The Lone Ranger, Hopalong Cassidy, and Gene Autry were the cast of TV heroes in the 1950s. Today, there are so many hero characters in video games, movies, TV, and pro sports that I couldn’t begin to list the most popular. Being a hero might seem cool, but it’s a tragic place for a leader to live.
Thomas, the CEO and owner of a very cool privately owned company, was talking about his management team when his CEO peer group asked, “Are you the smartest person on the team?”
Thomas yearned for balance in his life. He wanted to coach softball and spend more time with his family. He seemed to feel imprisoned and now he wanted freedom.
When Janis Joplin sang, “Freedom is another word for having nothing left to lose,” she came from a place of drug and alcohol addiction, but she also offered insight into the risk of forming our identity around performance. Trying to find relief through more work, alcohol, or other addictions creates a prison that misleads us into believing that escape is the only way out. As the smartest person on his management team, Thomas had created a dangerous persona for himself.
If you ask a private equity company what the purchase price would be for a company where the CEO is the brains and others are the operators, they would say X. If you ask them what that same company is worth if the CEO is just another member of the team and the other team members are smarter, they might say 2X.
Institutionalizing the creation of value always creates wealth and liberation.
Ten years ago, a company president asked me to help him develop his management group into “a high performing team”. In year two of our work, profits were increasing but he couldn’t explain why? I invited a research team from the UW Foster School of business to help us understand this change.
After collecting data for one year they reported, “The practices and values deployed through the work with the management team have resulted in organic collaboration, breaking out throughout the company, and this is producing the increased profits and growth.”
Institutionalizing value creation is always available, but never possible when the CEO plays the role of being the smartest person in the room.
Being the company hero is an onerous burden. Thomas’ longing for liberation comes from a place of wisdom, but his increasing desire to escape is the wrong move. Now he’s asking his peers for help and having more fun on the journey with them than when he was alone.
Who is helping you listen, learn, and grow? Are you having fun? I’d love to know your thoughts. Jim@peer-place.com