Lessons Learned
I was asked recently if I would share lessons I have learned in 40 years of working, and in particular, the last 20+ years as an entrepreneur. That experience probably spans close to 400 client companies in many industries and a few thousand people, if not more. I thought I would share some of these lessons with you, over the coming weeks or months. They are not in any particular order, I hope you enjoy.
Lesson #1: If values aren’t aligned, nothing else matters.
Some years ago, I was advising a client on a merger with a competitor. On paper it made sense in every way. It would have been immediately accretive, offering an array of tangible benefits. 48 hours before the deal was to close, I was in a meeting with the two CEOs to discuss a range of issues related to integration. I sat alone with my client when the meeting ended. After what felt like a long silence, I said: “You can’t go through with this.” He replied: “I know, but why do you say that?” I answered, “Because your values are not aligned.” He said, “You’re exactly right.” That meeting laid bare how misaligned the values of the two CEOs were. This had been lost or ignored in the excitement about the possibilities of the new entity. Culturally, it would have been a terrible marriage and the inevitable divorce would have been worse. My client pulled the plug. The other CEO was apoplectic. It was the right thing to do; my client still feels like he dodged a bullet.
Before you commit — to a new hire, to a new role, to a new opportunity — ask yourself if values are aligned. The answer will be sitting in your gut. If your values aren’t aligned, you will not have a common framework from which to operate, plan and grow, let alone manage conflict. Some of the worst mistakes I have made were the result of not paying attention to misaligned values.
We’ve spent a lot of time working on issues like this, if you’d like to chat, feel free to get in touch.
