Friday, September 26, 2008

Tips for MBAs

Be bold. 
Be authentic.
Look at the market, see where the balls are rolling, what opportunity lies there? Do you see your destiny there?

This is a snippet of some of the wisdom and leadership philosophy Richard Fairbank, founder & CEO of Capital One - the 13th largest bank in the US - shared with us during Darden's Leadership Speaker Series this week.

Fairbank's r credit revolution is a story of true entreperneurship, taking advantage of opportunity when everybody else was doubtful. Stories like that trully inspire me so I was fully engaged in listening and I picked up some interesting points. 

A CEO will be able to delegate almost everything but one thing.
The one thing a CEO can't do without is vision.
Ok, this sounds very basic, but it's a lot more powerful coming from a person who had literaly made it. 

Hire the best people.
Ok, we know that. Everybody hires the best people don't they?
Well, you have to really put a lot of effort in getting the best people. This is where the most time and effort should be spent by leaders, according to Faribank. 

Create an environment where these best people can actually be great.

Fairbank moved on to encouraging innovation, but warned that changing buyers behavior is very difficult(though it can be done - e.g. IPod). Easier is to improve the buyers' experience.

Fairbank ended with a back to basics advice. The one our parents used to tell us and their parents told them: be loyal to yourself. The pure quest will rally up people around you more than the quest for your next promotion. 
Don't sell your soul and take the job because it pays well or because this is the cool job.
Take the job that you will learn the most from and have the most fun.

1 comment:

MechaniGal said...

Wow that must have been one hell of a talk. Wish I hadn't missed it. Some of the stuff he said reminded me of Bill Gates' speech at some school grad ceremony, I forget which one... the one where he outlined a 12 point guideline to doing a job well... will send it to you if you haven't see it already.
(Last row, 5th from the central aisle, 0 Participation points :) )

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