3 P’s of a company’s value system:

• People - Your values should help you decide who you should hire, who you should fire and how you treat each other while you work there
• Product - Your type of product, its features, how you treat your customers and how you respond to threats and opportunities around your product are built into your value system
• Process - Values associated with process link to how decisions are made in a company. This includes how you report progress, hold people accountable and trust each other.

<aside> 💡 Values are written words, and your culture is how you actually live those written words.

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How to get to the next stage of growth:

• 1. Articulation - To start, your goal is to articulate, not create your values; identify who your are through inspection and then pull out and articulate the things you like
• Steps to do this: Convene a diverse dozen, Record ideas until they’re in the triple digits, Be the Chief Editor Officer, Put them to The Oxygen Test (which of the last 25 values couldn’t you live without?)
• Phrasing: “Use human, actionable words — especially verbs. That way, they are action-oriented, resonate better and feel more implementable.”
• Try not to call your guiding principles “core values” because the phrase has been overused
• 2. Living the Values - Your goal is not to hire people who exhibit your values, but who are not incapable of living your values; the founders must exemplify the values

<aside> 💡 When it comes to the tough work of orienting your team with company values, don’t get mad. Just put the salt shaker back in the middle and people get the message.

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• “Keep your eye out for ways in which values are being interpreted in ways that you did not imagine. That may be in both a positive and negative way, depending on the scenario.”
• Frequently assess how your values translate into reality throughout your company
• 3. Changing Values - Be open to changing your values, but not too often
• “If you change them quarterly, they’re no longer your values, they’re strategies. In order to be meaningful as values you need to have continuity. You can change them, just don’t do it too often. Every couple of years, make tweaks.”