“Success is best when it’s shared.” That’s a personal quote from Howard Schultz, executive chairman and former CEO of Starbucks.
Prudent advice can go a long way. In fact, some of the most accomplished people in business agree that good advice was the secret to their success.
In that spirit, we asked our Business Advisory Council and Investment Center Advisory Council to share their best leadership advice.
My first big boss once told me that leadership is simple, but it isn’t easy. When hard decisions need to be made it’s the leader’s job to make them, and the longer you wait the harder they get. In looking back on my own career, I see many cases where doing more and doing it sooner would have been better.
I like to tell newer leaders to remember that the organization’s interests must always come first, ahead of any group, individual or personal interest. If decisions are framed and explained in that light, there is less room for dissention or argument.
One of Zig Ziglar’s principles had significant impact on me. “People don’t care how much you know until they know how much you care.” Embracing this principle during my career has really fueled success.
Having been exposed to numerous paths to success, I’ve made it a point to try to learn from everyone and to adopt that which fits best with me. You can only be yourself, but you can optimize what you have to offer.
Advice Received
I was getting caught up in what other people were doing rather than concentrating on what I needed to accomplish. The advice given to me was, “Keep your eyes on what you need to do and worry about you. Don’t worry about what other people are doing—they aren’t paying your bills.”
Advice to Share
Check your facts three times using different sources. I learned this in my business career and in training as an accountant. If it is a calculation, look at it from three different angles and validate your answer. If it is a fact, find three sources to support your statement.
The single most important trait or attitude for successful leadership is PARTNERSHIP. In all activities, from planning (strategic as well as operational) to execution and daily behavior, take into consideration all constituencies. Involve them. Listen aggressively. In that way, you are leading not dictating.
Advice Received
In 1994, a mentor of mine at Ford Motor Company told me, “You don’t need to know everything, but you do need to know where to find information, people and resources that can help you.”
Advice to Share
Based upon the premise that “none of us is as smart as all of us,” before implementing a new process, policy or objective, be sure to obtain input from the eventual stakeholders of that action.
My journey, growing up in Austria, traveling the world and settling in the United States, has taught me to always keep an open mind and treat everyone with respect. The best leadership advice I received was from the former dean of the Business School, Thomas J. Murrin. He always reminded me that every challenge is an opportunity, that – always – “it can be done”, that we have a responsibility to make the world a better place, and – most importantly – that as leaders we are always in servitude to others and help them find their purpose.
I have always endeavored to do business with people I like, trust and admire. Executing a successful business plan is very difficult and time consuming, so you may as well do it among people you enjoy working with and spending time with.
It is impossible to inspire and lead with cynicism and skepticism. Great leaders lead by being optimists.
Leaders must be able to identify what is truly important from what is merely interesting.
The best leaders are the ones who are secure enough to take pride and highlight their subordinates’ successes.
Great leaders avoid making themselves bottlenecks and allow their lieutenants to do their jobs and have ownership of the outcomes.
Two pieces of advice have been instrumental in my career. A former boss taught me “first things first, second things second and third things third.” This has led me to improve my skills and capabilities on the most important priorities wherever I have been. The second was from my father, “Always do what is right, even if others don’t agree, so you can face yourself in the mirror each morning.” Integrity is one of the most critical components of being a successful leader.
The best advice I received was from a professor in relation to an assigned reading of Thomas Kuhn’s book, The Structure of Scientific Revolutions, for a graduate school management class. To paraphrase: “Even though you think you may have the best paradigm today, a better paradigm can and will emerge. The challenge is to not fall in love with your current paradigm and to keep your mind open to change.” Great advice for business and for life in general!
I have found that the most difficult part of leadership and progress is setting the right goals. Once you set the right goal, often after spending days, months or even years agonizing over it, it is just a matter of how much you are willing to sacrifice in order to achieve it. Anyone can achieve anything when they set their mind to it, if they are willing to do what it takes.
Leadership is the ability to speak up when others will not and listen when others are speaking up. In business, there will be times when there are conflicting views on a topic and everyone will have an opinion. You are best served by hearing all opinions before making your voice heard.
The best leaders have the ability to help build consensus when there is none. Leadership also comes when you take a minority view and fight for what you believe is the right course of action. Even if you do not gain consensus on your view, you will gain respect.
One of my best mentors encouraged me to think about business as theater. People make decisions on logical and emotional levels. Being aware of the “theater” of business (stage, scenery, props, language, and roles) should never be far from mind. Theater reinforces your message. Perhaps, it sometimes is the message.
Based on my experience as a long-term observer of the best business leaders in the world, great leaders are those who: 1) listen before they speak, 2) criticize only in a constructive (not destructive) manner, 3) lead by example more than words, and 4) personally connect with the people they lead.
I was once recruited to lead an entrepreneurial start-up and subsequent IPO exit. Elements involved recruiting 150+ staff and delivering best in class financial results. The approving Chairman posed a simple statement wrapped in sound advice: “Make sure you match the right people with the right strategy.” Success followed on-boarding this timely advice.
