How can I be a billionaire? Part 2.
Four Leadership Habits from a Self-Made Billionaire
Leadership captivates David Rubenstein. In his book, How To Lead, the co-founder of the Carlyle Group conducts interviews with CEOs, business owners, and game-changers. From Indra Nooyi to Jeff Bezos, the interviews provide valuable advice for anybody who aspires to succeed.
The most useful section of the book, in my opinion, is Rubenstein's introduction since he outlines the practices that great executives in many industries possess in common. The majority of people who have accomplished great things concentrate, struggle, persevere, and convince.
1. Focus
Rubenstein advises concentrating all of your efforts on mastering a single skill or subject. Only after proving your authority and subject-matter competence can you extend your emphasis.
For instance, Indra Nooyi, the former CEO of PepsiCo, was particularly skilled at demystifying complicated concepts and clearly explaining them as she rose through the ranks of the organization. Therefore, senior managers came to Nooyi when they required someone to sift through tens of thousands of pages of competition analysis and simplify it for them.
Make a name for yourself, then widen your skill set.
2. Fail
According to Rubenstein, "Any leader has failed at something or many things." To learn from the experience, he believes, is the key.
In Rubenstein's novel, the word "fail" appears roughly forty times. Entrepreneurs and successful leaders often view failure as a badge of pride. When they make errors, they accept responsibility for them, learn from them, and then drastically improve.
Legendary Duke basketball coach "Coach K" claimed that while he was a player and then a coach at West Point, he acquired the ability to deal with disappointment and failure. "I discovered that failing was never a goal. In other words, identify your failure's cause before making changes."
You'll never attempt if you're frightened to fail. Reframe failure as a stepping stone to success instead.
3. Maintain
A radical new idea An entrepreneur is someone who takes up novel and distinctive tasks. And those who are content with the current situation will constantly oppose that person. "The trick is to persist when others say no or fight against the change you want to achieve," says Rubenstein.
When Rubenstein intended to start a private equity business in Washington, D.C., which at the time wasn't seen as a hub of financial activity, he encountered opposition. The more times I was told it couldn't be done, the more determined I became to keep working toward my goal.
The widespread perception of remote work at the beginning of the epidemic is what Rubenstein's experience makes me think about. Because of the current situation, which needed everyone to show up in the workplace, many people believed it couldn't be done effectively. Organizations took months to realize that a lot of work could be done remotely.
Any novel idea you have will run into opposition, and others will try to convince you not to pursue it. Do not be discouraged by the doubters.
4. Convince
If no one is following, it is difficult to lead, claims Rubenstein. Gaining followers takes convincing others through speaking, writing, and other forms of communication.
My "focus" areas are persuasion and communication, which are essential for success in any leadership role. The good news is that you can develop your communication skills. Additionally, learning never stops. Rubenstein claims that even at his current level of accomplishment, he is still learning "by trial and error to enhance my fundamental writing and speaking abilities."
Achievement leaves traces. You should adopt these four habits if they are the ones that the world's top CEOs, innovators, and game changers do.
The columnists for Inc.com are free to express their own views without reference to Inc.com.
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