Know Your Values Grow Your Business Introduction

Know Your Values ...Gro

w Your Business

ILENE RINGLER ASSOCIATESBUSINESS SUCCESS THROUGH PEOPLE [email protected] ileneringler.com

602-300-6465

mailto:[email protected]

http://ileneringler.com/

ILENE RINGLER ASSOCIATES BUSINESS SUCCESS THROUGH PEOPLE [email protected] ileneringler.com 602-300-6465

Agenda To:

Understand why leadership values can be used in any business to create a competitive advantage

See an easy to implement process for a values aligned business

See an example of one application of this process




Who am I? Dr. Ilene Ringler –

Founding Principal of Ilene Ringler Associates - Helping industry leaders in business of all sizes grow their business though leading edge thinking and practical application.

SBDC Business Analyst – West Region Board Memberships/Partnerships

Phoenix NAWBO (National Association of Women Business Owners) Mentoring Program

Arizona Entrepreneurs AAAME (APS Academy for the Advancement of Small, Minority

and Women Owned Enterprises) program advisor Adjunct Faculty

Keller Graduate School, Kaplan Graduate School




Leadership Values – The Foundation for Superior Business Performance“Who you are and what you stand for is just as important as the quality of products and services you provide.”

(2007, http://www.valuescentre.com/)




Values Drive Choices - What are Values?

A value is a belief, a mission, or a philosophy that is meaningful. Whether we are consciously aware of them or not, every individual has a core set of personal values. Values can range from the commonplace, such as the belief in hard work and punctuality, to the more psychological, such as self-reliance, concern for others, and harmony of purpose.

(Roy Posner (2006) http://www.gurusoftware.com/GuruNet/Personal/Topics/Values.htm)




Where do Values Fit In Business Planning?

Which of these can become the foundation for competitive differentiation?

VISION - what we want

to be

MISSION - why we

exist

STRATEG

Y - our

game plan

Values - what is

important




Why Values? Values are personal and individual. Understanding how to

satisfy them in all facets of life and business can they differentiate the business.

Creating a set of core values and integrating them throughout the business will: Increase satisfaction with personal performance, resulting

in more effective total business results, Provide a consistent message to all stakeholders about

the business, Increase business efficiency and effectiveness, Aid in identifying customers, suppliers, employees,

strategic partners, Help customers, suppliers, employees and strategic

partners identify the business.




Values should be integrated into all aspects of the business.

The need to satisfy values drives all actions and decisions.

Stakeholders see the values.

Creating a stakeholder base with similar values will increase business effectiveness.

Strategic Partners

Customers

Suppliers

Family

Employees

Vendors




Creating Business Success Through Leader Values - a 3 Step Process

Step 3 – Creating An Action Plan

Step 2 – Understanding

What I HaveStep 1 –

Defining What I Want




The Process - Step by… Most people start with Step 2,

Some go right to Step 3

What happens if you skip Step 1?

Step 3 – Creating An

Improvement Plan


What I Have




The Process – Step 1


Improvement Plan


What I Have

Step 1 – Defining What I

Want




What Are Your Values? Using the worksheet complete the

Values Profile Select your top 5 most essential values. Write a brief statement as to why these

are your top 5. Go with your gut… but really try and

evaluate what is important to you. The results of this work will provide a foundation for the next steps.




Ilene’s Values ExampleValues - Creativity, Inner Harmony, Independence,

Change and Variety, Knowledge Statement

My creativity is one of my most treasured possessions and I look for the opportunity to be creative in every facet of my life.

Inner harmony is important to me because I feel that spending time with friends and family restores my balance in life.

I need a great degree of independence in both my professional and personal life which helps me satisfy my need for change and promotes my desire for continuous learning.




Others Input Is Always Helpful Discuss with your partner why you answered the

way you did. See if there are any changes you would make to

your statement. Note: You might want to discuss this with

others who are important in your life (i.e. spouse, employees, business partners) to gain additional clarity.

Now… You know what is important to you. Next…. You will need look at how these values

are integrated into your business.




Applying My Values In My Business How would your business operate if

your values are satisfied? Using your worksheet, describe

“nirvana” in terms of values satisfaction for your company.

Work with your partner for additional ideas.




Ilene’s Values ExampleValues - Creativity, Inner harmony,

Independence, Change and Variety, Knowledge If my values of creativity, need for change and variety, independence and

continuous learning are to be satisfied: The company would be dedicated to achieving a product and service mix that is

broad based. I would have many small clients vs. 1 or 2 major clients. These clients would be at the leading edge of their industry. Our company culture should be dedicated to principles of continuous learning,

views failure as a learning opportunity, and places more emphasis on strengths vs. development needs.

If my value of inner harmony is to be satisfied: I would take every Monday off to be with family. Our culture, policies, and benefits would include a respect for employees,

vendors and strategic partners which include emphasis on work/family life balance.






Improvement Plan


What I Have


Want

I know what is important and have created a

values statement

How are these values embedded into my business?




Conducting the Gap Analysis How are your values present in all

aspects of your business? Using your worksheet;

Review the “nirvana” work you just completed

Assess your business today against the “nirvana”

Map the gap




Ilene’s ExampleMy Values Current State +/-The company would be dedicated to achieving a product and service mix that is broad based.

I offer a broad base of services that clients can choose

+

I would have many small clients’ vs. 1 or 2 major clients.

I have created a client pool that is also broad based, but leans towards the larger clients

+/-

These clients would be at the leading edge of their industry

More work to do in this area +/-

I would take every Monday off to be with family

Mixed results here resulting in strained family relationships, but a regular income stream

+/-




Ilene’s values of creativity, need for change and variety, independence – Broad Based Product and Service Mix, Clients – Large and Small -Leading Edge

• International Rectifier• The $99 Furniture Store• Shaw's Supermarkets • Bose Corporation• Smartbridge• Fidelity Investments• Best Western International• Lyle Anderson Company• Arizona Power Service• Financial Planning

Association of Greater Phoenix




Ilene’s Value of Knowledge - Continuous Learning






Improvement Plan


What I Have


Want

I know how these values are

embedded into my business

I know what is important and have

created a values statement






Improvement Plan


What I Have


Want

I know what is important to me

I know how my values are

embedded into my business




Action Planning – Increasing Your Satisfaction

Review your findings. Search for ways to increase your satisfaction in all facets of your business.

Create an initial list of realistic action steps you will take within the next 30 days.

Use the worksheet to help you plan. Review with your partner for additional ideas.




Ilene’s ExampleMy Values Current State +/- Action Steps The company

would be dedicated to achieving a product and service mix that is broad based.

I offer a broad base of services that clients can choose from

+ Keep my core set of products and services

Increase depth of each product and service

I would have many small clients’ vs. 1 or 2 major clients.

I have created a client pool that is broad based, but leans towards the larger clients

- Attend at least one business building activity per week

Create strategic partnerships with organizations that focus on small business




The Process


Improvement Plan


What I Have


Want

I know what is important to

meI know how my

values are embedded into my

business




What have we talked about today A strategic view

A foundation for identifying how values can aid in business and people development from a strategic perspective.

An easy to implement process for creating values based alignment throughout your business.

Action Planning - your immediately actionable next steps.




What we did not talk about today Vertical and horizontal alignment of vision, mission,

strategic plan and culture, Creating successful strategic partnership relationships, How you can identify customers, suppliers, employees

and strategic partners and how they can identify you, Cost effective and efficient practices for:

talent recruitment, high potential identification, employee retention strategies, performance management, training, and recognition




An example-Talent Recruitment – The $99 Furniture Store – Hiring A Manager The Process

Determine Values Describe Position

The What’s = job role – standard in most jobs The How’s = competencies or skills – differentiated by

leaders values Create Values Based Recruitment Advertisement Develop Interviewing System Based on Values Design On Boarding Values Based Process




Website with Values




Recruitment Advertisement




On Boarding Process - Sample

Item Responsible create announcement for staff in each store- to state new

manager is coming on board James/Pam

materials to prepare

a. History/Values b. Brief synopsis of current company situation c. Org charts d. Roles and responsibilities – all employees e. Names of employees – and their history f. Code of conduct g. Marketing materials and strategy h. AAAME i. Long term goals j. Contact Sheet for employees k. Apron and name tag l. Email address m. All password programs and alarm, keys

James/Pam




Questions?

