The importance of values in value chains

October 1, 2010

When it comes to looking for partnerships as part of a value chain, one area tends to be neglected. Usually, business people will develop their business plan properly, identify their market and their source of supplies, and make sure that the math is solid. Beyond the numbers, there is always the human factor that will play a role. Every company, therefore every partner in the chain has its own specific culture. This is important to realize, because when cultures, and values, do not match, the relationship will always bring some hardships at some point. This is not a simple problem to solve, and usually, only few potential partners share your values. It is also important to realize that the word “values” does not necessarily imply good ethics and honesty. After all, hyenas move in packs. Sometimes, the partner that can help grow your business the fastest might not be the right one for the long-term, but it might be the best choice for now. Depending on in which region of the world you do business, the sense of time, sometimes even of urgency, can vary a lot. For instance, North Americans tend to want to start business immediately, while the Japanese will take all the time they need to find out whom they do business with, and build enough of confidence in their potential partner before starting business. In the land of the rising sun, it can take several years before the first transaction takes place. What are the risks of a mismatch of values? It can have serious consequences, depending on how much of your business is engaged with the “wrong” partner. It can range from dissatisfaction about the profitability of your business, constant disagreements and tensions with your business partner, to your being ripped off. One thing is sure: there will never be complete trust and loyalty when values are not aligned. Several years ago, I developed a quantitative system to evaluate the value of a business partnership. It is rather simple in its design and very powerful in its implementation. It helps identify the strengths and the weakness of the business relationship, and it is an amazing to tool to use to address potentially damaging issues over time, and create clarity for future dealings. By realigning values, both business partners can develop a plan of action and look beyond the price negotiations alone.

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Posted by Christophe Pelletier

“Want to” vs. “Have to”: What it means in happiness terms.

June 9, 2009

Want to or have to?It is rather easy to sort people in either one of these two groups. They have very specific and very different behaviors.
For the “Have to” people, everything seems to be a chore. They do not seem to have much fun in life and certainly even less at work. They are the ones that get up in the morning dreading going to work, they hate Mondays and they desperately long for weekends. Their heads and backs are bent under the overwhelming weight of the world they have to (of course) carry on their shoulders.
On the other hand, the “Want to” people seem quite happy, they enjoy what they do (of course, since they want to). They are upbeat and do not seem to carry any heavy burden. The positivity that they exude has nothing to do with the amount of work or the lifestyle they have. All the difference is in their attitude.
The “Want to” people enjoy life more, simply because they have made choices. They have taken charge of their lives and have shaped it around what provides them with fulfillment. Unfortunately for them, the “Have to” people have not reached that point, and they tend to let their environment (boss, family, friends, TV ads, etc…) decide for them what they have to do. Indeed, living somebody else’s life can be tiring and frustrating.
Yet, making the switch is not very difficult, and the best is to start with simple things. What activities, either personal or of a more professional nature do you like to do and provide you with satisfaction? Pick one or two for a start and make a habit of them. The fun that you will get by carrying out these activities will be the best motivation to add more of them in your life.
All it takes is to make the first move, start gradually and persevere. Just take charge of your choices. There is no need and no rush to change everything at once; after all, you have your whole life to reach your goals.

Copyright 2009 The Happy Future Group Consulting Ltd.

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Posted by Christophe Pelletier