Learnings

1. The importance of mutual trust and loyalty 

The most meaningful learnings gained through experience. By and large, has been that successful business relationships are based on mutual trust, loyalty, collaboration and shared purpose. Without these fundamental building blocks, management teams are missing out on a critical ingredient. Notably, one does not learn these essential attributes. They are fundamental to each team member’s personal qualities and past experiences.

Therefore, it is important to ensure a cultural fit and shared objectives. Together with, all team members in the organisation.

2. Independence has a price

I have worked with clients during the crucial administrative, development and build-out phases of their businesses. However, until recently I never appreciated the high risk and personal exposure being an independent, corporate advisor. When employees of large corporations are involved in a failed transaction. Consequently, the company they represent settles the loss and reputation damage. As a result, their representatives are protected by the corporate veil. Conversely, working in an owner-managed business as an independent advisor, you are the brand. Moreover, you are the one accused guilty by association when a client fails or is accused of wrongdoing.

3. You are not your client

Most notably, one of the most significant lessons learned is that people are not always as they seem. Working as an arm’s length service provider to a start-up involves stepping into the entrepreneur’s shoes. Therefore, sharing their passion, buying into their vision and experiencing their growing pains. To emphasise, it is never the arm’s length experience intended.

Ultimately, through association, you are rewarded for their successes through recommendations and new client opportunities. On the negative side, an association can be damaging whereby their failure taints you. Especially, when the failure is as a result of questionable integrity issues and commercial agendas unbeknown to you.

4. Motivations are not always as they seem

My most relevant learnings gained through experience. Markedly, occurred five years ago. Significantly, I had an encounter with a client which caused me substantial reputation damage. The implications for my personal life, growth and values have been massive. In a way, I am thankful for the experience. As a result, I have gained valuable insights into my vulnerabilities and ignorance.  Not to mention, an understanding that everybody is driven by varying values and standards of integrity. You need to be selective when you choose your partners, business associates and clients.

Reflections for personal growth

For me, what is essential to reflect on is what I have gained from this. It has been a significant learning curve and has made me much wiser. In particular, in terms of vetting people’s intentions and consistently questioning their integrity and purpose throughout a business relationship. These qualitative due diligence processes we often take for granted when the project objective stacks up.

Henceforth, I now value the relevance, especially after experiencing first-hand how greed and vested interests can outweigh integrity. This experience and the resulting challenges that I have encountered along the way has left me stronger. Furthermore, I am confident to implement and enforce a reliable and trusted operational ecosystem for any business. While being alert to recognise and act on control weaknesses and threats to both my integrity and that of the businesses I am serving.

Purpose wins over profit