In my opinion value is produced in our minds and not in a factory. And I think there are two fundamental ways of making money: you can either make desirable things, or you can make things desirable. Both can be equally profitable. The difference is not necessarily in what something is, but in the value we attach to it. The same principle applies to how we evaluate people. A big title does not make someone a good person, and not having a title does not make someone less worthy of respect. However both in our personal and professional lives, we often judge people by their position before we take the time to understand their character.

We might assume, for example, that a CEO must be wise, that a wealthy person must be successful, or that someone who graduated from a prestigious university must be intelligent. Psychologists refer to this as the Halo Effect: when one positive or impressive characteristic influences how we perceive everything else about a person.

Throughout my career, I have met people with extraordinary titles who displayed deeply disappointing behaviours. I have also met people with modest titles who demonstrated remarkable wisdom, kindness and integrity. And that experience has taught me to look beyond the title and pay closer attention to the person. How do they treat people who have less power? How do they respond when someone disagrees with them? Do they take responsibility when they make a mistake? Do their actions match their words? These are the things that tell me far more about a person than the title on their business card. Respect should never be automatic simply because of someone's position. A title tells you what position someone holds and their behaviour tells you who they are.