Citigroup founder Sandy Weill articulates his 10 lessons for leadership and success in business in his new book - 'The Real Deal - My Life in Business and Philanthropy'.
Here's the list:
1. Win when others lose - be flexible and resilient during times of industry stress
2. Learn together and fight together - build a team-oriented culture. Use stock incentive schemes to bring executives together.
3. Let your insecurities work for you - never ease up worrying about your business, or ease up thinking about potential risks
4. The past is not perfect, let it go -when faced with an external disruption, it's often critical not to get stuck in a rut defending past practices
5. There's nothing wrong with brand envy - companies need to look constantly for ways to improve how they meet the needs of their customers
6. Gut instincts are made, they're not inborn - leaders who amass data, process information efficiently, and have the guts to move quickly gain competitive advantage
7. Be brave, but vulnerable - always encourage colleagues to shoot holes in assumptions and discuss issues intensively
8. Losing can be a good thing - don't dwell on defeat. Usually a better opportunity will come along
9. Be a pragmatic dreamer - recognise that success comes one step at a time
10. Not-for-profit institutions offer a great personal return on investment - it's important to go beyond monetary support, and share time, skills and relationships. You can run a better private business if you help run philanthropic enterprises.
Source - 'The Real Deal - My Life in Business and Philanthropy' by Sandy Weill (Warner Brothers Books)