I recently saw an article on CNNMoney.com which described the best advice that 22 successful people have received during their careers. Because I'm always interested in these nuggets of wisdom, I wrote this diary to compile and summarize them.
CNNMoney.com - Best advice I ever got
In a world of uncertainty, we could all use a little advice. So we asked a host of influential leaders to share with us the wise words that changed their lives forever.
Even though I can imagine many people dismissing these words of wisdom as common sense, I found them interesting for some reason - perhaps due to their phraseology, or perhaps due to their context within a real-life story, or perhaps due to their conglomeration or juxtaposition.
- Tiger Woods: No. 1-ranked golfer
CNN summary: Keep it simple.
My summary: Focus on your goal and think for yourself how to reach it.
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When I was young, maybe 6 or 7 years old, I'd play on the Navy golf course with my pop. My dad would say, "Okay, where do you want to hit the ball?" I'd pick a spot and say I want to hit it there. He'd shrug and say, "Fine, then figure out how to do it." He didn't position my arm, adjust my feet, or change my thinking. He just said go ahead and hit the darn ball.
- Jim Sinegal: Co-founder and CEO, Costco Wholesale
CNN summary: Show, don't tell.
My summary: Teach by supervising, correcting, and showing repeatedly, as opposed to just saying something once.
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As employees, we were tested every day, and if something wasn't done properly, he'd be certain to show us how to do it. Some people believe that you should say something just once. But I think you get a message across by communicating it every day. That's why I'm always walking the floors of different Costcos and talking to employees about the tasks at hand. It's not just because I love to hear the registers ring! Sol taught me that a good manager must also be a good teacher. A lot of very bright people lose sight of that.
- Mort Zuckerman: Chairman, Boston Properties; chairman, editor-in-chief, U.S. News and World Report
CNN summary: Do what you love.
My summary: Pursue the job you want, but have a fallback plan.
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The best advice I ever got came from one of my professors at the Harvard Business School. He told a story about how George Bernard Shaw was working as a clerk in a dry-goods store in Dublin, and he decided to give himself three years to go and write plays in London. And if it didn't work out he could always go back and be a clerk in a dry-goods store.
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So I decided I was going to give myself three years to try something that I was always interested in.
- Lloyd Blankfein: Chairman and CEO, Goldman Sachs
CNN summary: Empower a subordinate.
My summary: Request and support ideas from assistants.
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When I went in to my boss for help, he asked, "What do you think we should do here?"
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I gave it my best shot. He said, "Okay, that's a good idea." It was smart of him to ask my opinion instead of telling me what to do. He knew that if my plan worked, I'd feel more confident. If it didn't work, the pressure on me would ease because he had endorsed my idea.
- Mohamed El-Erian: CEO and co-chief investment officer, Pimco
CNN summary: Push beyond your comfort zone.
My summary: Read opinions from a variety of sources with different points of view.
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We were living in Paris, back when my father was Egypt's ambassador to France. Each day we used to get at least four daily newspapers, from Le Figaro on the right side of the political spectrum to L'Humanité, which was the newspaper of the Communist Party. I remember asking my father, Why do we need four newspapers? He said to me, "Unless you read different points of view, your mind will eventually close, and you'll become a prisoner to a certain point of view that you'll never question."
- David Axelrod: Senior adviser to President Obama
CNN summary: Ignore conventional wisdom.
My summary: Ignore conventional wisdom.
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Gary Hart [the former presidential candidate from Colorado] gave me the advice over beers at the Quadrangle Club at the University of Chicago in 1987, where he had just given a speech. He said Washington was one big echo chamber of conventional wisdom clanging around. He told me, "Washington is always the last to get the news." I didn't think much about his words then, but they stuck with me and helped me later in life and in the Obama campaign. There were many times when Washington conventional wisdom wrote us off or insisted we were making suicidal mistakes.
- Tory Burch: Co-founder and creative director, Tory Burch
CNN summary: Trust your instincts.
My summary: Follow your vision, even if many say it is impractical.
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When I started my company, many people said I shouldn't launch it as a retail concept because it was too big a risk. They told me to launch as a wholesaler to test the waters -- because that was the traditional way. But Glen Senk, the CEO of Urban Outfitters and a mentor of mine who now sits on our board, told me to follow my instincts and take the risk. I wanted to create a new way of looking at retail. At the time a lot of stores were very minimalist, very clean. I wanted stores that would feel like a comfortable room in my apartment, cozy and colorful and different.
- Jim Rogers: Investor and commodities guru
CNN summary: Read everything.
My summary: Read more than your competitors in endeavors for which there is a large volume of useful information.
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I realized right away that if I just literally read a company's annual report and the notes -- or better yet, two or three years of reports -- that I would know much more than others. ... I later realized that I had to do more than just that. I learned that I had to read the annual reports of those I am investing in and their competitors' annual reports, the trade journals, and everything that I could get my hands on. But I realized that most people don't bother even doing the basic homework. And if I did even more, I'd be so far ahead that I'd probably be able to find successful investments.
- Scott Boras: Sports agent; president, Boras Corp.
CNN summary: Be effective, not popular.
My summary: Focus on the interests of your client, even though it may make you unpopular with most others.
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He said that if you are really effective at what you do, 95% of the things said about you will be negative. Keep your head on straight, don't get emotional, take the heat, and just make sure your clients are smiling.
- Mika Brzezinski: Co-host of MSNBC's Morning Joe with Joe Scarborough
CNN summary: Use failure to motivate yourself.
My summary: Be willing to go for a lower-level job than you'd like in order to be involved in the kind of work you like.
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I finally said to myself, "Get over yourself. Just get back in, even if it means a massive step backwards." So at 40 years old I got a freelance job that included doing 30-second news cut-ins on MSNBC -- a great job for someone just starting out. Then Joe [Scarborough] and I met in the hallway at MSNBC and really hit it off. Soon I was asked to be on Morning Joe with him.
- Colin Powell: Former secretary of state; retired four-star general
CNN summary: Focus on performance, not power.
My summary: Do your best at your current job, because doing your best at your current job is both necessary and beneficial for advancement.
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Throughout my career, I've always tried to do my best today, think about tomorrow, and maybe dream a bit about the future. But doing your best in the present has to be the rule. You won't become a general unless you become a good first lieutenant.
- Shai Agassi: Founder and CEO, Better Place
CNN summary: Take advice from smart people.
My summary: Describe your ideas to smart people and listen to their advice.
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When I originally pitched the idea, I suggested that the government create an agency to make it happen. I wasn't thinking about it as a company, but more as an arm of government. President Peres told me, "Agencies don't do things. Entrepreneurs do things." He said, "You have to start a company. Otherwise, this is just an idea. You have a good job, but this is a better job because you can save the world." A few days later I quit my job at SAP.
- Sukhinder Singh Cassidy: CEO-in-residence, Accel Partners
CNN summary: Make an impression.
My summary: Try to excel as soon as you start a new job, because the impression you create within the first four months has a big impact on your opportunities within the organization.
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His advice to me was to work exceptionally hard and step up from day one, despite being junior. In the first three to four months that you're in a job, you can create positive or negative momentum. I got to Merrill already hungry to prove myself and exceeded expectations; from that point on I got staffed on the better assignments and was given the opportunity to move to London. Hank's advice has always stayed with me. It's key to starting any new job because you have a few months to make a first impression, and a finite window of time to create professional momentum and start building a brand for yourself.
- Eric Schmidt: Chairman and CEO, Google
CNN summary: Hire a coach.
My summary: Hire a coach that will help you to be your best via providing advice and a different perspective.
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They have to watch you and get you to be your best. In the business context a coach is not a repetitious coach. A coach is somebody who looks at something with another set of eyes, describes it to you in [his] words, and discusses how to approach the problem.
- Meredith Whitney: Founder, Meredith Whitney Advisory Group
CNN summary: Set realistic goals.
My summary: Set realistic goals and after achieving them, set new realistic goals, as opposed to setting goals that are too challenging and thus lead to frustration.
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I've gotten a lot of really good advice, but the advice that I always go back to is something my mother told me. She said to set realistic goals, achieve them, and recalibrate your goals so that you're constantly moving forward, as opposed to setting dreamer-type goals that you're going to get frustrated by.
- Lauren Zalaznick: President, Women & Lifestyle Entertainment Networks, NBC Universal
CNN summary: Listen.
My summary: Allow others to explain their ideas fully and discuss them, even though you may already know what your decision will be.
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I was known back then as a person who made snap decisions. I got it -- I got ideas quickly. And I tended to tell people that I didn't need more information to make my decision. Jeff said to me, "Lauren, you're very smart. You're 10 steps ahead of people. Don't cut them off."
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He was right. Eventually I developed a softer touch. I've changed from a person known for making snap decisions to someone who's viewed as thoughtful and analytical. You don't have to agree with the other person, but you do need to make sure that you both understand why you disagree.
- Julian Robertson: Founder, Tiger Management
CNN summary: Don't talk shop.
My summary: Develop a good rapport and give advice sparingly, ideally giving advice only when asked.
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I found that when I ... quit pushing my views about the market on everyone ... that people came to be more interested in any advice that I might have to give. At the time I was a broker starting out, and it helped me acquire clients. I think the same thing is true as a parent with your kids. If you give advice, it's not nearly as well received as when it's asked for.
- Thomas Keller: Chef, The French Laundry, Per Se
CNN summary: Treat it like it's yours.
My summary: Do your job as if you have the biggest stake in the outcome.
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Treat it like it's yours and someday it will be. I'm not exactly sure when someone told me that, but I certainly remember the profound impact it had. Every job I had from that point on -- I was still a chef de partie at that time -- everything that came with that workstation became my responsibility. I kept my space clean, organized, and maintained ... I brought this mindset with me everywhere I went. ... Because of the way I worked and carried myself, and the quality and integrity that I was striving for, a lot of people saw certain qualities in me that they respected.
- Robin Li: CEO, Baidu
CNN summary: Underpromise and overdeliver.
My summary: Underpromise and overdeliver.
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The advice came from one of our early investors. During our first board meeting, when the company was founded, I said, "I never ran a company by myself -- what kind of advice do you have for me?" And I was told, "Underpromise and overdeliver." I took it to heart then and still rely on it today. I believe the loyalty from Baidu's customers, users, employees, and investors today is due in large part to that approach. People trust that when we set out to do something, we do it well.
- Miles White: CEO, Abbott Labs
CNN summary: Don't pursue titles and dollars.
My summary: Pursue your passion, not titles and dollars.
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If you pursue the things you believe in and have a passion for, I think everything else pretty much takes care of itself. ... I was a consultant at McKinsey almost 25 years ago, and I took a large cut in pay and left to come be a national account sales manager at Abbott. I wanted to manage people and products directly. I wanted to be somewhere where I could build a business, build people, and lead teams. I took a big cut in pay and went in search of passion. And it worked out.
- Aaron Patzer: Founder & CEO, Mint
CNN summary: Self-doubt is normal.
My summary: Keep working toward your goal, even if you have occasional bouts of self-doubt.
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For first-time entrepreneurs there's a macho attitude that you [can] never show doubt or weakness, but truth is, you face it every day. That personal admission, that self-doubt, that lack of confidence, or wild emotional swings are part of the game when you're starting a company. I probably met with 40 or 50 VCs or angel investors before I got my first "yes." I met Jeremy after 25 rejections and I wasn't yet ready to give up, but I was at a point where it was rough. Jeremy taught me that self-doubt, and even a failing in self-confidence, is perfectly normal and that all you have to do is keep trying and keep pushing through.
- Niklas Savander: Executive Vice President and General Manager, Services & Software, Nokia
CNN summary: Be nice to people.
My summary: Develop good relationships with co-workers.
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When I got my first job, my father told me, "Remember to be nice to people." You'll meet them on the way up or on the way down. You go through the good and the bad times in your career. In the end, the world functions through personal relationships. If you elbow yourself up, you'll fall harder. If you are too self-centered, you won't be successful. People don't want to work for you.
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Categories
I decided that all of the 22 pieces of advice could be grouped into 5 categories. I summarized each of the 5 categories, as follows:
My summary for category #1: Focus on your goal and avoid being distracted by methodology, conventional wisdom, and self-doubt.
1. Tiger Woods: No. 1-ranked golfer
CNN summary: Keep it simple.
My summary: Focus on your goal and think for yourself how to reach it.
6. David Axelrod: Senior adviser to President Obama
CNN summary: Ignore conventional wisdom.
My summary: Ignore conventional wisdom.
7. Tory Burch: Co-founder and creative director, Tory Burch
CNN summary: Trust your instincts.
My summary: Follow your vision, even if many say it is impractical.
21. Aaron Patzer: Founder & CEO, Mint
CNN summary: Self-doubt is normal.
My summary: Keep working toward your goal, even if you have occasional bouts of self-doubt.
My summary for category #2: Seek information and advice from a variety of good sources.
5. Mohamed El-Erian: CEO and co-chief investment officer, Pimco
CNN summary: Push beyond your comfort zone.
My summary: Read opinions from a variety of sources with different points of view.
8. Jim Rogers: Investor and commodities guru
CNN summary: Read everything.
My summary: Read more than your competitors in endeavors for which there is a large volume of useful information.
12. Shai Agassi: Founder and CEO, Better Place
CNN summary: Take advice from smart people.
My summary: Describe your ideas to smart people and listen to their advice.
14. Eric Schmidt: Chairman and CEO, Google
CNN summary: Hire a coach.
My summary: Hire a coach that will help you to be your best via providing advice and a different perspective.
My summary for category #3: Pursue your passions, even if it means taking some measured risks and making some sacrifices.
3. Mort Zuckerman: Chairman, Boston Properties; chairman, editor-in-chief, U.S. News and World Report
CNN summary: Do what you love.
My summary: Pursue the job you want, but have a fallback plan.
20. Miles White: CEO, Abbott Labs
CNN summary: Don't pursue titles and dollars.
My summary: Pursue your passion, not titles and dollars.
10. Mika Brzezinski: Co-host of MSNBC's Morning Joe with Joe Scarborough
CNN summary: Use failure to motivate yourself.
My summary: Be willing to go for a lower-level job than you'd like in order to be involved in the kind of work you like.
My summary for category #4: Do excellent work at your present job, even though you may have larger dreams.
9. Scott Boras: Sports agent; president, Boras Corp.
CNN summary: Be effective, not popular.
My summary: Focus on the interests of your client, even though it may make you unpopular with most others.
11. Colin Powell: Former secretary of state; retired four-star general
CNN summary: Focus on performance, not power.
My summary: Do your best at your current job, because doing your best at your current job is both necessary and beneficial for advancement.
15. Meredith Whitney: Founder, Meredith Whitney Advisory Group
CNN summary: Set realistic goals.
My summary: Set realistic goals and after achieving them, set new realistic goals, as opposed to setting goals that are too challenging and thus lead to frustration.
13. Sukhinder Singh Cassidy: CEO-in-residence, Accel Partners
CNN summary: Make an impression.
My summary: Try to excel as soon as you start a new job, because the impression you create within the first four months has a big impact on your opportunities within the organization.
18. Thomas Keller: Chef, The French Laundry, Per Se
CNN summary: Treat it like it's yours.
My summary: Do your job as if you have the biggest stake in the outcome.
19. Robin Li: CEO, Baidu
CNN summary: Underpromise and overdeliver.
My summary: Underpromise and overdeliver.
My summary for category #5: Work with others in a considerate way that involves an ample amount of showing and listening, but with a measured amount of telling.
2. Jim Sinegal: Co-founder and CEO, Costco Wholesale
CNN summary: Show, don't tell.
My summary: Teach by supervising, correcting, and showing repeatedly, as opposed to just saying something once.
4. Lloyd Blankfein: Chairman and CEO, Goldman Sachs
CNN summary: Empower a subordinate.
My summary: Request and support ideas from assistants.
16. Lauren Zalaznick: President, Women & Lifestyle Entertainment Networks, NBC Universal
CNN summary: Listen.
My summary: Allow others to explain their ideas fully and discuss them, even though you may already know what your decision will be.
17. Julian Robertson: Founder, Tiger Management
CNN summary: Don't talk shop.
My summary: Develop a good rapport and give advice sparingly, ideally giving advice only when asked.
22. Niklas Savander: Executive Vice President and General Manager, Services & Software, Nokia
CNN summary: Be nice to people.
My summary: Develop good relationships with co-workers.
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Comparisons between Categories
Categories:
#1) Focus on your goal and avoid being distracted by methodology, conventional wisdom, and self-doubt.
#2) Seek information and advice from a variety of good sources.
#3) Pursue your passions, even if it means taking some measured risks and making some sacrifices.
#4) Do excellent work at your present job, even though you may have larger dreams.
#5) Work with others in a considerate way that involves an ample amount of showing and listening, but with a measured amount of telling.
The #1 is advising you to clear your mind and allow yourself to creatively use your own knowledge, judgment, and intuition to reach a goal. The #2 is is advising you to absorb the knowledge, judgment, and intuition of others you trust. These seemingly contradictory ideas can be reconciled in various ways. E.g., try to carefully consider your own ideas and the ideas of other trustworthy sources, try to ignore untrustworthy sources, try not to bring in a lot of new ideas while you're in the middle of actually doing your daily work.
The #3 is advising you to seek the kind of work that is best for you, whereas #4 is advising you to do your best at the work you are currently doing.
The #5 is advice about how to work with others in order to have an enjoyable, cooperative, and productive relationship.