Value Setting Exercise: Set Values (Not Just Goals!)

This article will walk you through a value setting exercise to uncover your existing values and set your core values for the years to come.

You’ve likely just set your goals and resolutions for the year or decade to come. To get that promotion at work, to become debt free, to build a morning routine or to improve your fitness. For any goal, the approach you take to achieve it and your likelihood of success is fundamentally underpinned by your values.

FREE VALUE SETTING WORKSHEET

As a little gift to celebrate the new decade I’ve put together a free value setting worksheet that you can download to follow along with the exercises. It walks you through the two exercises and includes a bonus core values reference to get you inspired!

To download the free worksheet enter your email below and we’ll send you the link straight away!

The Difference Between Goals and Values

Definition of Goals and Values

Let’s start with some definitions to really clarify the definition of a goal and a value.

Definition of a Goal: Goals are your aims. They are the results that you are trying to achieve. An example of a goal is to get a promotion at work this year.

Definition of a Value: Values are your principles or standards of behaviour. They reflect your judgment of what is important in life. An example of a value is excellence in all pursuits. Our values are deeply ingrained and change much more slowly than our goals.

THE PRACTICAL DIFFERENCE BETWEEN GOALS AND VALUES

At the start of a new year, our goals are front of mind. We set our goals with intention and purpose. Time and effort is dedicated to setting goals that are meaningful. Success is measured by whether or not those goals are achieved.

Meanwhile, our values quietly and often without our knowledge guide our every decision. Our values will influence the goals we set. They will lead us along a certain path. This path may lead us to achieve those goals or not.

Our values are not fixed and can slowly change and develop over time. When our personal values and goals are aligned, magic happens! We are motivated, fulfilled and successful.

VALUE SETTING Exercise 1: Comparing Goals and Values

To set values for the years to come, I suggest you first take a quiet moment to reflect back on your values in the previous years. If now is not a quiet time, come back to this value setting exercise when you have 10 minutes to quietly reflect.

If you’d like follow along with a tailor-made printable worksheet enter your email below.

VALUE SETTING EXERCISE 1: INSTRUCTIONS

Now, take out a pen and paper, flip to a blank sheet in your planner, open a new page in your favourite note-taking application or pull up the Value Setting Worksheet. Let’s take a quick moment to reflect on the previous decade.

First, consider where you were 10 years from today. 

Write down what you were doing in a sentence or two. Were you in high school? A student at university? An employee at your current company or a previous company? A stay at home dad or mom?

Next, consider your goals 10 years ago? 

Think back to that time and try to recall your goals and ambitions for the future. Were you aspiring to finish your degree and rise up the ranks in your profession? Were you aiming to change careers? Or to step back from work to spend more time with friends and family? Perhaps to pay off your debt or to save a down-payment for a home?

Finally, consider the values that led you to achieve (or not achieve) your goals? 

This is not an easy question. At first you may not be sure where to begin. There is a difference between what we would like our values to be and the values that we have actually lived by day-to-day. To get value out of this exercise, you need to have the courage to be honest and really dig into the values behind your decisions.

Did you value living in the moment and spend the money for that down-payment on overseas holidays and a car? Perhaps you valued being recognised for hard work either at school, university or in the workplace and pushed yourself to achieve top results? Or, you may have valued relaxation and taken a back seat in your day job? Maybe you valued commitment to excellence and scored that promotion and pay rise! 

VALUE SETTING EXERCISE 1: AN EXAMPLE RESPONSE

Let me give you an example from my own life. I never formally sat down and mapped out these values at the time. Without my realising it, this value setting exercise reveals the guiding principles by which I made decisions. Without my realising it, they propelled me along a path to where I am today.

First, consider where you were 10 years from today. 

In 2010 I was just starting my second year of university. I was a student, living at home, generally enjoying life! 

Next, consider your goals 10 years ago? 

My goal was to become a designer. I aspired to be an engineer or an architect working for a world-class company designing city-shaping buildings. 

Finally, consider the values that led you to achieve (or not achieve) your goals? 

I valued working hard and striving for excellence. This led me to graduate with first class honours and a sizable list of awards. I also valued following my curiosity and enjoying my work. This led me to pursue a specialty in engineering that 10 years ago I had not ever heard of! It sparked my curiosity, and I jumped all in to secure an internship in that field. I valued owning my own home and saved up a down-payment for my first apartment at 23 years old. 

It’s much easier to look back on our successes than our failures (of which I have had many!). I also valued comfort and adventure which led me to spend a lot of money on overseas travel.

A Practical Approach for Setting Your Values

A quick recap. Goals set the vision for where your life is headed and values determine how you will get there (or not!). Living by the right values is essential to achieving your goals and dreams, so we need a practical and straightforward way to decide what our core values are.

Value Setting Exercise 2: IDENTIFY Your Values for The Decade to Come

My simple value setting exercise is underpinned by asking one simple question. Let’s dig in.

VALUE SETTING EXERCISE 2: INSTRUCTIONS

Start by asking yourself one simple question.

Consider your goals for the decade to come. Values are magnified over time, so I encourage you to dream big! Now ask yourself, “what type of person is an amazing __________ ?”.

Fill in the blank with your own goal. For example, Perhaps, your wildest goal is to be the CEO of your current company. What type of person is an amazing CEO? Your goal may be to be a parent or to be a business owner. So you would ask what type of person is an amazing parent?” or “what type of person in an amazing business owner”?

Now, reflect deeply on the answer. Identify role models living your goal.

Reflect on role models in your own world. You can watch interviews or TED talks by people who have forged the path ahead of you. What underlying values got them to where they are today? Why do you respect them? Which of their values do you recognise in yourself?

Next, write a list of core values embodied by your role models.

Write a list of the values that you the amazing CEO, amazing parent, or amazing business owner would embody. Aim for a minimum of 5 core values.

If you have multiple key goals, complete this exercise for each of them and take particular note of the common threads.

Finally, select your own core values to live by.

Pick out three values from your list that really resonate with you. You should admire the people who exhibit those values in their day to day life. The values should align with your internal compass of what is right and good.

You will know they are a good fit if the thought of living every day by those values makes you feel excited, proud and happy.

If the values you wrote down in the previous step don’t resonate with you it all, it is time to reconsider your goal. Jump back to asking yourself the one simple question, with a slight tweak.

What happens if you 10x or 100x your goal and try the exercise again? What happens if you pick a totally wild goal? Try on a goal of pursuing your childhood passion or changing into a new career. Don’t settle until you feel that tingle of excitement in your stomach. Keep on pushing until the values feel like a good fit.

VALUE SETTING EXERCISE 2: EXAMPLE RESPONSE

Let’s take an example. Say, your crazy, wild, big goal for the next decade is to be a CEO.

Start by asking yourself one simple question.

What type of person is an amazing CEO?

Now, reflect deeply on the answer. Identify role models living your goal.

Rules are made to be broken, so many of my role models are in fact not all CEO’s but undertaking a similar high level leadership position.

I am so inspired by these incredible women:

• Jacinta Arden the Prime Minister of New Zealand and an amazing mum.
• Sheryl Sandberg the COO of Facebook, author of Lean In and an amazing mum.
• Whitney Wolfe the founder and CEO of Bumble and an amazing mum.

Next, write a list of core values embodied by your role models.

Some of the values of an amazing CEO are:

• Independence: Ruthlessly pursuing what you believe in. Ignoring the nay-sayers and just getting on with it every single day.
• Reliability: Do what you say you’re going to do, when you say you’re going to do it. Let others know they can count on you.
• Excellence: Commitment to excellence of the executive team, of the staff, of the services and products that the company produces.
• Challenge: Challenge your preconceived notions of the world. stepping up to a challenge rather than going around. Challenging others and expecting them to also challenge you;
• Meaningful Relationships: Buildng positive relationships, nurturing those around, above and below you. Coaching and mentoring others to achieve success. Making time for friends and family.
• Integrity: A commitment to doing what is right rather than what is easy.

Finally, select your own core values to live by.

This year I am committing to live by the values of independence, reliability and excellence.

Live By Your Values

Now that you have completed this value setting exercise, keep your values front of mind and refer to them often. Commit to living by them. This takes courage! I believe in you!

You may like to have them written down by your bed and read through them each morning, or to have them listed out on your to-do list next to your daily tasks. Do whatever it takes to keep them in your mind daily.

Continuously strive to live by these values in everything that you do and success will follow.

What are your three core values? I would love to hear from you!