Once the executive staff has agreed on the Vision and Mission, it is beneficial to develop a short list of values to be embraced by all members of the staff. These value statements will guide the team and provide checks and balances on the development of a healthy corporate culture. Following is a list of value statements I have used in different companies over the course of my career. It is advisable to pick no more than four to six.

CUSTOMERS ARE THE REASON WE EXIST
Without someone to purchase our products and services we would have no reason to continue as a business. Our sole purpose is to satisfy the requirements of our customers and through them provide the highest level of quality and product performance anywhere.

Over the past 3+ decades I have been both an organizational team member, and a serial entrepreneur. That journey has led to successes and failures and many lessons were learned the hard way.

Among my earliest lessons was learning to admit that I didn’t even know what I didn’t know. After almost 10 years at a NYSE conglomerate, I had risen to Group Vice President by the ripe old age of 33, managing multiple companies with over 300 employees. When the opportunity was presented, I acquired my division and 2 subsidiaries. My rationale was that I knew these businesses inside and out, had hired most of the senior managers, and overseen the strategic planning for years. The division was a consistent producer of growth and cash flow. I had little problem raising debt on an 8:1 debt/equity ratio (after all, that personal guarantee clause was insignificant and would never be exercised). I slapped myself on the back, took my wife to Hawaii and bought a Rolex. Then I left for Japan and Taiwan to acquire strategic tuck-in companies that would increase our ability to grow market share. The Company was wildly successful; after all, contracts with the “Big Three” domestic automakers would drive our valuation through the roof. In fact, we were offered coveted contracts for the platform life of Ford’s Escort, Cougar, Thunderbird, and Bronco vehicles.

Until her death in 1996, my loving grandmother would often repeat the story about how I would try to command my older brother to finish his dinner.  “Brian!” she would mimic my firm, not-quite-so-deep but still very bossy five year-old voice.  “Eat your food!” she recalled me exclaiming.  Brian, more than three years my senior, would simply reply “You’re not my daddy” reminding me that there was only one alpha male in the Phillips household at that time.  Clearly, I was not in charge and had no business telling Brian what to do.  However, the point I was making was valid and, if executed, would lead to favorable results (we could go out and play!).  At the time I hadn’t yet learned the all-important notion of leading by influence.