LEADERSHIP: FOUR PRINCIPLES OF ENDURING SUCCESS

Published: 2007-08-07   please add a comment below

People love lists of dos and don’ts. And, why not? They often contain useful hints. And, a good example is Stadler’s article “The Four Principles of Enduring Success” (HBR July/August 2007). He follows in the footsteps of others like Jim Collins (of Built to Last and Good to Great), who analyse the performance of lots of companies and draw simple conclusions to explain why some excel and others fall behind.

Phil Rosenzweig torpedoed their methodology (McKinsey Quarterly, 2007 Number 1) with his article "The halo effect, and other managerial delusions" – see URL above. However, their findings still prompt personal reflection, as Sandler’s principles do for me in relation to a person’s leadership career.

1. Exploit before you explore. Before seeking a new job or changing the industry, role or function, in which you are building your reputation as a leader, make sure you: demonstrate a wide range of what you can do; learn all you can; and, build a sustainable network of contacts and information.

2. Diversify your business portfolio. Once that foundation is laid, broaden your challenges and career. But don’t move to a role, which is too distant from your experience and thus leaves you without any starting credibility or competence – or the support of the network, you’ve established elsewhere. And remember: in your new role (and in every new role), Principle #1 applies again.

3. Remember your mistakes. And, most importantly, learn from them. There’s nothing sadder than making the same mistake in role after role: whether it’s abusing staff, making over-hasty business decisions, or failing to build market expertise. Some mistakes are driven by deep psychological issues – often from childhood. But, take courage, and address them nonetheless.

4. Be conservative about change. Decide on your personal style and positioning and don’t change this casually. Over time, we all need to change, mature and develop gravitas. But we shouldn’t jump into every new fashion – whether of ideas, dressing or language. Successful leaders take years to build and hone a solid, recognisable persona.

A way to start thinking about what you need to do as a leader (today, but also as part of your total journey) is develop a Leadership Action Plan. And that’s what my online V|E|C|T|O|R Leadership® enables you to do. In 40 minutes, you end up with a printable plan, which will give you a basis for excelling in terms of Principle #1: Exploit before you explore.

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Dr. Timothy Pascoe AM
PhD (Cambridge), MBA (Harvard), BE & BEc (Adelaide)
Creator, V|E|C|T|O|R Leadership^®

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