Making More from Sheep Australian Wool Innovation Limited Meat & Livestock Australia
MODULE 4: Capable and Confident Producers
Procedure 4.3
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The focus of this procedure is on personal and business values and goals. It links to better business planning and benchmarking procedures (see tools 1.3 and 1.9 in Plan for Success). Values describe the things that are important to you personally, whilst goals give you direction by naming the destination. Both have a big role in business and personal decisions, so developing them is important for both business and family.

Values are those things you deem important to you personally, and are the guidelines for how you behave; they underpin the choices and decisions you make. Goals are much less complicated and describe what an individual or business wants to achieve. A goal may be to reach a certain level of income, while your values will determine how you go about reaching that goal.

At a Glance
pt Use agreed values and goals to develop a common sense of purpose within your business

pt Record and display a statement of business intent

Key decisions, critical actions and benchmarks

Tool 4.4 provides you with the opportunity to shape a common sense of purpose, based on the values and goals that are important to each individual in the business.

Determining what values you have in common and what is really important to the people in the business is not something to be rushed – thought and reflection are needed to gain agreement. Allow whatever time is needed to develop a sense of trust, ownership, commitment and unity. You can then discover what people really want. To help develop a common sense of purpose:

  • Work out who needs to be involved. It is recommended that all family members have a chance to contribute to the discussion. Many businesses also involve employees in this step.
  • Start with each person working individually on their values and goals. Then share and discuss these to develop a combined ‘values and goals statement’ for the business.
  • Write down the agreed-upon values and goals as a statement of business intent. Display this in a prominent location.
  • Review the statement regularly. Allow values and goals to evolve over time. You will gain ownership, commitment and unity.
  • Use values and goals to shape decisions. In this way the business will remain focused on what people really want.

Using this process with family and business members will assist greatly with finding and maintaining a balance between work and family time (for more on this issue, see procedure 4.5).