The 10 commandments of effective leadership
Dan Mack, Executive Director, Mack Elevation Forum
There are more than 58,000 books sold on Amazon with the word “leadership” in the title. With so much literature available, why is the concept of leadership so misunderstood?
(Click here to view the complete Future Leaders Summit report.)
In a world where “higher value” normally refers to the shareholder and not the consumer, it’s easy to view the topic of leadership — a topic whose “answer” remains largely unsolved — with skepticism.
The first-ever Future Leaders Summit, co-produced by Mack Elevation Forum and Drug Store News in May, saw the industry speak honestly and openly about leadership with a special group of innovators, transformers and disruptors in the world of consumer brands, retailers and entrepreneurs. What they said matters. Leadership has very little to do with certified techniques and everything to do with individuality, transparency and originality.
The most effective leaders are multipliers who develop other new leaders. They embrace mentorship, and they develop talent diligently. They grow emotional intelligence. They practice deep listening.
The following 10 key takeaways from the event suggest that’s what it’s all about.
1. Story: According to Bill George, Harvard professor and former Medtronic CEO, “leadership is not about traits, it is about your life story.” Leadership is about understanding other’s stories, so you can help them thrive.
As Walmart’s Michelle Gloeckler shared, “Everything I ever learned about leadership, I initially learned as a young waitress.” It’s about serving others.
2. Share of heart: The quality of your overall leadership impact is dependent on your success in earning a high share of heart with your team and practicing deep listening. The ability to stay present with others demonstrates your commitment and allows you the vantage point to call out other people’s unique attributes. Connecting on a heart level creates trust.
3. Emotional intelligence: One’s EQ, or emotional intelligence, matters more than IQ. There is a direct relationship between how you show up and your ability to manage your own emotions and positively influence others. The best leaders are very self-aware and encourage honest assessment.
4. Purpose driven: Leaders that are led by a compelling purpose attract and retain the best talent. SoapBox CEO David Simnick noted that today’s consumer mantra is, “Don’t tell me, show me — and prove to me how much you care.” All of us — both in our professional careers, as well our personal lives — want to be involved with something bigger than ourselves.
5. Courage: Throughout his career, Massage Envy CEO Joe Magnacca has embraced risk. “In the end, we only regret the chances we didn’t take,” Magnacca advised. Be willing to fail and pick yourself up quickly. Or, according to Mark Zuckerberg, “in a world that is changing quickly, the only strategy that is guaranteed to fail is not taking risks.”
6. Diversity of thought: Ideas don’t care where they came from. Leaders who embrace broad diversity outperform teams that are monolithic. Embrace a culture that encourages the discovery of new ideas and recruits diverse-thinking — and acting — associates.
7. Transformational mindset: All of us occasionally struggle with stagnation. Transformational mindset demands that leaders are present, show empathy and give and accept “real-time” feedback. Transformational leaders are hyper-focused on vision and are skilled at recovering from failure.
8. Embrace paradox: There is no blueprint. Leaders must balance casting vision, driving results, developing talent and protecting culture. They must also be able to hold opposing views simultaneously. They are agile learners and swift agents of change.
9. Mentoring: McKesson’s Chris Dimos reminded us that being a mentor is an open invitation for leadership to flourish. The best leaders are capable of mentoring others, and are, themselves, coachable. And the best mentors have mastered non-directive questioning and coaching.
10. What is your why?: What do you stand for and who do you stand with? Fifty-nine percent of Americans say a company’s corporate social responsibility activities impact their purchase decisions. And it certainly influences whether employees choose to join a company. What you stand for as an organization — and as a leader — is as essential as the job description and the potential for long-term growth.
In closing, former Family Dollar chief merchant Jason Reiser — who last month accepted the job as COO of Vitamin Shoppe — offered 10 characteristics of today’s purpose-driven leader, including one rule borrowed from the late great Gen. George Patton: To effectively lead others, you must be comfortable walking behind them.
In this special report, Drug Store News highlights key discussion from the May 24 Future Leaders Summit and examines the best practices a host of leading companies are employing to attract, develop and retain the next generation of great business leaders.