The Compass Every Business Owner Needs

Have you ever faced a decision in your business and not known how to make a decision on fixing it, never mind the what and when to fix? To gain clarity and move forward effectively, I have learned that one of the most effective actions is to take a step back and analyse your personal core values, understand how they intersect with your business, and identify corrective actions to align them.

I was coached for a number of years by Mel Kaario; Mel sadly died very suddenly last year and is greatly missed. He taught me a simple, yet amazingly effective way to keep a compass for decision making in key life and professional situations, namely always referencing back to your Core Values.

What Are Core Values?

Your Core Values define who you are and how you act; they are deeply held beliefs that guide your behaviour, decisions, and sense of fulfilment. They are the principles you stand by, consciously or unconsciously, in every aspect of life. For example:

• Integrity
• Freedom
• Growth
• Family
• Contribution
• Achievement
• Excellence
• Security

These values act as your personal compass, influencing how you lead those around you, how and when you make decisions, and your methods of engagement with your business and stakeholders.

Why Are Core Values So Important?

If you are fully aware of, and understand, your core values, the benefits will be:

1. They Drive Motivation: If your business aligns with your values, you will feel energised and engaged. When things are misaligned, you’ll feel the opposite, full of days of frustration and leading to burnout.
2. They Guide Decision-Making: Core values will serve as your internal benchmark for making tough choices, ensuring they align with what truly matters to you.
3. They Influence Leadership Style: Your leadership style will reflect your core values to maintain authenticity and will inspire your team.
4. They Shape Business Culture: The values you uphold personally will naturally influence company culture, client relationships, and employee engagement.
5. They Reduce Internal Conflict: When you face resistance in your business, it’s often because of a clash in values; this can be either within yourself or between you and external factors (partners, clients, industry norms).

Using Core Values in Business

Once you’ve identified your core values, you can assess their alignment with your business by asking the following:

Step 1: Identify Your Top 5 Core Values

• Reflect on past experiences where you felt the most fulfilled and energised.
• Consider moments when you felt frustrated or dissatisfied: what values were being compromised?
• Choose 5-7 values that truly define your principles.

Step 2: Assess Business Alignment

For each value, ask:

• Is this value reflected in how I run my business?
• Are my business strategies and policies aligned with this value?
• Do my clients and employees share or respect this value?
• Am I compromising this value to achieve financial or operational goals?
• Where is the misalignment causing the most frustration?

Take these as some examples:

• If “Freedom” is a core value but your business demands long hours and constant involvement, there’s a misalignment.
• If “Integrity” is a value but you feel forced to work with clients who operate unethically, tension will arise.

Step 3: Implement Corrective Actions

For any misaligned values, take the following actions:

1. Strategy: Redefine goals, work structures, or client engagements to realign with your values.
2. Delegate: If workload conflicts with a value (e.g., freedom or creativity), delegate tasks or automate processes.
3. Team and Stakeholders: Set clear boundaries and expectations that uphold your values.
4. Niche: If misalignment persists, reconsider your market, service offerings, or client base.
5. Pricing and Positioning: If a mismatch exists due to financial constraints, adjust your pricing model to attract clients who share your values.

Review and Evolution

Your Core Values will evolve based on your stage in life, external circumstances, and career / business development. What mattered most five years ago may shift, so regular evaluation is necessary.

Methods for Ongoing Evaluation

Annual Reflection: Schedule a review (e.g., at the end of the year or on your summer break) to assess whether your business still aligns with your core values.

1. Quarterly Check-Ins: Regularly ask yourself: Am I feeling fulfilled? What’s causing friction? What needs adjusting?
2. Seek Feedback: Engage with mentors, employees, or clients to understand how your values are perceived and reflected in your business.
3. Observe Emotional Signals: Frustration, stress, or disinterest can signal misalignment; so trace these back to the root cause(s).
4. Life and Business Alignment Audit: List your core values and rate them from 1-10 in how well they are being honoured in your business. Address any that have fallen below an acceptable threshold since your last review.

Final Thoughts

Your business should be a vehicle that enables your core values, not something that constantly forces you to compromise them. By aligning your operations, decision-making, and leadership approach with your core values, you’ll reduce frustration, increase fulfilment, and build a business that genuinely serves both you and your clients.

Author: Niall McGinnity, CEO @ Nuvem9

Main Image Credit: Photo by Jordan Madrid 

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