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Tips For Developing Your Business Philosophy

Tips For Developing Your Business PhilosophyPhilosophy determines how you intend to approach your business. It signals who you are and how you will deal with the world around you. From that case, you need to spend the same quality time defining your philosophy as you did with your core values. Ask yourself questions such as these:

  • What is the one thing about our business that sets us apart from everyone else?
  • When the situation is bleak, profits are down, and things look hopeless, what is the single belief we turn to for survival?
  • What belief has been the bedrock or foundation of our success?
  • What theme will ensure success if we follow it faithfully?

From this thinking, it should comes a single-sentence statement that captures the essence of your philosophy. Logic would dictate that a natural philosophy for that company might be, “Take care of employees and they take care of customers.” See how the philosophy fits nicely with the concept of a player focus? This is an example of the close fit and similarities of parts of the integrated planning model. Other examples of good, solid philosophy statements taken from actual business plans illustrate the range of philosophy statements:

  • Give people simple software that they can use.
  • We will serve no wine before its time.
  • Nothing gets between a billable day and me.
  • Build it and they will come.
  • Cash is king.
  • We don’t give away our services.
  • We believe in understated elegance in our designs.
  • Our products will overperform a customer’s requirements, every time.

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