Business Principles are built on core values of you and your business
Principles Defined: Fundamental, norms, rules, values that represent what is desirable and positive for an organization. Principles are basic, change rarely and govern your policies, goals and outcomes.
Core Values Defined: The principles that internally guide an organizations conduct as well as its relationship with the external world. The core values your organization and its key people subscribe to define its character and the substance of your business, management, operations, products and services.
To get started on your business principles, as an owner, you want to be clear what values you as an individual personally hold.
When you are a customer, what makes you happy? What drives you crazy?
When you are a subordinate, What is helpful? What leads to confusion?
When you are with peers or friends, What do you expect others to believe about you? What will you not tolerate?
When you are with your family, What are your dreams? What are your concerns?
Defining your business principles starts with you and is the heart of who you are. Now, verbalizing these will lead to being able to develop and share yours with your team and build the principles your business will hold dear.
Get your ideas flowing by checking out Samples:
IBM had a value jam last summer where they invited all their employees to share what they valued.
Mystic Madness has set up a collection of 20 examples of idea starters for core values. 
The principles that you live by in all parts of your life and business will be the values you share with your team. You may not achieve them 100% every day, but voicing them and giving life to them will enhance all you do in 2012!