Better Consultant

On why values matter

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Hi friends,

Soon after I started at McKinsey, I was told we were going to have a ‘Values Day’.

To my ears, this sounded corporate wishy-washy, and to be honest, I was just happy to hear there was a firm-mandated day off.

On this day off, you were meant to meet with the rest of your office for a full-day event to discuss the Firm’s values.

Colleagues from Business Associates to Partners shared stories of exercising their ‘obligation to dissent’ or of ‘creating an unrivalled environment for exceptional people’ (all McKinsey values).

Honestly, I didn’t make much sense to me on that day.

There was so much to take in that I didn’t absorb the purpose of it all.

Corporate brainwashing?

Playing pretend that we adhere to values?

I had numerous doubts swirling in my mind about the entire situation.

I attended four other Values Days in the coming years and I have fond memories from each occasion.

I then left the firm with only one takeaway regarding what the values are meant to do, but a very powerful one that was the seed of a bigger epiphany to come.

Values are meant to make hard decisions easier.

Let me jump to a practical example of this. A story.

Once I left McKinsey, I started coaching candidates for consulting interviews.

Some candidates approached me directly via LinkedIn, or referrals, while others came via platforms such as PrepLounge.

It’s no surprise, I’m sure, that these platforms charge a sizeable commission (a percentage of earnings) from the coach.

Many candidates know this, which is why they approach coaches on PrepLounge and then ask for the sessions to be conducted outside of the platform at a reduced price.

So, it’s as if the coach and the candidate split the commission, transforming it into an increase in income for the former and a discount for the latter.

Many coaches go for this arrangement.

But to me, it makes sense for the platform to also earn because even though they don’t provide the expertise, they provide the framework for the coaching to take place. For instance, they create visibility for the coaches, and confidence for the candidates that they’re not just paying for a random guy on the internet.

So, from when I started, I promised myself that I wouldn’t do that.

Not only because if the platform finds out they temporarily ban you.

But because it wasn’t fair.

I wanted to be fair, and I believed (and still do) that this approach would serve me well.

By now, I must have had over a hundred candidates who asked me directly to go outside of the platform. I denied it and explained why. Some decided to go for other coaches, but some actually appreciated it and decided to work with me despite the higher price.

Having this clear value in mind made saying ‘no’ very easy. I didn’t even hesitate.

It also ensured that, in time, I developed a trust-based relationship with the platform.

It also gave candidates proof that they were working with somebody who was values-based.

Would I have made more money if I had taken candidates out of the platform?

Maybe. But maybe not.

Having had fewer official sessions on the platform and fewer reviews would have also made my profile less attractive to candidates. I could’ve been banned by the platform. I could’ve been reported. Many bad things could’ve happened.

But beyond that, it would’ve felt incredibly wrong and uncomfortable. I didn't want to live my life like that.

For what? A short-term boost in revenue?

This is not meant to be a story about what a white knight I am. It could be a story about anyone else. It’s rather about how defining your values and then making decisions consistent with them makes things overall easier and, dare I say, better.

In line with other values I have defined, I navigate every day easier because of the framework they create.

Values are not wishy-washy. They are the cornerstone of who we are and how we act in the world.

So, spend some time reflecting on what your values are and how they are meant to influence the decisions you make in life.

Then, reflect on them regularly. Even set a day, like McKinsey does. Their power is indeed amazing, and they can have such a dramatic effect on your quality of life.

Until next Thursday,

Cristian

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