News Article

25 July 2007

Value the Person and the Financial Consulate

What does the future hold for businesses?

Have you ever thought about what businesses will look like in the future? Believe it or not, we often debate this very topic at Value the Person [- some of you who are more commercial and hard-nosed may be laughing, but we have several ‘academics’ to whom this is of great interest!]

In the third quarter of 2007, Jim Cowan, our Chairman of the Value the Person International management consultancy, believes that he worked with such a business in Baltimore, USA, called The Financial Consulate, an investment and financial planning business with a weekly radio programme about money matters.

What is the Financial Consulate?

The Financial Consulate, a Maryland-based company who have enjoyed unprecedented success in the last two years, have a unique corporate philosophy built around their objective to free their clients from the burdens of money so that they may focus more of their energies on developing strong relationships with family, friends and all other key individuals in their lives.

Like Value the Person, their belief is that the ultimate success of life is found in healthy, loving relationships (- in every sphere of life) and that money is nothing more than a neutral tool to facilitate the development of those relationships.

What took Value the Person to Maryland?

Value the Person was asked by Drew Tignanelli, one of the principals of The Financial Consulate, to undertake a company health check on the team as preparation for their predicted future growth and development.

Through a series of psychometrics, individual feedbacks/interviews and motivation assessments, Value the Person

(1) assessed the motivational levels within the business (- motivation is directly related to productivity in the business),
(2) assessed the strengths (- building on your strengths is the key to success of any individual, team or business) and shortcomings (- minimising the adverse impact of any shortcomings is admirably sensible!) of The Financial Consulate team, and
(3) developed an agreed action plan to create a great team in the future. What makes The Financial Consulate staff different?

Results showed that The Financial Consulate team had the highest levels of motivation of any company that Value the Person had ever assessed! Congratulations to all staff in this business but especially to the leaders who have worked very hard to create the work environment that has allowed this productive culture to be developed over recent years.

In addition to their professional expertise and integrity, the strengths of the business were found to be built around the staff’s dependability and persistence, their problem solving capabilities, and their willingness to ‘go the extra mile’ to help and encourage each other.

What did The Financial Consulate staff decide to do to enhance their future performance?

The action plan produced focused on (a) building on their incredible motivation levels and (b) putting in place some management procedures in the near future to address their limited shortcomings, and to prepare the business for future growth and development. This action plan included regular team performance reviews against agreed objectives (- to keep the team focused on what is really important to them in terms of commercial and cultural success) and individual performance development reviews (- to ensure that individual team members are developed in line with the future development of the business).

Watch this space!

Drew is a good friend of Value the Person and so we hope to keep you up-to-date with their ongoing progress in the months ahead. So watch this space for news of this great company of the future!

For more information about this exercise and the products & approach used to help The Financial Consulate, please Contact Us.