The Business of Meetings 257: Values in Business: Will You Stand or Compromise with Eric Rozenberg
Do your company values genuinely shape the way you run your business?
Today, Eric dives into how to build a company culture to align with the values of your business and ensure they determine how you operate within your business.
Join us to learn the significance of upholding your company values, even when it involves making difficult choices or sacrificing some revenue.
Turning Down Business for Ethical Reasons
Eric begins by sharing three stories to illustrate the importance of sticking to the core values of a business.
In the first story, he faced a dilemma when a major pharmaceutical client wanted to hold a sales meeting in Vienna just as a controversial political leader had taken power in Austria. Despite needing the business, Eric stood by his principles and refused to organize the event. After discussing his concerns with his client, he was allowed to keep their business and chose a different destination.
Looking back, Eric realizes he could also have accepted the job and donated some of the revenue to an organization opposing that ideology.
Quality Over Cost
In another story, Eric lost a bid because his pricing was too high for a senior project, even though it aligned with industry standards. Months later, the same company was dissatisfied with their chosen provider and asked him to step in for a critical sales meeting. Eric and his team worked all night to deliver an exceptional event. However, when it was time to discuss future projects, the procurement officer insisted on a 30% fee reduction. Refusing to undervalue his work, Eric walked away from the deal. He learned later that the company dismissed the procurement officer.
Letting Go of a Toxic Team Member
Eric had to make a tough personnel decision when a project manager he knew personally before hiring her turned out to be toxic to the team. She often criticized others and fostered a negative atmosphere. So Eric let her go, even though she was highly skilled, prioritizing company culture over individual talent. The immediate improvement in team morale confirmed that he had made the right choice.
Defining and Living by Company Values
For all business owners, establishing values is the key to guiding their choices regarding clients, vendors, hiring, and overall company culture. Business owners build a foundation for long-term success and sustainable growth when their values have been well-defined and consistently applied.
Bio: Eric Rozenberg
Eric is a business builder and the founder of Event Business Formula, the only platform exclusively dedicated to helping and supporting business owners in the Meetings & Events Industry. He has helped thousands of entrepreneurs grow and manage their business better.
For two decades in a previous life, Eric has consulted with Fortune 500 companies and produced award-winning sales meetings, incentive trips, product launches, and conferences in more than 50 countries across diverse industries.
His podcast "The Business of Meetings" is the first podcast in the Meetings & Events Industry dedicated to business owners and the largest source of free information with over 240 episodes and fabulous guests.
His first book, Meeting at C-Level, is the first book on the Why? of a meeting. It has been endorsed by 20 of the most influential leaders from the corporate and association worlds.
His second book, Before It’s Too Late, A Love Letter to My Daughters and America, is a story of grit, perseverance, and courage. It describes why and how he and his wife brought their daughters to America and why it is the greatest country on Earth.
Eric was the first European to serve as Chairman of the International Board of Meetings Professional International (MPI).
Connect with Eric Rozenberg
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