ahead of their competitors.
- Building community – A business may revolve around the idea of creating a positive, supportive community for its clients and employees.
These are just a few examples of the countless possibilities and combinations of core values. Once you clearly identify your company’s core values, these will define every marketing campaign, client interaction, employee hire, service delivery, and more.
For more information on identifying and using core values in your professional service company, check out our report titled, “From Values to Profit: Defining the Principles that Drive Your Professional Service Business Success.”