“Do the right thing” & “Do the thing right”

I recently completed the IFT Academy course where I thoroughly enjoyed interacting with my peers in attendance and listening to esteemed speakers. At the end I found myself reflecting on my approach to work and why I work in Restructuring.

My approach to work

One key principle for me has always been to try to lead by example. One of my favourite talks on the IFT course was by Charles Wilson who shared a slide which defined leadership as “doing the right thing” and management as “doing the thing right”. He also referenced “being yourself” and “don’t ask somebody to do something you are not willing to do yourself”. All the above points resonated strongly with me and highlighted the importance to me of i) drawing inspiration and learning best practice from those who lead by example and ii) putting into practice what you have learned for the benefit of junior colleagues.     

Another key principle is appreciating the efforts of others. On a separate talk on the IFT course, we were asked how you maximise discretionary effort from employees. I concluded that I have produced my best work for those whose investment in me had been both financial and personal. The latter involving a genuine interest in me, making my work feel valued and important, acknowledging the time and care I had put in and appreciating the sacrifices made to get to the desired outcome.

As a husband, dad and someone who has recently lost a parent, I have a far greater understanding and appreciation of what is not said and seen in the office place. A far greater understanding of how people need to juggle the competing demands of a personal life versus a complex and challenging work life. While I understand the “comes with the territory” ethos, I am also mindful that even the smallest gesture of gratitude can make a huge difference to someone.

As we progress in our careers, it is so easy to lose sight of the importance of showing appreciation in a highly time pressurised and results driven work environment. I am certainly guilty of falling into this trap and my challenge going forward is to constantly monitor this and never forget the importance of a simple “thank you”.   

Why Restructuring?

The truth is I fell into Restructuring by chance but I enjoy the puzzle-solving element of dealing with distressed scenarios, engaging with all the relevant stakeholders and the challenge of delivering an optimal solution to save jobs and maximise returns. I never clock watch as my working days consist of being met with fresh challenges and nuances as no Restructuring assignment is ever the same. Another motivation is that by specialising in the Charity, Care Home and Financial Services sectors, I have often seen my efforts have a direct positive impact on the more vulnerable.

For example, Charity Trustees primarily focus on implementing the social purpose of a charity. However, when the charity faces financial problems, the Trustees will often be ill-equipped to address these and there will be inertia to making difficult decisions. This is where I can really help by easing their burden and by finding a solution for the long-term future of the Charity. 

In some cases, there are bad actors who hide behind the shield of being FCA registered and whose misconduct result in financial hardship and misappropriated funds. It is very rewarding to generate asset recoveries to mitigate the shortfall to customers and to undertake investigation work to hold those responsible to account. 

In summary, I feel very fortunate to have spent the last 10 years at FRP working on numerous fulfilling assignments with very talented people. Moving forwards, if I continue to try to “do the right thing” and “do the thing right” while appreciating those around me (external and internal) then I am excited to see what the next ten years bring…..        

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