{"id":19077,"date":"2023-10-28T04:04:01","date_gmt":"2023-10-28T04:04:01","guid":{"rendered":"https:\/\/mysourcefunding.com\/startups\/how-guiding-principles-drive-business\/"},"modified":"2023-10-28T04:04:02","modified_gmt":"2023-10-28T04:04:02","slug":"how-guiding-principles-drive-business","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=19077","title":{"rendered":"How Guiding Principles Drive Business"},"content":{"rendered":"
\n

Todd Coleman is the Founder, President and CEO of <\/em>eStruxture Data Centers<\/em>.<\/em><\/p>\n

As they say, it can be lonely at the top. Leadership isn\u2019t always easy or obvious.<\/p>\n

While the importance of consensus-building and the invaluable insights garnered from diverse perspectives both within and outside of your organization cannot be overstated, some decisions aren\u2019t up for a democratic vote. Some decisions weigh heavier than others. Some look appealing from the vantage point of the \u201ceasy button,\u201d which often is just a mirage. Some wouldn\u2019t obtain the majority of the popular vote, although they are inherently right under particular facts and circumstances. And while it\u2019s paramount to win the hearts and minds of the people you lead\u2014and build a winning culture that they believe in\u2014leadership is never about winning a popularity contest.<\/p>\n

As a CEO, I often find myself considering and balancing the interests of many stakeholders, namely, employees, customers, shareholders and partners. Those interests aren\u2019t always aligned. Over the years, I have developed and implemented various strategies and approaches to help lead my team toward peak performance. Among these, one strategy that has fostered internal strength and fortitude is developing and using a set of guiding principles<\/em>.<\/p>\n

My guiding principles have helped me successfully navigate headwinds and tailwinds, remain grounded and communicate who I am as a decision-maker to my team members. I strongly believe that guiding principles are a critical part of leadership and that every business leader should have and implement their own. Doing so will not only help you stand up for what you believe in but will also make it more likely that your team members will form their own set of guiding principles\u2014which will strengthen your organization.<\/p>\n

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The Importance Of Guiding Principles<\/h2>\n

Guiding principles are a moral compass that leaders can turn to when making decisions, going through tough times and navigating the day-to-day running of their businesses, rather than simply going through the motions.<\/p>\n

As Rick Hanson, who is a psychologist, author and senior fellow at the University of California, Berkeley\u2019s Greater Good Science Center, wrote in a Psychology Today <\/em>article, it\u2019s crucial to figure out which principles will guide you because when \u201cyou find your North Star, you know where you’re headed.\u201d Two other essential benefits he noted? Your \u201cNorth Star is (presumably) wholesome and vital, so aiming toward it will bring more and more happiness and benefit to yourself and others,\u201d and it enables you to \u201cdream bigger dreams and take more chances in life since if you lose your way, you’ve got a beacon to home in on.\u201d<\/p>\n

How To Determine Your Set Of Guiding Principles<\/h2>\n

Of course, every business leader should follow some universal values, such as treating people with respect and operating with integrity. But leaders should also implement specific guiding principles that align with their companies’ values, missions, visions, goals and cultures. Additionally, these principles should help leaders remain committed to their own unique purpose and beliefs. Just because a principle works for one business leader doesn\u2019t mean it will work for another.<\/p>\n

For instance, I have many personal guiding principles that my various life and career experiences have helped me develop over the years. Some of the ones I stress the most to myself and my team are:<\/p>\n

\u2022 Trust and loyalty:<\/strong> These two principles are the foundation of building strong relationships with all of my constituents, as they power collaboration and communication.<\/p>\n

\u2022 Empowerment, responsibility and accountability: <\/strong>Accountability is one of our company\u2019s values. We empower everyone on the team to take risks and drive outcomes, entrusting them with responsibilities for which we hold each other accountable.<\/p>\n

\u2022 Leading from the front: <\/strong>I don\u2019t ask anyone to do something I\u2019m not willing to do myself, and I ask that my team members take the same approach. Asking someone to do something you\u2019re not willing to do yourself is detrimental to building credibility and trust. Everyone has to do their part to drive great results, even if their part isn\u2019t necessarily in their direct job description.<\/p>\n

\u2022 Standing up for your beliefs: <\/strong>This is one of the keys to practicing ethical behavior. I expect my team members and myself to speak up for what we believe in and stay true to ourselves. For me, this is what allows me to look at myself in the mirror every day.<\/p>\n

There\u2019s no exact formula for selecting guiding principles. As long as you intentionally set them (instead of borrowing them from here and there), reflect on them and ensure they align with your individual and organizational belief systems, you\u2019re on the right path. Also, guiding principles often evolve over time. You shouldn\u2019t expect to define them all at once; rather, you should expect to revisit them from time to time. I developed my set of principles over the span of my career, and other leaders will likely find that as they grow and evolve, so will their principles.<\/p>\n

How To Implement And Live By Your Guiding Principles<\/h2>\n

Implementing your guiding principles starts with living them\u2014ensuring that your principles and actions align. When your constituents see that you abide by the principles of which you speak, they\u2019ll notice. This ties back to one of my guiding principles: leading from the front. If you don\u2019t live by the principles you set, you can\u2019t expect others to do so.<\/p>\n

In terms of imparting your guiding principles to your company, what I\u2019ve found works best is talking about them and making them more or less part of your organization\u2019s DNA. For our company, our guiding principles are just how we live life. Our leadership team regularly communicates and reinforces what we stand for.<\/p>\n

What\u2019s more, encourage your team members to develop their own guiding principles that they can use alongside yours. When you and everyone on your team are anchored by a foundational way of moving through the business world, you\u2019ll see incredible results that open new doors for your company.<\/p>\n

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Todd Coleman is the Founder, President and CEO of eStruxture Data Centers. As they say, it can be lonely at the top. Leadership isn\u2019t always easy or obvious. While the importance of consensus-building and the invaluable insights garnered from diverse perspectives both within and outside of your organization cannot be overstated, some decisions aren\u2019t up […]<\/p>\n","protected":false},"author":1,"featured_media":19078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[77],"tags":[],"class_list":{"0":"post-19077","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-startups"},"yoast_head":"\nHow Guiding Principles Drive Business | Brandiary<\/title>\n<meta name=\"description\" content=\"Todd Coleman is the Founder, President and CEO of eStruxture Data Centers. As they say, it can be lonely at the top. 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