Paul A. Murdock, CEO of MCG Consulting has amassed years of experience in the consulting industry. Entrepreneurship was always on the cards for Paul. Having led some of the top-tier firms, he felt there was a better way to conduct business. He shares, “As I spoke with previous clients and vendors, I believe I could offer a more bespoke service and bring a better team experience to each client relationship/engagement.”
Leading a large consulting practice, although rewarding in its own rights, can impose certain pressures that are outside of his personal control. Paul wanted to lead a ‘balanced life.’
He defines success as the ability to build an organization that values life balance combined with team building. He made it pivotal to incorporate those values into the ethos of his consultancy. With industry knowledge and extensive global experience, Paul is set to turn client’s challenges into opportunities. We interacted with Paul A. Murdock to get a detailed insight into his leadership journey.
Empathetic Leadership
Paul believes one of the most important traits in leadership is Empathy. He shares, “You must be able to put yourself in your client’s shoes to fully understand and appreciate their challenges and stress levels. Leadership requires patience to build and instil confidence.”
Motivating great people requires learning their interests and personal motivations. Contrary to popular belief, Paul thinks money is not a great motivator. Particular in today’s work force, with millennials, Gen Z, and diverse candidates. Their value systems are a lot more complex and differ from the “Baby Boomer” generation. Life balance and Diversity is more of a factor in their decision making.
Paul defines his approach to success as ‘intentional’. His goal is to build a “Best in Class” professional services organization
Approach To Success
Paul defines his approach to success as ‘intentional’. His goal is to build a “Best in Class” professional services organization. Speaking about his leadership approach, Paul said, “It is not about the number of clients for me, but, the relationship built with those clients. I have had stakeholders that have left organizations that have sought me out for their new organizations. I believe that is a testimony to relationship building.”
Overcoming Setbacks
Entrepreneurship is not an easy path. It comes with a series of hurdles. Reflecting upon the lessons they have learned from the challenging moments, Paul shares, “Do not count on your friends and colleagues to build your business—although you start with them, you must expand your circle. People may not understand your ‘vision’. It is your vision, but you must keep working to make it happen. Success doesn’t come easy. It’s the market that dictates the timetable of success, and not you. Moreover, when you first start, do not expect your phone to ring and people to give you business. It won’t. So, be open to new market opportunities as they present themselves.”
Staying Abreast of Industry Trends
In the ever-evolving market, businesses are always trying to catch up with the next big thing. Adapting to changes is important to survive the competition. Paul stays abreast of industry developments by actively participating in industry groups such as NSCP—National Society of Compliance Professionals and SIFMA—Securities Industry and Financial Markets Association. He is a committee member for NSCP. He has also served as a presenter at many of their and other industry conferences which help him stay abreast of recent industry trends.
Driving Innovation
In the pursuit of audacious goals, leaders take chances to drive innovation and improve their services. Paul thinks innovation to be the intersection of Market Need and Market Opportunity. First, the business identifies the market need and determines how the need can be met. Second, they start to work on a solution. At MCG, the motto is “We provide solutions”. The team works together towards achieving those standards.
When you first start, do not expect your phone to ring and people to give you business. It won’t. So, be open to new market opportunities as they present themselves.
Technological Impact
Technological evolution has taken the business world by storm. Emerging trends are sending ripples across business sector. Speaking about the biggest technological impacts in the sector, Paul said, “We believe AI will be the biggest paradigm shift—but, it is in early stages right now. Because the technology is new and, in its infancy, we are trying right now to understand it fully. More to come on that topic in the next 18-24 months.”
Fostering an Inclusive Work Culture
As a CEO, Paul believes it is important to be seen in all spaces; industry, clients and organizations. The inclusive workplace starts at the top. Being an African American male, he is keenly aware of his standing in the organization, the workplace, and the industry. MCG’s workplace manifests inclusiveness in race, gender and age.
Road Ahead
Entrepreneurs are changing the world. They are making significant strides in impacting the global community. There are countless examples of individuals who are taking the plunge into entrepreneurship and making a difference by identifying a market need and opportunity. Paul is very excited about the future of MCG Consulting LLC. The company is poised for continued growth by strategically growing the client base.
Advising the emerging business leaders, Paul shares, “My advice is to continue to believe in yourself and your vision. If you are singularly focused on your goal, you will achieve it. Get rid of the negative voices in your head and you will be successful.”
