As a small business owner, I disregarded the importance of core values until we made our first hiring mistake.<\/p>\n
At the time, we were a close-knit team of four employees. We hired a fifth employee that the team was split on as a candidate. I made the decision to proceed with hiring the candidate anyway because of a gut instinct. Three months later, I had to fire the candidate and another employee to help save and maintain our company culture.<\/p>\n
After that experience, we formed core values to avoid future mistakes and base judgments on foundational elements. Five years later, the company experienced a successful acquisition. Establishing core values was one of the reasons why I think we were able to build a company worth acquiring.<\/p>\n
Core values help guide the decisions, actions, and behaviors of a company. As workplaces have gone remote, hybrid, or remained in-person, a company\u2019s core values have served as a North Star for employees and executives faced with tough decisions.<\/p>\n
But what are some examples of small business core values, and how do they impact a company?<\/p>\n
We asked CEOs, founders and company leaders for their best recommendations. From “sisterhood” to “dedication to customers,” these strategies may help you develop or add to your core values.<\/p>\n