Everyone notices if you are taking people for granted, not showing gratitude, or stepping on others to get ahead. Be knowledgeable and well rounded. Great role models aren't just "teachers. When team members see that their role model can be many things, they will learn to stretch themselves in order to be successful.
Have humility and willingness to admit mistakes. Nobody's perfect. When you make a bad choice, let those who are watching and learning from you know that you made a mistake and how you plan to correct it. By apologizing, admitting your mistake, and accepting accountability, you will be demonstrating an often overlooked part of being a role model. Do good things outside the job. People who do the work, yet find time for good causes outside of work, such as raising money for charity, saving lives, and helping people in need get extra credit.
Commitment to a good cause implies a strong commitment to the business. True role models are those who possess the qualities that we would like to have, and those who have affected us in a way that makes us want to be better people. They help us to advocate for ourselves and take a leadership position on the issues that we believe in. We often don't recognize true role models until we have noticed our own personal growth and progress.
That really implies that it takes one to know one. Thus, if you are asking the question, that may mean you are well along the road to being that role model already. Insider logo The word "Insider". Close icon Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification. Loading Something is loading. World globe An icon of the world globe, indicating different international options. A leading-edge research firm focused on digital transformation. Redeem your free audiobook.
The former has very little prospect for driving material revenues, and the latter could become the next unicorn size startup, so it's a relatively easy decision. Which is exactly my point of this piece. It is not the jockey OR the horse. It is the jockey AND the horse. And, whatever you can do to make that happen, is the Holy Grail of venture investing. As a little fun, and to help me further illustrate this point, I took a look at some horse racing data to see if I could glean some insights on this topic.
I compared them to a typical top winning race horse in The data was pretty incredible. That is a pretty good argument for the horse. I compared them to a typical top jockey in Said another way, any of the top jockeys could have lead any of the Triple Crown horses to their wins.
Another data point speaking to the importance of the horse. But, as an entrepreneurial leader rooting for the jockey, that left me unsatisfied, so I dug a little deeper. A good argument for the jockey taking a great horse and making him even better. Chalk one up for the horse, making a jockey look better than he really was.
Based on the above examples, from both the business world and the horse racing world, there are times where the jockey is more important, and there are other times where the horse is more important for driving success. With all other things being equal, always bet on the jockey to take a good idea and make it better.
But, when the idea is so big, you have no choice but to bet on it, assuming a competent leader is in charge. But, if need be, upgrade an average entrepreneur for a proven winner, and that will be like putting gravy on top of your turkey dinner -- one that is guaranteed to fully cook and taste great in the end.
Separate your CEO hat from your chairman hat, and figure out what would truly be best for your shareholders, of which you are presumably the largest. Next Article -- shares link Add to Queue.
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Subscriber Account active since. Free subscriber-exclusive audiobook! In the beginning all businesses are just people playing out an idea. Like it or not, everyone looks to the entrepreneur as the jockey role model in a new business. In reality, nobody really expects anyone to be superhuman, but it can feel like that. We certainly wouldn't expect superhuman behavior from the people looking to us for guidance, nor would we want them to expect flawless behavior from themselves. If not flawless behavior, what characteristics and actions do they look for?
Here are some frequently mentioned ones:. Demonstrate confidence and leadership. A good role model is someone who is always positive, calm, and confident in themselves. You don't want someone who is down or tries to bring you down. Everyone likes a person who is happy with how far they have come, but continues to strive for bigger and better objectives.
Whatever you choose to do with your life, be proud of the person you've become, even if that means accepting some ridicule. You want role models who won't pretend to be someone they are not, and won't be fake just to suit other people. Communicate and interact with everyone. Good communication means listening as well as talking. People are energized by leaders who explain why and where they are going. Great role models know they have to have a consistent message, and repeat it over and over again until everyone understands.
Show respect and concern for others. You may be driven, successful, and smart but whether you choose to show respect or not speaks volumes about how other people see you. Everyone notices if you are taking people for granted, not showing gratitude, or stepping on others to get ahead. Be knowledgeable and well rounded. Great role models aren't just "teachers.
For instance, in Ackman launched the blank-check company Justice Holdings , which then went on to acquire Burger King. Still, this could describe a broad array of companies today. Companies that might or might not be under consideration include SpaceX , Bloomberg and Stripe.
At one point, Ackman admitted that he had held discussions with Stripe regarding a possible merger with Pershing Square. In other words, the Pershing Square stock could benefit from the ongoing guessing game. The value proposition presented by Pershing Square stock is interesting, to say the least. So, even with the known unknowns, the man and the stock may be worth betting on. On the date of publication, David Moadel did not have either directly or indirectly any positions in the securities mentioned in this article.
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