At Citadel Earth, we recognize that the ability to embrace change has emerged as a vital competency for achieving success in today’s business landscape. Whether we embark on a new project or acquire a business, it is natural to experience a sense of apprehension or fear in the face of change. However, there are many benefits that we can experience from learning how to remain flexible and adaptable in response to shifting circumstances.

In order to alleviate any concerns associated with this change, our team works hard toward fostering an environment of open communication and collaboration within our business. At Citadel Earth, we ensure that our team members have ample access to the necessary resources, support and training required to navigate change effectively. By cultivating a culture that embraces change and encourages proactive adaptation, you can unlock the limitless potential for transformative achievements in the ever-evolving business world.

What Does “Embrace Change” Mean?

In the workplace, most organizations embrace change management principles, particularly for significant projects such as system implementations, new product launches and acquisitions. Embracing change is a fundamental principle that can be applied to any business, regardless of its size. To embrace change means acknowledging that change is inevitable while also understanding that it’s necessary for growth. This process requires courage, as it involves breaking free from familiar—yet often dysfunctional—routines, allowing you to become a more productive and healthier individual overall.

Adopting the mindset that change can, in fact, be a good thing ultimately enables people to adapt and thrive in dynamic environments and organizations to stay competitive and evolve over time. At Citadel Earth, we prioritize collecting valuable feedback from our peers and promoting ongoing modifications to experience successful change implementation. Embracing change is not just a principle, but a vital mindset. It empowers individuals to adapt, grow and seize opportunities for personal and professional development.

What is the Importance of This Core Value?

When I first became familiar with the structural change management approach, I was skeptical – unsure of how much good it would actually do for our businesses. As I delved deeper into the realm of change management and the importance of embracing change, I gained an appreciation for this systematic approach, both on a corporate and personal level. Oftentimes, organizations will change as their employees change, in turn emphasizing the importance of personal transformation. Although routines can provide a sense of comfort, it is crucial to challenge and change those routines to continuously evolve.

Throughout my career, many organizations I’ve been involved with have done an excellent job combining project management and change management. I have observed exceptional leadership that has successfully embraced the ADKAR Model, a proven methodology that can be used to guide individuals through the experiences—or elements—needed to make a desired change. It addresses the following stages of effective change management:

• A – Awareness of the need to apply effective change management
• D – Desire to participate in and support effective change management application
• K – Knowledge about how to apply change management
• A – Ability to implement new skills and behaviors related to change management
• R – Reinforcement to keep change management in place

As an example of this, one of our previous companies underwent a cafeteria remodel that originally failed because the management team did not adequately prepare for this change. After the remodel, the cafeteria was not functional, and employees were left unprepared for the changes. Management recognized the need for improvement and began applying the ADKAR Model to address this issue. The second time around, management made sure to receive employee buy-in, raise awareness about the upcoming changes and foster a collective desire for the new cafeteria space. This proves that even small-scale, internal changes require serious efforts, an efficient process, clear communication and a desire to change.

How does Citadel Earth Embrace Change?

Due to the nature of our business, the Citadel Earth team has developed a strong ability to adapt to change on, quite literally, a daily basis. We understand that there will inevitably be a certain level of fear and apprehension surrounding change, but it’s crucial for us to quickly establish a shared understanding of our mission and alleviate any concerns from our stakeholders.

When establishing a new partnership, we alleviate any reservations by setting realistic expectations about working with our team. We also create a desire for those to embrace the change by explaining how it benefits them. Finally, we emphasize that change brings new opportunities for growth, such as new systems and products. We strive to reinforce change over time, as well as actively acknowledge and celebrate those who consistently embrace change.

What Advice Would You Give for Creating Core Values? 

Establishing a well-defined set of values provides your employees with a comprehensive understanding of your organization’s principles. Core values should be as unique to your business as your employees and mission, regardless of the business size.

Below is some guidance I would share with any small-business owners or entrepreneurs who are embarking on the endeavor of establishing their own core values:

• Think about what makes your business unique: It’s important to understand that core values vary based on the nature of your organization. Your core values should align with your company’s purpose, mission and the input of your employees.
• Foster a collaborative approach to this process: Conduct exercises and workshops to gather their input and encourage discussions about the desired values. By actively involving employees, you can increase their ownership and commitment to these values.
• Recognize and celebrate success: Publicly recognize and appreciate efforts through internal communications, meetings and/or companywide announcements. This will reinforce the importance of your core values and motivate others throughout your organization to commit to living these values as well.
• Promote awareness: Reinforce core values in day-to-day interactions and decision-making processes. By fostering a shared understanding, you can cultivate a culture that not only understands the values, but truly embraces and embodies them.

At Citadel Earth, our approach is rooted in purposeful, empowered and transparent leadership. In fact, strong leadership is a core tenet behind everything we do as an organization—and it is put into practice each and every day by all members of the Citadel Earth team, regardless of title or tenure.

It is only when “everyone is a leader” that a job can be performed to an optimal level and with the greatest results, which is why this core value resonates so strongly with me. Great leadership means that each member of your team is empowered to take initiative to achieve the best possible result, no matter what the project entails.

What Does “Everyone is a Leader” Mean?

In any small-business environment, it is not uncommon to see a flat organizational structure where each team member is required to wear multiple hats. There is usually a lot going on at any given time that requires a certain level of grit and flexibility—from taking on new and challenging tasks, to accommodating conflicting priorities and fast turnarounds. At Citadel Earth, our team truly functions as a well-oiled machine where everyone is expected to take ownership of various projects and pitch in wherever needed in order to get the job done well.

Because of this dynamic environment, one must be ready for inevitable changes. For example, the deadlines for certain initiatives may need to be moved up based on shifting priorities within the organization. Therefore, you must be able to shift efforts to where they’re most urgently needed and support other team members when they need it. This requires all employees within a business to take initiative—a critical aspect of effective leadership.

There are many ways in which this can be achieved within a business. In some cases, you may find that you are in the right position and equipped with the best skillset to promptly address the issue at hand. At other times, you may need to think through a problem and figure out how to overcome it by seeking out the necessary knowledge and resources. Or, you may even serve as a point person who can pull assets together to help move the project forward.

How We Demonstrate This Core Value

On a fundamental level, taking leadership within your business is about stepping up to solve problems, get the job done, and bring your team and project to the best possible outcome. It requires identifying a space in need of initiative, making proactive recommendations to address those issues, and being a creative problem-solver in everything you do.

As an example of this core value in action at Citadel Earth, in 2021, we closed an investment in one of our growth companies through a series of transactions over several months. We quickly realized the need for a senior accounting professional to help run the business until we could find a replacement—and someone from our team stepped up to take on this role.

She ended up being in this accounting role for longer than intended and faced some big challenges along the way. But she was exactly the right person for the job—and she knew it—so she stepped in to fill the gap. Over her time on this assignment, she made sure everything was done exactly as it needed to be, and when she was finished, she left the organization in a much better place. All of us at Citadel Earth greatly appreciated her doing this.

Why is it Important to Develop Core Values?

Core values have become increasingly instrumental in how I lead as a partner in my own business and in how I evaluate other businesses—especially when those core values are considered fundamental elements of the operation. Shared values can bring together people of different backgrounds to produce a unique culture and great results. Our core value “Everyone is a Leader” is particularly important given that initiative is paramount to the success of any small business.

It’s important that our core values truly reflect who we are as a team and organization. In this way, they highlight the attributes that are essential to the work we do every day at Citadel Earth: investing in our founders, helping them grow and taking their businesses to the next level. With that in mind, we were able to build values that are at the center of what we do and who we are.

What are My Tips for Creating Core Values? 

First and foremost, it’s crucial to “operationalize” your set of core values. When you do this, as Citadel Earth has, those core values become a valuable tool. They can then be used to guide all decision-making, helping to show what’s best for the business and for the people in it.

Core values shouldn’t just be words that are hung up on a wall and forgotten. It’s important to incorporate them into your key messaging to employees, teams, customers and suppliers. Be sure to demonstrate that they’re important to you, and that being in sync with the organization includes embracing and internalizing those core values. Doing so should be part of joining as a new employee or doing business with your organization. When this is accomplished, each of the core values—such as “Everyone is a Leader”—will serve as a powerful tool for your business.

As we work in small businesses, a goal of ours is to thrive in under-resourced environments where every contribution makes a meaningful impact. At Citadel Earth, we believe in wisely investing our energy to achieve the greatest returns. When put into action, this value manifests itself as a guiding principle that influences all aspects of our work.

This core value is a great demonstration of how hard work and diligence pay off over the long run. When we consistently apply ourselves and remain steadfast in our pursuits, we can overcome obstacles, achieve our goals and experience the fulfillment that comes from hard-earned success.

What Does “Return on Our Energy” Mean?

Achieving a return on your energy can occur in many forms. Extending beyond traditional measures of success such as financial gains or professional achievements, this value encompasses the broader sense of satisfaction, purpose and positive influence.

While return on energy can be misinterpreted as just pure effort, it’s actually much more than that. We strive to create a culture that allows our team to assess the situation, evaluate options, confer with colleagues and make an effective decision. In business, most decisions are not fatal, but indecision certainly can be. Creating an environment where individuals feel empowered to make decisions, take calculated risks, and learn from both successes and failures can contribute to a more productive and innovative culture.

At Citadel Earth, we recognize the importance of extending this notion of “return on our energy” beyond the boundaries of work. This means that we strive to make a positive impact in the communities in which we live and work, utilizing our individual contributions to uplift and make a difference in under-resourced areas. By consciously incorporating this value into our daily lives, we not only contribute to the collective mission but experience a deep sense of fulfillment and motivation as a result.

How This Core Value Has Come to Life

Citadel Earth has had the opportunity to collaborate with many diverse organizations that face a variety of challenges, each with unique results. Leveraging yourself, or making full use of your resources, is a great example of return on energy. However, you can’t force someone to leverage themselves. The team member must want a positive outcome and put forth the energy toward making it happen.

As an example of this value in action, one organization that we have been working with recently encountered unforeseen challenges in reaching its monthly objectives. Our team engaged in proactive discussions regarding these challenges, emphasizing the significance of goal attainment throughout the company. We shared that if these monthly objectives were met, the team would start to gain momentum, which would provide inspiration to those involved. Following these discussions, the organization saw increased momentum that enhanced the team’s overall attitude and enthusiasm.

This experience demonstrates that sometimes going the extra mile is crucial to reap the rewards of energy investment. Being able to witness the results of increased efforts first-hand is very beneficial to this process. Sometimes, that is all it takes to eliminate burnout and increase creativity and inspiration throughout an organization.

The Importance of Establishing Core Values 

Establishing core values is essential for individuals, teams and organizations because they serve as guiding principles that shape behavior, decision-making and culture. Core values oftentimes help us align our lives and career paths, while also playing a key role in influencing our thoughts and actions.

For this reason, we strove to create core values that were deeply meaningful to the Citadel Earth team and representative of our business. In particular, the core value “return on our energy” resonates with me because it brings clarity through focus, encourages collaboration and supports effective outcomes. Establishing the right core values for your organization is not only important for long-term success, but it allows people to feel a deeper connection with their work.

What are My Tips for Creating Core Values? 

When creating a list of your company’s core values, it’s important to take suggestions from each member of the company and get people inspired. Core values serve as the foundation for your organizational culture, guiding its actions and shaping its identity. If done correctly, you can create a set of core values that truly reflects your organization’s beliefs, resonates with your team, and guides your company’s growth and success for years to come.

It is essential for your core values to be meaningful and memorable so they can be easily embraced both inside and outside of the organization. As your team develops this list, be sure to keep it simple. For example, you may select five values, or you may find that only two or three strong values are sufficient for your business. From there, you can develop context and actions around these values. Remember, your core values should be motivational, but they should also accurately represent your company as a whole.

Maintaining a growth mindset is critical for long-term business success. At Citadel Earth, we understand that this mentality helps catapult the organization forward as an integral part of our team members’ professional and personal lives. When tackling new projects, for instance, unexpected setbacks can occur. However, what’s most important is how these setbacks are handled and what we learn along the way. It is with this growth mentality that our team can positively respond to change and continuously add value to our founders and investors, as well as colleagues in our community and loved ones at home.

This value, when put into action, allows our team to work cross-functionally, constantly learn new skills and face any challenges that come our way. In business, and in life, it’s easy to make decisions that you’re comfortable with—but it’s often more beneficial to take chances and try something new. This is where the real growth happens.

What Does Growth Mindset Mean?

Depending on who you ask, having a growth mindset can mean many different things. To me, it means accepting what you can learn through difficult experiences, rather than seeing the obstacles or adversities as challenges. Many professionals realize that turbulence is a natural part of business and must be handled properly. Unexpected changes are inevitable, and it is during these moments that having a growth mindset is so vital. The concept of having a growth mindset prevents us from fearing or avoiding inconveniences, while allowing us to become more resilient, adaptable and creative.

A growth mindset is applicable outside of the workplace too. I believe that starting a new hobby, developing stronger relationships with those in your network or simply having the confidence to try something new are all real-life examples of growth mindset. Regardless of the environment, growth mindset focuses on how actions are completed. Embracing the process, believing in yourself and maintaining a positive, optimistic mindset—even when things may not go exactly as planned—are all great ways to live with a growth mindset.

Why is it Important to Have a Growth Mindset?

Often, when we’re faced with the unexpected, it can cause some level of discomfort. Being able to view these unforeseen circumstances as opportunities to evolve is important. Adjusting your mindset and being able to quickly pivot truly impacts how you react to life’s surprises and also how you make important business decisions.

At Citadel Earth, we focus not only on the process of overcoming and resolving challenges, but also embrace the learning and development opportunities that come from that process. The nature of our business oftentimes forces us to step outside of our comfort zones, accept change and push ourselves to our fullest potential. This value is important to the organization and me because it focuses on continuous improvement throughout all aspects of our lives. With this mindset, we’re able to achieve more and see the positive takeaways from all situations.

How is Growth Mindset Applied?

While trying new things can be intimidating, we must accept that failure is an essential part of the development process. For our team to positively impact our communities, everyone must be willing to persevere through tough times and say “yes” to the unknowns. This value is reflected in our team’s willingness to accept new challenges with an optimistic mindset. This comes to life daily in many forms—whether it’s starting a new project or pushing someone with an accounting background to collaborate on a sales and marketing task. By being able to embrace the process, persevere and gain new skills, we constantly see growth mindset in action at Citadel Earth.

After spending 14 years in public accounting, taking my current role as a partner with Citadel Earth actively pushed me into this growth mindset. It required that I take some chances and believe in myself. Since taking this leap and choosing to live with a growth mindset, I have developed significantly and gained the stamina and appetite for trying new things and taking chances that has really transformed how I view my career and life. This mindset shift has made such a positive impact in my life, personally and professionally, which is why this value resonates with me.

What are My Tips for Creating Core Values?

Creating a list of core values is incredibly beneficial for your business’ development, longevity and success. If you’re a small business owner or entrepreneur who is in the process of crafting this list, I recommend that you follow these six helpful tips:

• Think about your personal ideals: Be sure you’re selecting values that align with the ideals that guide decision making and problem solving in your business.
• Anchor on the “why” of your business: Ask yourself what traits and characteristics drive your organization and are the reason why you wake up daily.
• Stick to meaningful values: Avoid “table stakes” characteristics that you hope every company values, such as integrity and honesty. Finding values that are unique to your culture and business is important if you want them to be meaningful and memorable.
• Limit the number of values: If the list of values is too long, it can become overwhelming and disingenuous. Aiming for a list of three to six values makes it easier for your employees to engage with those values.
• Be sure you’re willing to hire, fire and promote around your values: If you feel that these values are not things you want to hold your people accountable for, they are probably not the right values for your organization.
• Make the process collaborative: If executive leadership develops the values, be sure to share the values with all levels of the organization before making them official. This ensures that everyone will feel like they were part of the process and the core values selected are ones that resonate with them.

At Citadel Earth, accountability is the foundation for everything that we do. In fact, “accountable to our community” was naturally the first core value that the Citadel Earth team established. This value is intertwined into our team’s professional and personal lives, and it’s demonstrated daily through our hard work, resourcefulness and follow-through.

Being accountable to the communities in which we work and live is one of our main strengths at Citadel Earth. Without holding ourselves accountable, everything else in our business would fall apart—which is why it’s so important to Citadel Earth and resonates with me personally.

What Does Accountability Mean?

Being accountable to our community can mean a variety of things to different people. To me, it means being helpful and leading our communities and constituencies at all times. Our team members bring their own areas of expertise, and many of us bring experience and knowledge with building, running and sometimes even selling our own small businesses. This ultimately helps us understand the challenges and rewards of running a small business and enables us to provide invaluable guidance.

Most business professionals know that it is not always smooth sailing. This is why accountability is so critical. It requires that individuals maintain their professionalism and take responsibility for their actions and ideas, even when things may not go exactly as planned. At Citadel Earth, this value is a central part of our business. To be accountable to our communities, we must accept responsibility for the interactions we have with each of our investors, our partner companies and our team members. At times, when a current approach isn’t working, we must also know when to pivot and make changes to improve, so it truly is a constant requirement for our team and the broader success of our organization.

Who Makes Up the Community?

To the Citadel Earth team, the word “community” refers to many different types of people that we are involved with on a regular basis. The key groups that make up our community include:

• Investors: Our investors are essential to our business. They are passionate about small businesses. They trust us with their capital and believe that we’re going to make the best decisions moving forward to transform businesses over the long run.
• Founders and CEOs: The founders and CEOs of our growth companies are really looking to us to partner with them in a productive way throughout the investment period. They must trust us with their business that they’ve worked so hard to build.
• Management Teams: The teams at these growth companies need us to be professional, follow through on what we say we’re going to do for them and promptly communicate any changes.
• Citadel Earth Team: Our internal Citadel Earth team members must be able to rely on and trust one other, clearly communicate, and serve as accountability checkpoints for one another.
• Local Communities: The communities in which we work and live consist of local Cleveland businesses, as well as the communities where our partner companies are located. Citadel Earth team members are also involved in mentoring others and educating people about private equity and small business growth.

How Does Accountability Come to Life?

For our team to be committed to and capable of making our communities successful, each individual must hold both themselves and others accountable. This is reflected in the team’s constant willingness to go above and beyond, and it comes to life daily in many forms such as:

• Taking ownership and responsibility for good and bad ideas;
• Pivoting if things don’t work out as originally planned;
• Being available, managing time, and prioritizing responsibilities between investors and founders;
• Clearly communicating with all parties about priorities and responsibilities;
• Volunteering to take on new and challenging tasks; and
• Lifting up and motivating others.

What are My Tips for Creating Core Values?

If you’re a small business owner or entrepreneur who is in the process of crafting your own core values, I’d strongly recommend listening to your team and letting the conversation evolve over time. It’s important that people’s feelings and beliefs influence the values so that they are genuine. Otherwise, it may appear that you are simply trying to check a box or even fit your company into a box that is not truly representative of your people or organization. If possible, try to stay out of the conversation as much as possible and let your team talk openly. You will likely be surprised about the insights they provide!

While sometimes difficult in business, patience is also required. It will take time to come up with core values that are the right fit for your organization. If genuine and relevant, you’ll start to see the values come to life and be brought up organically in performance reviews and new hire interviews, as well as while serving customers and making important business decisions. When the values start driving other conversations and being demonstrated daily, you’ll know they are authentic and align with your organization.

In the aftermath of the COVID pandemic, it became apparent to the Citadel Earth team that it was time to reinvent our core values. We wanted to develop values that better represented our organization, as well as the work we do with our investors and founders who are passionately growing their small businesses. Additionally, we wanted these values to align with how we present ourselves to the communities that we serve.

The Citadel Earth partners spent several months developing values that were authentic to and resonated with the entire team. This collaborative process taught us a lot about one another’s priorities, personal values and visions for our business. Fortunately, we were all in agreement on these five core values—and, coincidentally, the acronym for our core values is “agree”:

• Accountable to Our Community
• Growth Mindset
• Return on Our Energy
• Everyone is a Leader
• Embrace Change

Now, we feel it’s important that we share each of these five core values—and what they mean to our team at Citadel Earth—with you as our investors, founders, team members, and the broader communities in which we live and work. We hope that, by sharing our own principles, this will ultimately help inspire and provide guidance to other entrepreneurs and small businesses owners who are also in the process of developing their core values.

Over the next few months, we will be sharing a blog series that explores each of our five core values and what they truly mean to our team. We hope you’ll enjoy following along!