The most effective companies in our present history find ways of adhering to certain standards and norms, despite unusual marketplace circumstances. Many have adopted virtuousness in a new and revitalized way. As an industry, we should be called to focus inward on what has been achieved during this difficult year, what we have learned as individuals, and how strong our global industry remains.
It is too easy to become lost in the negativity of our world. Sometimes a belief in the greater good of our work is all that we need to be successful even amid so much change.
Positive energy throughout our work is something that is learned over time and is not necessarily linked to a personal attitude. Organizations can be positive energizers for the team that makes up the business or even for their clients, just as much as individuals can energize one another. Traditionally, the expression of positive energy that inspires creativity and growth throughout a business is done as part of an interpersonal and collective engagement process. Today’s approach is a little different, but the necessity of positive energy is just as valuable.
Virtuous practices have been found to be the most effective during times of change because they show genuine compassion. These include expressions of optimism, trust, and gratitude. Research has found that, especially during times of strain, organizations that adopt virtuous practices outperform those who attempt to maintain a working status quo.
How do we now take a virtuous practice and use that to add value to our business? Each area of virtue is a necessary component of a foundation which allows us to build new opportunities. The idea behind value-add is to take what you are already doing as a business, combine that with your virtuousness, and add value through targeted and strategic methods.
Value-add can typically be defined as enhancing a product or a service. The objective is to increase revenue by going beyond your typical offerings, but also creating additional brand value that will help your business develop new visibility. Warren Buffet has famously discussed that he values a business not by the tangible, but by the intangible. Culture, virtue, attitude, and use of knowledge are key areas he uses in partnership development. While these examples of intangible resources lack physicality and can be difficult to value, they are among your most important assets.
The best way to measure your intangibles is to metaphorically remove anything that you are offering to people that is not physical. This might be consulting, marketing assistance, blogs, social media, anything that is not of physical substance. Now, when you removed those things, did your company lose value? Depending on your answer, this is where you must begin to amplify your virtue.
Focus on what among that group of intangibles that you enjoy or do well. Then look at what you would like to do more of and seek out the necessary information that helps you achieve the objective. There is no limit to what you can do to offer more value to your business through intangibles. Set a goal for yourself and measure that goal along the way.
Most importantly, don’t forget why you do what you do. Believe in the greater good of your work and you will begin to realize your true value.