Taking the appropriate action isn’t always straightforward, and it may not even be apparent. Many challenging choices involve complexity and are laden with difficulties. Initially, it’s essential to ascertain your intentions behind the decision-making process and ponder whether your conclusion truly benefits the organization.
Integral to this is fostering a long-range perspective regarding your enterprise.
A key differentiator between genuine leaders and mere managers is their capacity to anticipate future challenges and prepare their teams accordingly. Your objective is to enhance the organization beyond your initial experience. You are its custodian. Strive to leave a legacy that you can be proud of.
Your aim should be to improve the organization from your initial engagement. You are entrusted with its care.
Leaders often face pressure to achieve immediate results—surpassing last quarter’s metrics and trimming excess expenses—and it’s crucial to navigate these demands effectively. However, it’s equally important to pay attention to the organization’s overall well-being and the individuals that comprise it. A leader holds responsibility for the lives of many, including investors, staff, sales professionals, and interns. It’s crucial to remain several steps ahead, consistently aiming for a sustainable and prosperous future.
That was the approach I adopted when we aimed to bring our financial services firm public during the turbulent period of the 2008-2009 financial crisis. Numerous deals surfaced that could have yielded substantial profit for me, but they would have required significant layoffs of most of our office staff. I recognized the necessity of allowing our company to chart its own course—nurturing its distinct culture while retaining operational flexibility. With 300 employees who had been with us for over 30 years, it was my duty to guide us safely through the storm.
We endured through that struggle and achieved a remarkably successful initial public offering. Today, our thriving independent company continues to expand, along with its stock value. We also preserved 2,000 jobs in the process.
I take pride in having led us to a successful IPO on our terms because it was rooted in making the right choice for all stakeholders.
When faced with tough decisions, prioritize these four leadership tenets:
- Foster an exceptional culture and nurture an environment that is stable, secure, and geared toward growth.
- Ensure the company is seen as a responsible corporate citizen, emphasizing a strong financial standing within a people-oriented atmosphere.
- Remain grounded. Understand the scope of your responsibilities and guard against letting your ego impede your leadership. Your role is to encourage growth and support the company’s long-term health.
- Practice transparency and honesty. Speak the truth even when it proves challenging.
Upholding the principle of making the right choice often results in well-founded decisions that prioritize the organization’s best interests. After all, a business should be viewed not just as an entity, but as a dynamic, thriving ecosystem composed of its people.
