Ryan McFarland, the Founder and CEO of Strider Bikes, shares his insights on the importance of establishing core values for a business. He emphasizes the significance of authenticity in defining these values, stating that they should be a true reflection of the founder’s beliefs and motivations. By focusing on what genuinely drives him – a passion for riding and inspiring kids – McFarland was able to establish a clear mission statement for Strider Bikes. Keeping it simple and aligned with his purpose made it easy for the company to live its values and follow its mission statement consistently.
McFarland stresses the importance of simplicity and clarity when crafting core values and mission statements. He advises against overcomplicating these statements with unnecessary jargon and buzzwords, as they can become meaningless and unactionable. By boiling down Strider Bikes’ core values to a single sentence that guides their business decisions, McFarland ensures that everyone in the company understands and embraces their purpose. This clear and straightforward direction prevents them from straying off track with random ideas that do not align with their mission.
Turning values into action is another key aspect of living by core values, according to McFarland. He shares how Strider Bikes incorporated their mission of helping kids ride into socially impactful programs, such as the Adaptive Strider Program for individuals with specific challenges. By earmarking a percentage of their profits for charitable efforts, the company ensures that they can scale these endeavors as they grow. McFarland advises other business owners to look for ways to align their core values with projects for social good and to listen to their customers for innovative ideas that can make a difference.
McFarland’s experience with Strider Bikes demonstrates that establishing and acting on core values do not have to be complex. By staying true to what genuinely drives the founder and the team, a company can be better positioned to help others and adapt to feedback. There is no need to constantly reiterate core values in meetings or make them a rigid set of rules; instead, businesses should focus on continuously improving and reaching more people with their message. By keeping their purpose simple and focused, companies can create a positive impact on their community and stakeholders.
As a member of the Forbes Business Council, McFarland is part of a prestigious organization that provides growth opportunities and networking for business owners and leaders. His insights on core values and mission-driven business practices showcase his commitment to building a successful and impactful company. By sharing his journey of establishing Strider Bikes and living by its core values, McFarland inspires other entrepreneurs to prioritize authenticity, simplicity, and social responsibility in their own businesses.
