What is the Value of Values?

Since founding our marketing strategy consultancy in 2008, I have focussed my efforts on defining and communicating the underlying values of our company. Initially I did this to help me clarify my own values when dealing with complex issues, engaging new clients or appointing new team members.

Over the years our underlying values have not changed, but we have become better at identifying, naming and articulating them. Values are an integral part of our recruitment, induction and performance management programme. More recently our values are included in all client proposals.

What’s interesting is that each time we have reviewed and refined our definition of values, it has been the catalyst for constructive change in our culture and business. By expressing our values more clearly, we have been able to understand them more deeply.

The change has been positive. Some clients, team members or suppliers have bonded more closely while others have drifted away. No major earthquakes or rifts, just the natural growth and attrition healthy ecosystems experience in change.

So what are our values?

Honesty and Respect

We speak the truth and respect every person we meet

Generosity and Approachability

We are generous with our time and ideas, easy to contact and approachable on any matter

Intelligence and Creativity

We apply our best minds and thinking to the biggest opportunities to create performance-focused solutions

Purpose and Results

We are focused on the outcome and measure our success on the results we achieve

Fun

We have fun and enjoy the challenge of what we do – even the tough stuff! The larger the obstacle, the greater the reward

You will notice that many of our values are coupled together such as Intelligence and Creativity or Purpose and ResultsThis may be infuriating to the purist or linguist who is seeking dictionary definitions of each word. We have deliberately avoided getting hung up on this as the words only have meaning in the context of our culture, people and behaviour.

I am sure the definitions of our values will continue to evolve as we getter better at expressing them and living them.

What are your values and how have they created value for you and your organisation?

What is the unique value in a member services organisation?

When asked this question, a lot of people will say ‘brand’, ‘history’ or ‘heritage’. Some will even say ‘our people’, ‘our passion’ or ‘our purpose’.

Although you could argue there is truth in all of the above, where is the real value in a member services organisation, and how is it unlocked?

In my experience, the biggest asset in most membership organisations is:

  1. Their capacity to produce unique Intellectual Property (IP) through conferences, events, panel discussions, industry interviews, research, expert opinion etc.
  2. A qualified, preferably well-segmented database of past, present and prospective members

The commercial opportunity exists by being able to transact one (IP) with the other (membership). Additional commercial value can be derived from licencing, sponsorship and media partners, however past, present and prospective members are the core business – and the only reason why sponsors or media partners are interested in the first place.

I would love to hear your thoughts.

Contributor:

Michael Field, Managing Director for Michael Field Pty Ltd.