FARRIS FORWARD: Your Guiding Light: 7 Steps to Create Core Values for Your Organization

LOS ANGELES–Welcome to Farris Forward, a new series of articles by Jon Farris exploring the intersection of strategy and leadership in the cannabis and psychedelics industries, or any industry where humans work.  Read on:

Navigating Through the Business Seas

In the treacherous waters of the business world, imagine being a captain steering your ship through the darkness of night. Amidst the mighty waves a faint glimmer catches your eye – the unwavering North Star. This celestial beacon provides not just direction but reassurance, a constant amongst the chaos. Similarly, in the complexities of organizational leadership, core values stand as your unwavering guide amidst the challenges and shifting tides of the market. 

The Foundation of Success

As we embark on this journey of defining core values, remember that they are the bedrock of your company culture. They define who you are, what you stand for, and how you operate. Without a strong foundation, even the most ambitious plans can crumble. This is where the wisdom of Geno Wickman, author of “Traction,” becomes invaluable. In his book, Wickman emphasizes the importance of establishing and living by your core values.

Understanding Core Values

Before we dive into the process of crafting your core values, let’s clarify what they are. Core values are not just words on a wall or a website. They are the fundamental beliefs that drive your organization’s culture, decisions, and actions. They serve as a compass, guiding your team’s behavior and aligning them with a common mission. They anchor your emotions in logic and reason giving you the confidence necessary to make quick and decisive decisions in the worst of storms. 

The Core Values Discovery Journey

Crafting core values isn’t a task you complete in a single brainstorming session. It’s an exploration of discovery that involves your team, stakeholders, and leaders. In the following steps we decipher the art and science behind formulating core values, that are not merely words, but a beacon for your organizational voyage.

Step 1: Convening the Crew – Assemble a Cross-Functional Team

Embark upon your adventure by gathering a diverse crew, much like a captain assembling sailors with varied expertise for a sea voyage. Ensure representation from each department – from the entry-level employees to the management – to foster a rich tapestry of insights, fostering an exploration of values that resonate across all echelons of your organization.

Step 2: Charting the Course – Discover Your “Why”

In the pursuit of the North Star of your organization’s existence, introspection is your compass. This isn’t merely asking “Why do we exist?” but diving deeper with “What lights the fire of our passion each day?” Engage in a collective exploration to unveil the intrinsic motivations propelling your organization forward.

Step 3: Chronicles of Values – Collect Stories

Think of your organization as a ship sailing through time, where each event leaves a mark on its path. Extract tales from every corner of your company, where decisions and actions taken have mirrored your values. From a minor act of honesty to major strategic decisions, every narrative holds a clue to the intrinsic values that unconsciously steer your organizational journey.

Step 4: Nautical Themes – Identify Themes

As you navigate through the sea of stories, allow commonality to guide you towards your inherent themes. Scrutinize each tale and identify the recurring themes – be it integrity, innovation, or inclusivity – that have consistently filled your organizational sails. This will form the bedrock of your core values.

Step 5: Crafting the Compass – Formulate Your Core Values

With the prevailing trends now identified, it’s time to mold your core values. Keep them concise, memorable, and action-oriented. Use simple language that everyone can understand and relate to. Typically, organizations have three to five core values, ensuring they remain focused and impactful.

Step 6: Authenticity Amidst the Waves – Test for Authenticity

Your core values should reflect your organization’s true identity. Test them against real-life situations and decisions your company has faced. Examine your core values against past decisions and hypothetical scenarios. Envision a storm (a crisis or a difficult decision) – would your values steer your ship confidently, or would they be lost amidst the high seas?

Step 7: The Collective Compass – Share and Refine

The unveiling of your core values is not a proclamation from the captain’s quarters but a collective affirmation from the entire ship. Engage your stakeholders in the refinement of these values. Encourage open discussions and revisions to ensure buy-in and alignment. Core values are a collective commitment, not a decree from leadership.

Living Your Core Values

Creating core values is only the beginning; living them is where their true power comes to life. Your core values should be integrated into every aspect of your organization. They should guide hiring decisions, performance evaluations, and daily operations. Your core values are not static; they should evolve with your organization, adapting to changing times and challenges.

The author: Jon Farris

The Impact of Authentic Core Values

Authentic core values are not just words; they are the essence of your organization’s character. When your core values are deeply ingrained in your culture, they attract like-minded individuals who resonate with your mission. They become a magnet for both customers and employees who share your beliefs and vision.

A Lasting Legacy

Your core values are more than just a tool for business success; they are a legacy. They shape your company’s reputation, define its culture, and influence its impact on the world. Like a North Star, they provide guidance, clarity, and direction in the darkest of times.

With your core values as your North Star, your organizational ship is now ready to set sail towards a future shaped by authenticity, unified purpose, and unwavering resolve. Remember that crafting meaningful core values for your organization is a journey of self-discovery and alignment. It’s a process that requires introspection, collaboration, and a commitment to authenticity. Your core values are the foundation upon which your organization is built. The journey of this exercise is just as important as the end result. Good luck!

Editor: We’d like to thank Jon Farris for his insights in this article.  Jon Farris is a seasoned entrepreneur with a significant decade dedicated to the cannabis industry. Weathering the tumultuous storms of the 2007 real estate crash, as well as the cannabis downturns of 2018 and 2021, he’s not just survived — he’s flourished. Emerging as an authoritative voice in the cannabis sector, Jon imparts wisdom on both survival and growth. Whether guiding a startup or rejuvenating a mature company, he offers invaluable insights to enhance every phase of the business journey. You can reach Jon here.