The Busy Leader's Handbook

1Strive to Be Self-Aware and Coachable

Recently in a conversation with a venture capitalist, we were talking about the qualities he looks for when he is thinking about buying a company. I suspected that he would focus on things like profitability and growth potential. But to my surprise he put self-awareness and coachability in leaders at the top of the list.

I’ve met and worked with hundreds of leaders over the years—in hospitals, on baseball fields, in government offices, and in hotels, stores, and restaurants—and have seen what self-awareness and coachability look like in action. Organizations that encourage and nurture these two qualities in their leaders (actually, in all employees) tend to be strong, innovative, and profitable.

This should come as no surprise. Today’s business environment requires us to adapt quickly and relentlessly. That means leaders must not only be great at what they do, they also have to be great learners. “They must know what they don’t know”—and be willing to work hard to learn it.

Self-awareness means knowing what you’re good at and what you’re not. It means you don’t hide your flaws or cover up your mistakes. You don’t pretend to know it all. It means you practice humility and embrace learning. Not only do transparency and vulnerability help people like and trust you, they set the right example for other leaders and employees. When everyone is willing to take risks, learn from mistakes, and seek out opportunities to learn and grow, organizations ...