Would the principles that make one an effective, successful and happy individual create those same results for a company, and for society as a whole? In this absolutely terrific book on leadership, the author says that yes, indeed they would.
The following is from John A. Allison’s introduction to his recently-released, The Leadership Crisis And The Free Market Cure:
“{T}here is a set of ethical principles that is consistent with the laws of nature and the nature of humans that is the foundation for individual success and happiness. These same principles are applicable to organizations and to society.”
“The ultimate goal in life is to achieve happiness {in terms of} a life well- lived.” … “In this overall context, this is a book about leadership in the pursuit of happiness, at the individual, organization, and societal level.
“The foundation for this concept is self-leadership, which is essential for organizational leadership. Most failures of leadership are failures of self-leadership. And, most organizational failures are caused by failed leadership.”
It’s safe to say that Mr. Allison knows from whence he speaks. The prestigious Harvard Business Review named him one of the decades top 100 most successful CEOs.
More importantly, for 20 years he served as Chairman and CEO of BB&T, one of the largest financial institutions in America, growing the bank from $4.5 billion to $152 billion in assets during his tenure. And, they were hugely successful during a time when many banks failed spectacularly.
But, perhaps the banks’ huge profits came as a result of cronyism and sub-prime loans?
Actually, no. BB&T was one of the few banks that did not involve itself in sub-prime lending, writing only conventional mortgages. Mr. Allison was very outspoken against sub-prime lending, as well as cronyism in all its forms, including that between Washington, D.C. and many of the major banks.
When the bubble burst and banks were going under, he and his bank were left standing tall; not only in reputation…but in profitability, as well.
How Was This accomplished? Through rational, long-term thinking combined with a desire to provide exceptional value to customers, employees and shareholders alike.
And…by acting from a base of uncompromising values.
Now CEO of the highly-regarded libertarian think tank, Cato Institute, Allison approaches life and leadership from a very practical, logical, and rational viewpoint. He also approaches his relationships with employees and customers with an extremely benevolent, win/win mindset (as he referred to it, “getting better together”) always at the forefront.
Like the vast majority of ultra-successful people I’ve known and in this case, studied (I’ve been a fan for quite a while), he understands that happiness is the ultimate goal; that financial success is just one aspect of overall success and happiness. And, that all leadership begins with self-leadership; mastering ourselves and our character traits.
Two Distinct, But Integrated Parts
Part One, “Values in the Pursuit of Happiness” includes a chapter on each value that he deems vital and necessary to one’s successful pursuit of happiness. They were also the principles he used to lead at the bank.
They include being Reality Grounded, Reason (Objectivity), Independent Thinking, Productivity (Profitability), Honesty, Integrity, Justice, Pride, Self-Esteem (Self-Motivation) and Teamwork (Mutual Supportiveness).
According to the author, “Not only are these values not contradictory but they are integrated. Failure to execute on one value will make it impossible for you to execute on another value.”
Part Two, “Leading for Personal, Organization, and Societal Greatness” is really a Masters Degree in business leadership. That it’s told from the personal experiences of a man who has been there, done that very successfully, and is willing to share exactly how, is truly a gift. Absolutely fascinating and enlightening.
While again, logic and reason are very important to the author, his writing is warm and thoughtful, and he certainly understands the dynamics of emotion and human nature; that most people make decisions based on their emotions being in control. Yet, as he says, “Emotions are not a valid means of knowledge.”
So, how does he suggest we don’t make counterproductive decisions based on this fact?
“The goal should be to train your emotions so they automatically support the conclusions that your rational mind determined.”
Powerful!
One of my favorite points had to do with the importance of understanding the relationship of value and money, and that a business only makes money to the degree they focus on bringing value to their customers. I loved this gem:
“In the 1960’s, the CEO of General Motors announced that the mission of GM was to ‘make money.’ Shortly thereafter GM’s earnings started to decline. GM was created to make cars in a variety of price ranges and quality categories. Its real purpose is to make ‘good’ cars, and when it does this very well, it gets to make money. At BB&T our real purpose is to help our clients be financially successful and economically secure, and when we do this well, we can make money for our shareholders.”
He also warns about what he calls the “ultimate psychological sin of evasion.” This occurs when we choose not to explore what we know we should explore because we are afraid the information will not concur with our already-established views. Evasion has a dramatically negative impact on one’s happiness, as well as the success of a business or a society.
The author is very firm regarding the importance of staying focused on truth. He says, “When we evade, we are detached from reality and cannot learn or grow.” True both for individuals and for businesses. And, for society? He asks, “Do our political leaders make decisions based on reality?”
The pages of my copy of the book are filled with notes and underlines as well as starred and bracketed sentences and paragraphs. I simply cannot do this book justice in a single post. Let me suggest — if I may — that you purchase this book, read it, study it, and then buy it as a gift for all the leaders and potential leaders in your life.
There are a lot of excellent leadership books on the market and I’ve benefited from reading many of them. This one might just be the most important one yet!
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P.S. Here are just a few more gems from the book I couldn’t resist including. And I worked hard to whittle it down to just these: 🙂
“It is a significant error for a leader to promote a vision and not deliver. This is a fundamental breach of trust with the organization’s constituents.”
“The organizing principle of human action is purpose….{W}e are purpose-driven entities.”
“If your work is just ‘work,’ you are missing a lot of what life is about.”
“The ultimate societal incentive is freedom.”
“It is noteworthy that we seem to tolerate a level of dishonesty in politicians that we would not tolerate at work or with our friends.”
“It is irrational to expect someone to change his or her behavior based on nonexistent feedback.”
“The primary manner in which you earn self-esteem is by living your life with integrity and living your life consistent with your values.”
“Much of leadership is based on the ability to integrate multiple specialists to accomplish complex work that no single specialist could achieve alone.”
“Successful communities (teams) are created by voluntary mutual consent…Successful teams and communities cannot be built using force.”
“The compound self-esteem impact of working to your potential day in & day out is significant.”
“Earning money is tremendously rewarding, even if you give it all away. Earning money in a free society is a symbol of productivity and has a meaningful psychological reward. It is the earning, not the having, that is valuable.”
“Remember human flourishing — happiness — is the end of the game.”
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“The goal should be to train your emotions so they automatically support the conclusions that your rational mind determined.” Bob, if I do over and over what my rational mind knows, will emotions be trained in that way?
Amy: Thank you for your question. A big part of it is training your emotions to be happy with that decision. Remember, the chances are that if you act out of logic rather than out of emotion, you will be happier with the results. You will “feel” better about the results. This is one reason, I believe, that Dr. David Schwartz in his classic, “The Magic of Thinking Big” taught that “actions precede feelings.” So, I believe the short answer to your question is…”yes!”
What a Fantastic Book and I agree. One of the most important books written this year. Personal Growth (Leadership) is one way if not the only way to avoid evasion from reality! The concept of “evasion” is currently an epidemic effecting the country to a great degree and the only way to recover is to become true to ourselves and the values we hold. This takes personal responsibility. Take the time to read this insightful book by Mr. Allison. You won’t regret it! And thank you for the review Mr. Burg! Outstanding!!!!
Kevin: Thank you for your very wise thoughts and comments. I couldn’t agree with you more! (Please call me Bob, and thank you for your kind words about the review) 🙂
Another book to add to my Christmas list! Thanks Bob for the great review and and insights.
Keith: Thank you. My pleasure. Enjoy!
Thank you Bob. I am reading The Magic of Thinking Big tonight! 🙂 You are my super hero!
Amy: Thank YOU. You are MINE!
Wow, what a review Mr. Burg. Definitely have another book on the reading list.
What I found inspiring about the review was that this is a successful CEO who believed and lived by values; and was successful because of it and not in spite of it.
So much of what we hear in the press or otherwise about some of the wealthy is that they had one or more major flaws in values; yet people still try to emulate them.
Great reminder that just because it is not in the news doesn’t mean there aren’t real examples. Thanks Bob.
Doug (and please call me Bob): Thank you for your thoughtful feedback, as well as your very wise words. You are absolutely right on the mark! Perfectly-stated!
Bob! We are SO alike in this way! I don’t just BUY books. I MUST become ONE with my books!
Literally! (grins)
All of my favorite books our highlighted in multiple colors, underlines, AND have various notes in the margins! (nonfiction books)
In fact, because of this, I’ve had a difficult time adopting and falling in love with ebooks even though I have a kindle because I LOVE being able to hold a book in my hands and mark it up!
Sounds like an AWESOME book and one that I will have to add to my amazon ‘wishlist’ where I already have your Adversaries and Allies. Maybe I’ll purchase both together at the same time next time I place an order. I’ll let you know when I do!
Some phrases that cried out to me (and will more than likely be no surprise to you ….: )
Reality Grounded (Hallelujah!)
Reason (objectivity)
Independent Thinking
Honesty
Integrity
Justice
Teamwork
Basically, the whole list!
And EVASION! Hello! You already had me with the prior list and well…evasion is the clincher! SOLD!
: )
Samantha: As always, thank you for your always thoughtful feedback and comments. Yes, I’m not an e-book person… or even Kindle. I like to hold the books, feel the books…well, I could go on and on. LOL. So glad you enjoyed what was shared from Mr. Allison’s book. And, it was really just the tip of the iceberg. It was an amazing experience to read it and truly a lesson in success! Thanks again, Samantha!
Great review Bob! This is definitely a Must-Read for me in my own personal quest to manifested greatness. I will definitely get my copy and spread the wealth to my clients as well. Thanks for the recommendation!
A.M.: So glad you enjoyed the review. Thank you for your kind and uplifting comments! Enjoy the book!
Yes! THANK YOU!
Reading a book is a highly intimate experience for me and the e-books make it difficult to do that. I have one e-book that I purchased from one of my favorite internet women who teaches about feminine influence, etc. She has yet to turn her ebook into a REAL book and no matter how many times I open her ebook, I can’t get through it and have reread the first few chapters a half a dozen times now! And it’s NOT because it’s a boring book! Her books is VERY interesting yet I keep wanting to highlight and make notes throughout each chapter and I can’t! haha
I’d be willing to RE-PURCHASE her book if she’d also offer it in print as well as digital!
It’s THAT important to some of us who need the hands on experience.
Thanks again Bob! Great review!
Bob, I have added this to my reading wish list. Thanks for the detailed review of the high-points here. You obviously took great effort to immerse yourself in its content. Great recommendation!
Gary Campbell
Gary: Thank you for your kind feedback of the post. And, knowing you as I do (and the leader that you are!)…you’ll LOVE Mr. Allison’s book!
Dear Bob, My friend lent me the Go-Giver to read this past week. I loved it! While looking you up on the blog, I am reading the responses to The Leadership Crisis. I am loving all of them. I would be most delighted if you would consider speaking to our local hypnosis chapter which meets in the Jupiter Lighthouse Fire Station Community Room. I believe that which you are sharing would be really great information for hypnosis and other alternate care professionals to hear. Many blessings for a wonderful holiday season and with great expectations for more wonderful insights that will bless our planet in the New Year. Blessings, Gloria
Gloria: Thank you for your kind feedback regarding “The Go-Giver” and the responses to this post. So glad you are enjoying them. Regarding speaking to your local chapter, my speaking fee is usually way to cost-prohibitive, but since y’all meet less than a mile from my home, perhaps we can put something together in exchange for a group donation from your chapter to the local Furry Friends Adoption & Clinic upon which I sit on the board. Feel free to email me directly at bob @ burg dot com. Thank you again!