Be A Good Boss
- Posted by Jeff Carter
- on March 6th, 2012
In my professional life, I have been lucky to have a few great bosses. I have been lucky to be exposed to some pretty amazing people. There have been a lot of articles written about how to be a great boss. A good friend of mine, professor Mike Gibbs has written and studied extensively about labor economics within organizations. He has a pretty good handle on what makes a good leader and what doesn’t.
Many of us have been exposed to pretty stupid bosses. It taints us. Since 1986, I have been basically self employed so I haven’t had to deal with too many of them. When I was a clerk on the trading floor, I was lucky to have clerked for some decent people. I saw some pretty rotten behavior though. I vowed never to treat employees that way.
Inc says there are five qualities to being a good boss. I like them, so I will reprint them here. Click over to read the whole thing.
1. Develop every employee.
2. Deal with problems immediately.
3. Rescue your worst employee.
4. Serve others, not yourself.
5. Always remember where you came from.
My first boss out of college(1984) was Harry Toussaint. He was the branch manager of the Auto Trades Division for 3M ($MMM). You can see why 3M is such a great company. It has employees like Harry. I was full of piss and vinegar. One time I wrote a memo that I felt was so important I sent it all the way up the chain of command. Harry called me immediately. We didn’t have cell phones in those days, so you called into the branch for messages from a distributor’s phone. He said, “What the hell are you doing?”. Then he calmly explained the protocol for such messaging. Like I said, I was young and didn’t know better.
Harry talked about his entire branch. He worked to develop everyone, because he knew his bonus was reliant on all of us performing. Before Harry was in sales at 3M, he was a football coach. I don’t think he ever grew out of coaching. Instead of coaching pimply high school kids, he had a branch of about 10 type A salespeople to corral.
Interestingly, Harry had a great boss when he first was with 3M. A guy named Warren Wasecha. When I used to work trade shows at McCormick Place, I’d speak with Warren. I could tell why Harry liked him. I wanted Warren’s job when I grew up. He looked for small companies for 3M to monitor and buy. What a great job.
Anyway, we aren’t all perfect. Up there on the list of five, I might also add humility and the ability to admit when you screwed up. I think that your employees will trust you more, and work harder for you if you let them know that indeed, you are human.
I remember once Harry said to me, “I screwed that up. Now, let’s figure out together how we can make it better.” Then, when we were in front of the customer, Harry said, “Hey, this isn’t Jeff’s fault. It’s mine.”. The customer was in the palm of our hands after that. I don’t think customers hear that from their suppliers very often.
Anyway, if you are the boss, keep learning and listening. Follow the rules above to the best of your ability and you will be a great one. If you aren’t a boss, find great bosses and pick their brains on how they do what they do, and how they got to where they got. Maybe they will help you find your path there.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
-
Jeffrey Carter is an angel investor and independent trader. He specializes in turning concepts into profits. He co-founded Hyde Park Angels one of the most active angel groups in the United States in April of 2007. He previously served on the Chicago Mercantile Exchange Board of Directors. He has done market commentary for (More...) -
Archives
Tags Cloud
$100 million $BX AngelList Background check Band of Angels Beer Berlin Beverages Bowl Championship Series bozo Buffett Tax Darwin Awards Davidson College DDT Democratic Party (United States) Drinks European financing Fed Floods Freedom of the Press Friday Invasive Species Jesse Jackson Jr Jim Durham John Galt Kevin Murphy Meyer Lemons Michigan Mulled wine Politico PPC Pro-Life quentintarantino Richard M. Daley Robbie Abed Shedd Aquarium Socialism SOPA Stanford University Startup America Too big to Fail Uptick Rule Wayne Lapierre wealth World War Two Museum-
BlogRoll
-
Abnormal Returns
All Tuition
American Thinker
Andy Narayanan
Arnold Waldstein
AVC
Becker Posner Blog
Ben Horowitz Blog
Better Markets
Betting the Business
Black Line Review
BloombergTV
Both Sides of the Table
Brad Feld
Business Insider
Business News Network
Carpe Diem
CBOE
CFTC
Chicago Booth Graduate School of Business
Chicago Boyz
CityWide SuperSlow
CME Group
CNBC
CNNMoney
Cooler By The Lake
Counterpoint
Daily Economic Release Calendar
Doug Ross @ Journal
Economics of a POW Camp
Fama-French Forum
Farmgate
Fault Lines
Foundation for Families
Fox Business
Freakonomics
Garden and Gun
George Stigler Institute
Good Beer Hunting
Hayek Institute
Howard Lindzon
Huffington Post
Hyde Park Angels
ICE
Illinois College of Business
Informed Trades
Instapundit.com
Intrade
James Altucher
John Taylor's Blog
Jump Innovation
Junto Institute
Legal Issues in Angel Funding
Macroblog-Federal Reserve Bank of Atlanta
Marginal Revolution
Microbrews in Chicago
Mike And G
Milton Friedman Institute
NakedTrader
NASDAQ
National World War Two Museum
Nice Deb
Notes From Underground
NYSE
Open Markets
Pajamas Media
Pando Daily
PE Hub
Power Points
Ramanations
Ronald Coase Institute
Seatleaser News
Seatleaser.com
SEC
Senate Banking Committee
Senator Blutarsky
StockTwits
Take A Report
Tallgrass Beef
Techcrunch
The American
The Big Picture
The Clubber Fund
The Cusp
The Daily Crux
The Grumpy Economist
The Jack B Show
The Minimalist Trader
The Musings of The Big Red Car
The Polsky Center
The Streetwise Professor
Tough Love Marketing
Townhall
US Federal Reserve Bank
US House Financial Services Committee
US Treasury
Wire Points
World War Two Blog
-

