5 Leadership Lessons: The First Billion Is the Hardest

Now at eighty, T. Boone Pickens looks back on his past, his comeback and future in The First Billion Is the Hardest. (I don’t know about you, but I’ve found that to be so true.) He also shares a few thoughts on leadership and management:

  Leadership is the quality that transforms good intentions into positive action. It turns a group of individuals into a cohesive unit. You don’t manage people, you manage things.

  Leading people is like raising money. It’s easier to get people to give money to your cause if you dig into your own pocket first. In the same way, people tend to follow your lead if you set a good example.

  Give as many employees a stake in the business as possible. Those who have a strong financial stake in a business tend to think and act like owners.

  Encourage constant, uninhibited, and open two-way communication. I want to know what my people are hearing, reading, and thinking. If they aren’t talking to me, I’ll ask them. And they know that I listen to them. Not every conversation leads to a decision.

  Lead but also listen. A real leader never leads by fear. I develop a rapport so no one is afraid to question my opinions or decisions. They do it openly but respectfully, and I welcome it. The best way to avoid confusion, misconceptions, and disasters is to have fearless, open discussion.