Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast, talks about the importance of establishing core values for your business. He's in the process of implementing the Entrepreneurial Operating System (EOS) and core values are a key element. Jason shares why core values should be your company's North Star and how they impact business success.
- Your business can gain a substantial market advantage by reinforcing core values, especially in growing small to medium-sized businesses.
- Don't deviate from them – especially when you're hiring new employees.
- Start with 25-30 and distill down to three.
- Jason shares the three core values he established for HEA.
- The first one is impeccable character. Work with humility and don't be arrogant or have an ego. Act with honesty and integrity 100% of the time.
- His second core value is to be tactfully forthright. Provide feedback politely and professionally. Don't be afraid to speak the truth to better the team. If you see something wrong, communicate this.
- The third one is the pursuit of greatness. Show dedication to your role, team, and job. Have a desire to excel. Be highly ambitious and always strive to make the user experience better.
- When you create your company's core values, use everyday language. Think of the beliefs and characteristics of the team. Core values should be innate.
- Stick to your core values unwaveringly to set yourself up for business success.
3 KEY POINTS
- Establishing and not deviating from core values is essential for business growth.
- Create three or four core values, so they are easy to remember, implement, and manage.
- Hire and fire employees with your core values in mind. Think of it as pruning for growth.
“Your business is only as strong as the sum of its parts, and each one of those parts has to adhere to those core values, or things are going to start to crumble.” – Jason Duprat
“If you wouldn't work with somebody for a decade, then don't work with them for a day.” – Jason Duprat
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