Workshop 4: Core Values (How You Operate)

Expected Duration: 1-2 hours of full uninterrupted focus

Overview

Core values are the principles and behaviours that guide your decisions, actions, and culture. They should be authentic and actionable, serving as your moral compass and operational framework. These values will determine how you pursue your purpose, execute your mission, and achieve your vision.

What You'll Achieve

By the end of this workshop, you will have:

• 3-5 core values with clear, actionable descriptions
• Shared understanding of behavioral expectations
• A framework for decision-making and culture building

Pre-Workshop Preparation

• Review your Purpose, Mission, and Vision from previous workshops
• Reflect on your family's existing values and behaviors
• Please send any feedback to etienne@familyofx.com

Workshop Structure

Step 1: Ask These Questions

Consider these foundational questions:

• What behaviours define us at our best?
• What values guide how we work and treat others?
• What principles are non-negotiable for our success?
• What values do we want to pass to future generations?

Step 2: Individual Brainstorming Activity

Materials Needed: Post-it notes, pens

Write Key Values (15 minutes)

• Each person writes 5–7 words or phrases that represent core values
• One idea per Post-it note
• Think about both aspirational and current values

Examples to Consider:

• Transparency
• Accountability
• Long-term Thinking
• Collaboration
• Excellence
• Unity
• Legacy
• Heritage
• Grit
• Integrity
• Stewardship
• Boldness
• Entrepreneurship
• Professionalism
• Innovation
• Respect
• Humility

Step 3: Collect and Cluster

1. Group Similar Ideas (15 minutes)
   • Stick all Post-its on a board
   • Group similar ideas together into clusters
   • Example: "Transparency" and "Honesty" in one group
   • Label each cluster with a theme or keyword
2. Discuss Clusters (20 minutes)
   • Review each cluster as a group
   • Ask: Are these values truly core to how we operate?
   • Are they specific enough to guide behaviours?
   • Do they reflect both current reality and aspirations?

Step 4: Refine and Prioritise

Prioritisation Process (20 minutes)

• Use dot voting or consensus to narrow the list to 3–5 core values
• Focus on values that are:
  • Most important to your identity
  • Most relevant to your operations
  • Most aligned with your purpose and vision

Quality Check:

• Do these values differentiate us?
• Will they guide us during challenges or conflicts?
• Are they actionable, not just inspirational?

Step 5: Craft Actionable Statements

For each selected value, write a short description that clarifies its meaning in practice:

Example Value Statements:

Integrity"We uphold the highest ethical standards in every decision we make, building trust through transparency and honest communication."

Stewardship"We take responsibility for preserving and growing wealth for future generations, considering the long-term impact of every action."

Collaboration"We work together with trust and respect to achieve shared goals, valuing diverse perspectives and collective wisdom."

Innovation"We embrace new ideas and approaches to drive sustainable growth and impact, staying adaptive in a changing world."

Excellence"We pursue the highest standards in everything we do, continuously improving and learning from our experiences."

Step 6: Validate and Finalise

Reality Testing (15 minutes) Test the values against real-life scenarios:

• Do they reflect how we currently operate?
• Will they guide us during challenges or conflicts?
• Can we commit to living by these values consistently?
• Do they support our mission and vision?

Refinement

• Adjust language for clarity and agreement
• Ensure each value is distinct and meaningful
• Confirm commitment from all participants

Expected Outcomes

This process ensures your values are practical and meaningful. You'll leave with:

• 3-5 authentic core values with clear descriptions
• Shared commitment to behavioral standards
• Framework for decision-making and hiring
• Foundation for building strong culture

Implementation Strategies

Making Values Real:

• Incorporate values into performance evaluations
• Reference them in major decisions
• Use them in hiring and partner selection
• Create stories that illustrate values in action
• Review and discuss them regularly

Living Your Values:

• Post them visibly in your workspace
• Start meetings by referencing relevant values
• Use them to resolve conflicts or dilemmas
• Celebrate examples of values in action
• Hold each other accountable to these standards

Next Steps

Your core values will guide Workshop 5: Goals/Objectives (What You Aim to Achieve), helping you set targets that align with your principles and support your vision.

This workshop is part of the Family Office Strategic Planning Series. Each workshop builds upon the previous one to create a comprehensive framework for long-term success.