Find & Fill In Your Gaps
Sunset by Caspar David Friedrich, 1830-35 (public domain - Wikipedia)
“Every man takes the limits of his own field of vision for the limits of the world.”
None of us has all of the answers. No one is an expert in everything.
It’s why you need to surround yourself with people who have specialized knowledge and different experiences than you.
When a narcissistic leader surrounds himself with sycophants, no one will tell him he’s wrong, has a bad idea, or can’t do something. It’s a dangerous game to play.
But when a leader is willing not to be the smartest person in the room — and even goes out of their way to surround themselves with more intelligent people — they’ll be able to achieve more.
The annual letter from Warren Buffet to Berkshire Hathaway shareholders is always greatly anticipated and studied by those who admire Buffet’s leadership. Buffet dedicated the most recent letter to his late vice chairman and partner, Charlie Munger, who died in November 2023.
Warren Buffet is synonymous with Berkshire Hathaway. He’s the frontman, the genius who gets the credit for the conglomerate’s success. But it was Charlie who reset Warren’s thinking, giving him a new strategy nearly 60 years ago:
“Now that you control Berkshire, add to it wonderful businesses purchased at fair prices and give up buying fair businesses at wonderful prices.” — Charlie Munger, 1965
Accordingly, Buffet’s memorial to Munger is a simple and gracious acknowledgment of what he as a leader needed to fill a major gap:
In reality, Charlie was the “architect” of the present Berkshire, and I acted as the “general contractor” to carry out the day-by-day construction of his vision.
Charlie never sought to take credit for his role as creator but instead let me take the bows and receive the accolades. In a way his relationship with me was part older brother, part loving father. Even when he knew he was right, he gave me the reins, and when I blundered he never — never — reminded me of my mistake.
In the physical world, great buildings are linked to their architect while those who had poured the concrete or installed the windows are soon forgotten. Berkshire has become a great company. Though I have long been in charge of the construction crew; Charlie should forever be credited with being the architect.
I once consulted for a CEO who was the founder of a company. His accomplishments were many, and he continued to serve as the company’s visionary well into his tenure.
Yet he couldn’t resist getting involved in day-to-day operations, constantly meddling and tweaking, which ended up creating more complexity, confusion, and frustration. He couldn’t stand to let others take on the “contractor” roles, because he thought he knew better than anyone else — and was quick to remind them of it.
It was demoralizing to the team and it was a glaring gap in his leadership abilities — the exact opposite of what Warren described in Charlie.
The greatest irony? This CEO was a huge Warren Buffet fan, a Berkshire Hathaway shareholder, and a regular attendee of their annual meeting.
Often, we’re too close to our own issues to clearly see what else we might need. Some ways to avoid this:
Take a moment to reflect on your situation and take an inventory of yourself, noting whether or not you truly have the skills, training, and experience to address the issue at hand.
In a meeting (or email) situation, ask “Who can help out with this?” or “What ideas do others have for a better way to address this?” or “What are we missing?”
Bring in a trusted third party with expertise to make an unbiased assessment and offer advice.
The first step, though, is to acknowledge you aren’t the Oracle at Delphi. You’re a smart, talented person — one who knows your weaknesses.
And that is a strength.
There’s so much to learn,
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