Leaders to Leader

Lessons from the Great American Leaders & How They Apply Now

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If You Want to Lead… Innovate!

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Bill Gates, former CEO of Microsoft  Photo by Win McNamee/Getty Images)

Bill Gates, former CEO of Microsoft
Photo by Win McNamee/Getty Images)

“You keep innovating if you want to keep leading… Exceptional leaders cultivate the Merlin-like habit of acting in the present moment as ambassadors of a radically different future, in order to imbue their organizations with a breakthrough vision of what it is possible to achieve.” [1] Within the context of this chapter, the breadth and scope of innovations introduced in multiple areas demonstrates the great leaders’ ability to lead within their respective industries.

Bill Gates (Microsoft) asserted, “Research, I think, is the lifeblood of innovation in the economy. But big companies always have a problem taking their research and making sure it’s focused on the problems that count. And even if you make a breakthrough, do you really get that research into the products that you ship? In our industry, companies like Xerox or AT&T are famous not just for doing fairly good research, but in many cases not ever being able to bring it to the marketplace. So when we started Microsoft Research, we said, let’s make sure we’re the best case ever not only of great researchers, but getting that into products. And so events like this — where it’s almost like a festival — you come and see all the neat research advances. That’s one of the ways we make sure these groups are working like a team.” [2]

Innovation is a time-intensive process, which normally doesn’t fit into neat time blocks. Amazon is a noteworthy example. Jeff Bezos explains, “As far as time-frame is concerned, innovations at Amazon usually take 5-7 years before they make any meaningful impact on the company’s economic situation. This is a big risk and is offset in a number of ways. One is to minimize the costs of experiments. Amazon has a web lab just for that purpose, which undertakes these experiments on a massive scale, collects real usage data on what works best, and is constantly trying to push the costs of these experiments down. Again, taking a long-term view, it helps when building innovation on things that won’t change in the next 5-10 years. For Amazon, these are basic customer preferences, such as: choice, low prices, and fast.

There are three more core-attitudes, which I think have a big impact on the way innovation takes shape at Amazon. One is, to always ask the question ‘why not?’”… The biggest mistakes at Amazon come from not doing something, rather than taking the risk. And asking ‘why not?’ instead of ‘why should we do it?’ opens up a whole other universe of possibilities. Similarly, there are lot of difficult decisions that Amazon has had to make over the years, such as allowing reviews on their site. The vital question there was ’what is better for the customer?’ Last, but not least… ‘Be Stubborn on the vision, and flexible on the details.’ ” [3]

Andy Grove (Intel) made the following observations. “ ‘It is not something where you have a crystal ball to start with and you guess right,’ he emphasizes. ‘You constantly have to guide your efforts and add more ingredients – effort, money, people, undertakings, and alliances. It is partly anticipation, and partly turning that anticipation into a reality. When you have a three-to-four-year development cycle and factories that take three to four years to build and ramp up – and you add a year or two where you are making decisions about what the information technology world will want five years into the future, part of it is learned guesswork. You do your own guesswork – and then you work like hell to make your guesswork become reality… And you obviously need a whole industry to support some of this, so you turn to evangelism. And to make sure your evangelism carries weight, you invest in some [small start-up] companies to make sure you are taken seriously.” [4]

As the examples cited within this chapter clearly illustrate, innovation takes many forms. They include concept, product, process, practice and application. Each is succinctly fueled by the practice of “ruthless efficiency,” designed to improve the customer’s experience by increasing quality, efficiency and driving down costs. Most innovations were the direct result and consequence of a series of continuous improvements, sprinkled with several “Eureka!” moments. Leopold Mannes, co-developer of Kodak’s Kodachrome photographic film stated, “Invention is primarily the art of getting out of trouble.” [5] Fueled by necessity, the great leaders pioneered innovation to solve problems to leverage available opportunities, and to achieve a competitive advantage.

  1. Meyers William, Conscience in a Cup of Coffee (U.S. News, October 31, 2005)
  2.  A One-on-One Interview with Bill Gates (CNN.com, March 1, 2002)
  3.  van Wyitck Vincent, Amazon’s Jeff Bezos on Strategy & Innovation (not Kindle-related!) (Tech IT Easy, November 20, 2007)
  4.  Sheridan John H., 1997 Technology Leader of the Year Andy Grove: Building an Information Age Legacy (Industry Week, April 19-21, 2010)
  5. Brayer Elizabeth, George Eastman. A Biography (University of Rochester Press, Rochester, NY, 2006) p. 224

Related:

Building Employee Support Requires Interactive Leadership

Eight Ways Others Evaluate Trust in Leaders

Five Strategies to Build Trust

The Concept of Change Means Leaders Must Communicate

For Additional Information the Author Recommends the Following Books:

Improving Communication in the Workplace: Pinpoint Leadership Skill Development Training Series

Leadership Roles & Responsibilities: Leadership Skill Development Training Series

Improving Workplace Interaction: Pinpoint Leadership Skill Development Training Series

Negative Employee Behaviors: Pinpoint Leadership Skill Development Training Series

The Impact of Change on Individuals: Pinpoint Leadership Skill Development Training Series

Timothy F. Bednarz, Ph.D. | Author | Publisher | Majorium Business Press
Author of Great! What Makes Leaders Great: What They Did, How They Did It and What You Can Learn From It (Finalist – 2011 Foreword Reviews‘ Book of the Year)
Linkedin | Facebook | Twitter | Web| Blog | Catalog |800.654.4935 | 715.342.1018

Copyright © 2013 Timothy F. Bednarz, All Rights Reserved

Don’t Push Out Figures When Facts Are Going in the Opposite Direction

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Admiral Hyman Rickover, USN

Admiral Hyman Rickover, USN

In addition to investigating new possibilities, effective leaders tend to possess an investigative mindset. Admiral Hyman Rickover (U.S. Navy) stated,

“Sit down before the facts with an open mind. Be prepared to give up every preconceived notion. Follow humbly wherever and to whatever abyss Nature leads, or you learn nothing. Don’t push out figures when facts are going in the opposite direction.”

Peter Drucker described Alfred Sloan (General Motors) in The Effective Executive. “Sloan, was anything but an ‘intuitive’ decision-maker. He always emphasized the need to test opinions against facts and the need to make absolutely sure that one did not start out with the conclusion and then look for the facts that would support it. But he knew that the right decision demands adequate disagreement.”

Meg Whitman (eBay) noted, “My job was to uncover what was going well. I think sometimes when a new senior executive comes into a company, the instinctive thing to do is to find out what’s wrong and fix it. That doesn’t actually work very well.

People are very proud of what they’ve created, and it just feels like you are second-guessing them all the time. You are much more successful coming in and finding out what’s going right and nurturing that. Along the way, you’ll find out what’s going wrong and fix that.”

Other effective leaders used other specific techniques that were extremely beneficial and fruitful, including probing for answers. Irwin Miller (Cummins) was noted for this attribute. “He was a teacher, not by providing answers, but by asking tough questions.

On many occasions his question ‘Ten years from now, what will you wish you had done differently today?’ caused business colleagues, community leaders, friends, and family members to reassess their points of view and reach for higher goals. If you came to tell him what you had already done, he always simply asked, ‘Did you do the right thing?’ ”

Andy Grove (Intel) was also a tough questioner, with an equally strong purpose behind it. “Andy will test his staff endlessly… If someone makes a suggestion, he’ll ask, ‘How would you do that?’ Andy wants answers that are well thought out. Gut feel doesn’t cut it with him. His test is: ‘How would you implement it?’ . . . And he challenges his staff to convince him that a particular direction is the right way to go.’

In some organizations, taking such a rigorous approach and insisting that people be prepared to thoroughly defend their ideas might discourage timid subordinates from offering suggestions – and thus stifle creative thinking. But Grove insists that isn’t really an issue.

‘If it discourages you,’ he says, ‘then you probably had a poor idea that you didn’t have much confidence in – or you are the kind of person who wouldn’t execute the idea anyway. If you can’t be expected to fill out the details of your concept, how can you be expected to execute it? It is almost a test:

‘Do you really believe in your idea well enough to defend it? And, if you are given a go-ahead, will you have enough devotion to it – a serious enough commitment to it – to make it happen?’

Clearly, Andy Grove understands how to make things happen, which helps to explain why Intel has played such a major role in shaping the digital world of the future.’ ”

William Blackie (Caterpillar) used his own power of observation to investigate the facts prior to making key decisions. During the post-Second World War years, replete with growth opportunities for Caterpillar,

“Blackie didn’t make his decisions in some comfortable office. He went out in the field to see for himself and advised others to do the same – even though doing so in the postwar years wasn’t comfortable.

‘Seeing the changes and their effects creates more conviction than being told about it or reading about it,’ he told Iron Age. ‘Therefore, one of the first things I urge any interested or skeptical U.S. businessman to do is to go abroad himself to see what’s going on.’”

Excerpt: Great! What Makes Leaders Great: What They Did, How They Did It and What You Can Learn From It (Majorium Business Press, Stevens Point, WI 2011) Read a Free Chapter

Timothy F. Bednarz, Ph.D. | Author | Publisher | Majorium Business Press
Author of Great! What Makes Leaders Great: What They Did, How They Did It and What You Can Learn From It (Finalist – 2011 Foreword Reviews‘ Book of the Year)
Linkedin | Facebook | Twitter | Web| Blog | Catalog |800.654.4935 | 715.342.1018

Copyright © 2012 Timothy F. Bednarz, All Rights Reserved

Does Luck Play a Role in a Leader’s Success?

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Andrew Carnegie

Andrew Carnegie

It is often easy to attribute the success of great and influential leaders to pure luck. Undoubtedly, some turned out to be the right person in the right place at the right time. However, they also had to have the right skills and abilities to build on the opportunities presented to them.

“[Andrew] Carnegie (Carnegie Steel) was well aware that his success was in large part the result of being in the right place at the right time. Obviously, he had business and personal skills to help carry him, but Carnegie was introduced to the right industry (telegraph), where he met the right businessmen, who then introduced him to investing and the steel industry.

And this just wasn’t the steel industry that we see today. It was the steel industry in the times of America’s expansion west. Hundreds of thousands of railroad miles, a majority made from Carnegie steel.” [1]

P.T. Barnum (Ringling Brothers & Barnum Circus) noted, “There is no such thing in the world as luck. There never was a man who could go out in the morning and find a purse full of gold in the street today, and another tomorrow, and so on, day after day: He may do so once in his life; but so far as mere luck is concerned, he is as liable to lose it as to find it.

‘Like causes produce like effects.’ If a man adopts the proper methods to be successful, ‘luck’ will not prevent him. If he does not succeed, there are reasons for it, although, perhaps, he may not be able to see them.” [2]

While luck and happenstance do play varying roles, success is more attributable to creativity, hard work, foresight and preparation. Take the example of James J. Hill (Great Northern Railway) where “part of the notable accomplishment of Hill and his associates lay in simple luck…

But more important were Hill’s talents: his remarkable mastery over every detail of what was now a far-flung operation, his vision of the inevitable triumph of transcontinental through-carriers, his insufferable iron will and work ethic, and his recruitment of an able coterie of men…” [3]

Ray Kroc (McDonald’s) observed, “‘Luck is a dividend of sweat. The more you sweat, the luckier you get.’ Despite all his hard work, Kroc was not always a lucky man.

From his early days in starting up McDonald’s to even after the chain was a well-established global presence, Kroc experienced his fair share of failures. He was not immune to disappointment; what set Kroc apart from his competitors, however, was how he learned from his failures and bounced back.” [4]

For Milton Hershey (Hershey Foods), “success was not simply a matter of luck. Having learned from his past failures, he had become a shrewd and astute businessman.” [5]

The skills and characteristics the great and influential leaders employed enabled them to identify and maximize the opportunities that presented themselves. These individuals may have been lucky in being at the right place at the right time, but far more was required to capitalize upon available opportunities, which were presented to them. Many others at the same time were presented with similar opportunities.

Yet they failed to achieve similar levels of success. This was because they didn’t possess the same skills, competencies and knowledge to understand what was needed to grasp the significance of the opportunities, and the actions and practices to maximize them.

Related:

  1. Leaders Possess an Absolute Love for What They Do
  2. Did You Ever Want to Just Give Up and Quit?
  3. Do You Believe in Yourself?

References:

  1. Begley Jonathan, Book Review: Andrew Carnegie by David Nasaw (http://jonathanbegley.wordpress.com, January 5, 2010
  2. Barnum P.T., Money Getting or Golden Rules for Making Money (Self-Published)
  3. Michael P. Malone, James J. Hill – Empire Builder of the Northwest (University of Oklahoma Press – Norman 1996) p. 150
  4. Use Failure as a Catalyst for Success (greatmanagement.org, February 12, 2009)
  5. Milton S. Hershey (www.ideafinder.com)

Excerpt: Great! What Makes Leaders Great: What They Did, How They Did It and What You Can Learn From It (Majorium Business Press, Stevens Point, WI 2011) Read a Free Chapter

Timothy F. Bednarz, Ph.D. | Author | Publisher | Majorium Business Press
Author of Great! What Makes Leaders Great: What They Did, How They Did It and What You Can Learn From It (Finalist – 2011 Foreword Reviews‘ Book of the Year)
Linkedin | Facebook | Twitter | Web| Blog | Catalog |800.654.4935 | 715.342.1018

Copyright © 2012 Timothy F. Bednarz, All Rights Reserved

Written by Timothy F. Bednarz, Ph.D.

December 13, 2012 at 10:26 am

Interaction is a Necessary Component of a Vibrant Workplace

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Astute leaders guide and direct from the front lines of the company. Leaders are continually present and interacting with their employees in order to see what is slowly transforming and changing and what is causing unit frustrations. Frontline guiding and directing is a necessary process enabling leaders to apply their abilities to moving the organization forward.

There is a critical difference between the roles of a manager and a leader. While many managers are considered leaders, some not totally committed to sound leadership principles choose to direct from behind their desks. This results in relinquishing the advantage gained by immediate, firsthand knowledge of their organization’s daily activities, progress or frustrating hindrances.

Related: Four Primary Leadership Roles and Responsibilities

Ongoing interaction with employees is the active practice of visible leadership. Leaders cannot lead from their office. They must continually be in the midst of their employees, seeing for themselves what is happening and what is holding their unit back.

Frontline guiding and directing is a critical concept for leaders to understand and apply. In order for employees to be comfortable with change and transformation within their organization and the constant risk taking that goes with it, leaders must be ever present to train, direct, and reassure each individual member. They must be there to cheer every accomplishment, no matter how small. This can only be done successfully when leaders are continually involved in their employees’ daily activities.

Practical leadership demands that leaders have an active, ongoing presence within their organizational units. This presence creates a visible strength achieved through openly and consistently interacting with all employees. When leaders develop an interactive presence and work to achieve active visibility, they have the ability to fully apply their leadership skills and capabilities. Effective interaction allows leaders to:

Understand Frustrations

Only when leaders are constantly interacting with their employees can they fully understand the daily frustrations they are experiencing individually and as a group. While often minor, these frustrations serve as mini-barriers to productivity and efficiency.

Frustrations are often not known about unless a leader takes the time to observe what is actually occurring. They may be considered minor parts of the work process that employees fail to mention due to their insignificance. However, when considered collectively and cumulatively, smaller frustrations have the power to hemorrhage an organization’s productivity.

Related: The Value of Personal Experience and Expertise

Observe Firsthand What Is Occurring

Reports and meetings cannot take the place of the leader personally observing what is happening within their division or unit. A casual walkthrough does not provide sufficient opportunity to clearly observe and internalize what is actually occurring at any one point in time.

Close observation allows leaders to identify certain occurrences that produce either a positive or negative impact upon the organization. Only when leaders practice visible leadership and openly interact with their employees will a true picture of the organizational unit’s overall progression and advancement emerge. Without this firsthand insight and knowledge, leaders cannot effectually move any part of their organization forward.

Encourage Open Communication

Visible leadership and open interactivity brings leaders out of their comfort zones and away from their desks. Being an interactive leader puts them on an equal plane with their employees, which makes them much more accessible and approachable. When this occurs, employees feel more comfortable to talk about frustrations, concerns, problems and issues that may not otherwise be disclosed. This open communication directly drives the free-flow of knowledge and information that leaders need to be successful.

Related: Encourage Questions to Improve Open Communication

Provide Insight into Solutions

When leaders become fully interactive, and observe and communicate with their employees, they gain insights into existing problems. Leaders use these insights to much more easily reach solutions to the immediate and pressing problems facing their employees. Minor frustrations are quickly remedied and eliminated to minimize productivity losses.

Change transformations in any organization entail countless daily decisions. Open interaction facilitates the decision making process by encouraging employees to make cooperative or independent judgments in the name of reaching objectives and eliminating needless frustrations.

Provide Insights into Problems and Opportunities

Leaders typically have the advantage of the “macro view” of their organization. Sometimes they are focused on this larger picture to the extent that they forget they can—and should—look for and watch what is actually transpiring in their front lines. While this field of vision will vary by the level occupied in the organization, leaders do have the advantage of obtaining increased knowledge through a wider perspective that is not available to their employees.

Leaders who are active and visible in their organizations have the ability to witness what is happening and can identify potential problems and opportunities because of it. Their position often allows them to act on this knowledge to either eliminate a potential problem or tap an opportunity. In either case a frontline perspective helps leaders and employees save their company money. The only sure way to accomplish any of the above is to take full advantage of applying all the available knowledge obtained from a more “micro view” of the organization.

Related: Six Critical Issues To Consider When Solving Problems

Share in Successes and Failures

An essential role for leaders is to act as a motivator and cheerleader. While corporate leaders may not like to think of themselves as cheerleaders, the meaning goes beyond the term to the bottom line. When leaders are actively present and daily interacting with and encouraging their employees, they are in the best position to motivate and inspire them to achieve beyond expectations.

As their presence creates an impact on the organizational unit, leaders are able to share in the successes and failures of their employees as they test new ideas and concepts and help their organization adapt in the face of change. Doing this creates a bond of loyalty between leaders and employees as it steadily and securely increases the organizational unit’s cohesiveness.

Related: Motivation Is More Than Money

Excerpt: Improving Workplace Interaction: Pinpoint Leadership Skill Development Training Series (Majorium Business Press, Stevens Point, WI 2011) $ 16.95 USD

Timothy F. Bednarz, Ph.D. | Author | Publisher | Majorium Business Press
Author of Great! What Makes Leaders Great: What They Did, How They Did It and What You Can Learn From It (Finalist – 2011 Foreword Reviews‘ Book of the Year)
Linkedin | Facebook | Twitter | Web| Blog | Catalog |800.654.4935 | 715.342.1018

Copyright © 2012 Timothy F. Bednarz, All Rights Reserved

You Keep Innovating if You Want to Keep Leading

with 5 comments

“You keep innovating if you want to keep leading… Exceptional leaders cultivate the Merlin-like habit of acting in the present moment as ambassadors of a radically different future, in order to imbue their organizations with a breakthrough vision of what it is possible to achieve.” [1] Within the context of this chapter, the breadth and scope of innovations introduced in multiple areas demonstrates the great leaders’ ability to lead within their respective industries.

Bill Gates (Microsoft) asserted, “Research, I think, is the lifeblood of innovation in the economy. But big companies always have a problem taking their research and making sure it’s focused on the problems that count. And even if you make a breakthrough, do you really get that research into the products that you ship? In our industry, companies like Xerox or AT&T are famous not just for doing fairly good research, but in many cases not ever being able to bring it to the marketplace. So when we started Microsoft Research, we said, let’s make sure we’re the best case ever not only of great researchers, but getting that into products. And so events like this — where it’s almost like a festival — you come and see all the neat research advances. That’s one of the ways we make sure these groups are working like a team.” [2]

Innovation is a time-intensive process, which normally doesn’t fit into neat time blocks. Amazon is a noteworthy example. Jeff Bezos explains, “As far as time-frame is concerned, innovations at Amazon usually take 5-7 years before they make any meaningful impact on the company’s economic situation. This is a big risk and is offset in a number of ways. One is to minimize the costs of experiments. Amazon has a web lab just for that purpose, which undertakes these experiments on a massive scale, collects real usage data on what works best, and is constantly trying to push the costs of these experiments down. Again, taking a long-term view, it helps when building innovation on things that won’t change in the next 5-10 years. For Amazon, these are basic customer preferences, such as: choice, low prices, and fast.

There are three more core-attitudes, which I think have a big impact on the way innovation takes shape at Amazon. One is, to always ask the question ‘why not?’”… The biggest mistakes at Amazon come from not doing something, rather than taking the risk. And asking ‘why not?’ instead of ‘why should we do it?’ opens up a whole other universe of possibilities. Similarly, there are lot of difficult decisions that Amazon has had to make over the years, such as allowing reviews on their site. The vital question there was ’what is better for the customer?’ Last, but not least… ‘Be Stubborn on the vision, and flexible on the details.’ ” [3]

Andy Grove (Intel) made the following observations. “ ‘It is not something where you have a crystal ball to start with and you guess right,’ he emphasizes. ‘You constantly have to guide your efforts and add more ingredients – effort, money, people, undertakings, and alliances. It is partly anticipation, and partly turning that anticipation into a reality. When you have a three-to-four-year development cycle and factories that take three to four years to build and ramp up – and you add a year or two where you are making decisions about what the information technology world will want five years into the future, part of it is learned guesswork. You do your own guesswork – and then you work like hell to make your guesswork become reality… And you obviously need a whole industry to support some of this, so you turn to evangelism. And to make sure your evangelism carries weight, you invest in some [small start-up] companies to make sure you are taken seriously.” [4]

As the examples cited within this chapter clearly illustrate, innovation takes many forms. They include concept, product, process, practice and application. Each is succinctly fueled by the practice of “ruthless efficiency,” designed to improve the customer’s experience by increasing quality, efficiency and driving down costs. Most innovations were the direct result and consequence of a series of continuous improvements, sprinkled with several “Eureka!” moments. Leopold Mannes, co-developer of Kodak’s Kodachrome photographic film stated, “Invention is primarily the art of getting out of trouble.” [5] Fueled by necessity, the great leaders pioneered innovation to solve problems to leverage available opportunities, and to achieve a competitive advantage.

[1]  Meyers William, Conscience in a Cup of Coffee (U.S. News, October 31, 2005)

[2]  A One-on-One Interview with Bill Gates (CNN.com, March 1, 2002)

[3]  van Wyitck Vincent, Amazon’s Jeff Bezos on Strategy & Innovation (not Kindle-related!) (Tech IT Easy, November 20, 2007)

[4]  Sheridan John H., 1997 Technology Leader of the Year Andy Grove: Building an Information Age Legacy (Industry Week, April 19-21, 2010)

[5]  Brayer Elizabeth, George Eastman. A Biography (University of Rochester Press, Rochester, NY, 2006) p. 224

Excerpt: Great! What Makes Leaders Great: What They Did, How They Did It and What You Can Learn From It (Majorium Business Press, 2011)

If you would like to learn more about the innovation and continuous improvement exhibited by the great American leaders through their own inspiring words and stories, refer to Great! What Makes Leaders Great: What They Did, How They Did It and What You Can Learn From It. It illustrates how great leaders built great companies, and how you can apply the strategies, concepts and techniques that they pioneered to improve your own leadership skills. Click here to learn more.

Copyright © 2011 Timothy F. Bednarz, Ph.D. All rights reserved.

What Does Luck Have to Do With It?

with 4 comments

Andrew Carnegie

It is often easy to attribute the success of great and influential leaders to pure luck. Undoubtedly, some turned out to be the right person in the right place at the right time. However, they also had to have the right skills and abilities to build on the opportunities presented to them.

“[Andrew] Carnegie (Carnegie Steel) was well aware that his success was in large part the result of being in the right place at the right time. Obviously, he had business and personal skills to help carry him, but Carnegie was introduced to the right industry (telegraph), where he met the right businessmen, who then introduced him to investing and the steel industry. And this just wasn’t the steel industry that we see today. It was the steel industry in the times of America’s expansion west. Hundreds of thousands of railroad miles, a majority made from Carnegie steel.” [1]

P.T. Barnum (Ringling Brothers & Barnum Circus) noted, “There is no such thing in the world as luck. There never was a man who could go out in the morning and find a purse full of gold in the street today, and another tomorrow, and so on, day after day: He may do so once in his life; but so far as mere luck is concerned, he is as liable to lose it as to find it. ‘Like causes produce like effects.’ If a man adopts the proper methods to be successful, ‘luck’ will not prevent him. If he does not succeed, there are reasons for it, although, perhaps, he may not be able to see them.” [2]

While luck and happenstance do play varying roles, success is more attributable to creativity, hard work, foresight and preparation. Take the example of James J. Hill (Great Northern Railway) where “part of the notable accomplishment of Hill and his associates lay in simple luck… But more important were Hill’s talents: his remarkable mastery over every detail of what was now a far-flung operation, his vision of the inevitable triumph of transcontinental through-carriers, his insufferable iron will and work ethic, and his recruitment of an able coterie of men…” [3]

Ray Kroc (McDonald’s) observed, Luck is a dividend of sweat. The more you sweat, the luckier you get.’ Despite all his hard work, Kroc was not always a lucky man. From his early days in starting up McDonald’s to even after the chain was a well-established global presence, Kroc experienced his fair share of failures. He was not immune to disappointment; what set Kroc apart from his competitors, however, was how he learned from his failures and bounced back.” [4]

For Milton Hershey (Hershey Foods), success was not simply a matter of luck. Having learned from his past failures, he had become a shrewd and astute businessman.” [5]

The skills and characteristics the great and influential leaders employed enabled them to identify and maximize the opportunities that presented themselves. These individuals may have been lucky in being at the right place at the right time, but far more was required to capitalize upon available opportunities, which were presented to them. Many others at the same time were presented with similar opportunities. Yet they failed to achieve similar levels of success. This was because they didn’t possess the same skills, competencies and knowledge to understand what was needed to grasp the significance of the opportunities, and the actions and practices to maximize them.

[1]  Begley Jonathan, Book Review: Andrew Carnegie by David Nasaw (http://jonathanbegley.wordpress.com, January 5, 2010)

[2]  Barnum P.T., Money Getting or Golden Rules for Making Money (Self-Published)

[3]  Michael P. Malone, James J. Hill – Empire Builder of the Northwest (University of Oklahoma Press – Norman 1996) p. 150

[4]  Use Failure as a Catalyst for Success (greatmanagement.org, February 12, 2009)

[5]  Milton S. Hershey (www.ideafinder.com)

Excerpt: Great! What Makes Leaders Great. What They Did, How They Did It and What You Can Learn From It. (Majorium Business Press, 2011)

If you would like to learn more about role of luck and happenstance in the lives  of the great American leaders through their own inspiring words and stories, refer to Great! What Makes Leaders Great: What They Did, How They Did It and What You Can Learn From It. It illustrates how great leaders built great companies, and how you can apply the strategies, concepts and techniques that they pioneered to improve your own leadership skills. Click here to learn more.

Copyright © 2011 Timothy F. Bednarz All Rights Reserved

Written by Timothy F. Bednarz, Ph.D.

August 23, 2011 at 10:01 am

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