Building, Managing and Living by Values: The Importance of Principles
What do you do when it’s tough or your back is against the wall? Do you do the right thing or the expedient thing?
I always try to do the right thing but if I look back I don’t think I’ve always succeeded here. I’ve also tolerated or excused bad behavior from companies and firms I’ve worked at or associated with.
As they say, “There are rules, and there are laws”. Don’t break laws for sure. But the way they treat people or employees would not exactly be considered best practices or even remotely kind or human.
For the record, I don’t think these companies are run by bad people. But they are either too busy and/ or frankly cash starved and thus desperate. Desperate people do desperate things when their back is against the wall. Hence, they do some questionable things to cope and survive. Good people do bad things all the time.
I don’t justify or condone this bad behavior. And i can genuinely say, it always will come back and haunt them as their negative reputation begins to spread.
But you also need to survive so you can fix it. And hopefully you are in a position to influence or fix it.
So what can you do?
Clarify your personal values
These values should be the filter & guide of how you make hard decisions
Have a red line on what is acceptable or not
Always focus on doing better and beyond what is okay
This is something I believe I will be working on for the rest of my life.
This is why personal financial independence is so crucial. You need to be able to walk away if you have concerns or find your values diverge clearly with who you work with or for. It’s way too easy to overlook, excuse or rationalize bad behavior when you rely on their cash. Btw: this is relevant for not just employees relying on a company, but also a Venture Capitalist relying on a big Limited Partner for their Fund; or a company relying on a big customer/client. Diversification & thus less reliance on a specific revenue stream is critical.
This is another lesson I learned far too late in my career. Heed my warning here if you want to keep your conscience clear and sleep well at night.