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PM edition. Issue number 877

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Quote: Jamie Dimon, CEO JP Morgan

“The business will always run, your results will vary, but the thing that will disappoint you the most are the people you put your trust in [who let you down].” - Jamie Dimon, CEO JP Morgan

In the world of business, success is often measured by financial performance, market share, and strategic execution. However, true leadership extends beyond these metrics. It's about the relationships you build, the trust you inspire, and the people you empower to achieve great things. This is poignantly captured in a quote from Jamie Dimon, Chairman and CEO of JPMorgan Chase: "The business will always run, your results will vary, but the thing that will disappoint you the most are the people you put your trust in [who let you down]."

Dimon, a seasoned leader who has navigated countless challenges and triumphs, speaks to the profound impact that people can have on an organization. In the original interview, Dimon was reflecting on his biggest disappointments throughout his career. While acknowledging the inevitable ups and downs of business, he emphasized that the most painful setbacks were those caused misjudging people.

This quote highlights several key principles:

• Trust as a Foundation: It underscores the importance of trust as the bedrock of any successful team or organization. Without trust, communication breaks down, collaboration falters, and performance suffers.
• The Vulnerability of Leadership: It acknowledges that leaders are inherently vulnerable, as they must rely on others to execute their vision and uphold their values.
• The Sting of Disappointment: It speaks to the deep disappointment that leaders feel when their trust is betrayed, whether through incompetence, dishonesty, a lack of commitment and most especially their own bad judgement.

Dimon's message is a sobering reminder that leadership is not just about strategy and execution; it's about people. It's about carefully selecting individuals who share your values, empowering them to succeed, and holding them accountable for their actions. It's also about recognizing that even the most talented individuals can sometimes let you down, and that the ability to learn from these experiences is essential for growth. Ultimately, this quote serves as a powerful testament to the enduring importance of trust in leadership and the high cost of its betrayal.

Quote: Jamie Dimon, CEO JP Morgan

“There's a humility to being curious and learning. I still see a lot of people who don't want to get on the road, don't go to a call center, because they don't want to hear about the mistakes they're making and what they can do better from someone who is junior.” - Jamie Dimon, CEO JP Morgan

It's easy for leaders to become detached from the day-to-day realities of their organizations. However, true leadership requires a willingness to get your hands dirty, to listen to those on the front lines, and to embrace a culture of continuous learning. This is the essence of a powerful quote from Jamie Dimon, Chairman and CEO of JPMorgan Chase: "There's a humility to being curious and learning. I still see a lot of people who don't want to get in the trenches, don't go to a call center, because they don't want to hear about the mistakes they're making and what they can do better from someone who is junior."

Dimon, known for his hands-on leadership style, isn't just talking about abstract concepts. He's drawing from his own experiences of visiting branches, sitting down with tellers, and actively seeking feedback from employees at all levels. In the original interview, Dimon was discussing the importance of curiosity and how leaders can learn from those closest to the customer. He emphasized that a leader's willingness to listen, even to junior employees, is crucial for identifying areas for improvement and fostering a culture of open communication.

This quote highlights several key principles:

• Humility as a Strength: It challenges the traditional notion of leadership as a top-down, authoritative role. Instead, it emphasizes the importance of humility and a willingness to learn from others, regardless of their position.
• The Value of Frontline Insights: It recognizes that those on the front lines often have the most valuable insights into customer needs, operational inefficiencies, and potential problems.
• Creating a Culture of Open Communication: It underscores the importance of creating an environment where employees feel comfortable sharing their feedback, even if it's critical of leadership.

Dimon's message is clear: Great leaders don't hide in their offices. They get in the trenches, listen to their people, and embrace a culture of continuous learning. By doing so, they can gain a deeper understanding of their organizations, identify areas for improvement, and build stronger, more resilient teams. It's a reminder that true leadership is not about having all the answers, but about asking the right questions and being open to learning from those around you.

Quote: Jamie Dimon, CEO JP Morgan

“I think what really makes a great leader is heart, care and curiosity.” - Jamie Dimon, CEO JP Morgan

Dimon, a figure synonymous with success in the high-stakes world of finance, offers a perspective that goes beyond balance sheets and market trends. He emphasizes the importance of qualities that are often considered "soft skills," but are, in reality, the bedrock of strong leadership.

• Heart: This speaks to authenticity, passion, and a genuine commitment to the people and the mission. It's about leading with integrity and demonstrating a deep-seated belief in what you're doing.
• Care: This is about empathy, compassion, and a genuine concern for the well-being of your team. It's about creating a supportive environment where individuals feel valued, respected, and empowered to reach their full potential.
• Curiosity: This is about a thirst for knowledge, a willingness to learn, and an openness to new ideas. It's about challenging assumptions, seeking diverse perspectives, and constantly striving to improve.

These three qualities, when combined, create a powerful leadership style that resonates with people on a fundamental level. They foster trust, inspire loyalty, and drive collective success. In a world that often prioritizes metrics and outcomes, Dimon's quote serves as a valuable reminder that the most effective leaders are those who lead with their hearts, care for their people and never stop asking questions. It's a call to cultivate these qualities within ourselves and to seek them out in those we choose to follow.

Quote: Jamie Dimon, CEO JP Morgan

“When you work at certain types of things you don't like, you also learn very good things what not to do.” - Jamie Dimon, CEO JP Morgan

"When you work at certain types of things you don't like, you also learn very good things what not to do."

Who is Jamie Dimon?

For those unfamiliar, Jamie Dimon is a towering figure in the world of finance. He has led JPMorgan Chase since 2006, navigating the company through the 2008 financial crisis and building it into one of the most successful and respected financial institutions globally. Dimon is known for his sharp intellect, direct communication style, and a relentless focus on execution. He's not just a CEO; he's a leader who understands the intricacies of his business from the ground up.

The Quote and Its Significance

Dimon's quote, extracted from an interview on the "How Leaders Lead" podcast with David Novak, might seem simple on the surface, but it holds profound implications for strategy and leadership. It suggests that negative experiences – working in dysfunctional environments, dealing with ineffective processes, or witnessing poor leadership – can be incredibly valuable learning opportunities.

Think about it:

• Identifying Inefficiencies: When you're stuck in a bureaucratic organization, you gain a firsthand understanding of what slows down progress and stifles innovation.
• Recognizing Bad Management: Witnessing poor leadership helps you define the qualities you don't want to emulate and the behaviors that undermine team performance.
• Understanding What Doesn't Scale: Experiencing a business model that fails to adapt to changing market conditions teaches you the importance of agility and foresight.

Applying the Lesson

By analyzing what didn't work, we can identify potential pitfalls and develop strategies that are more resilient and effective. This involves:

• Open Dialogue: Creating a culture where team members feel comfortable sharing their observations about what's hindering progress.
• Critical Analysis: Examining past failures to understand the root causes and identify patterns.
• Proactive Planning: Developing strategies that specifically address potential weaknesses and mitigate risks.

Conclusion

Jamie Dimon's quote serves as a powerful reminder that learning is a continuous process, and that even negative experiences can provide valuable insights. By embracing these lessons and applying them strategically, we can build stronger, more resilient organizations that are better equipped to navigate the challenges of today's business environment.

Quote: Mark Twain, author

“History never repeats itself, but the Kaleidoscopic combinations of the pictured present often seem to be constructed out of the broken fragments of antique legends.” - Mark Twain, author

The quote “History never repeats itself, but the Kaleidoscopic combinations of the pictured present often seem to be constructed out of the broken fragments of antique legends.” originates from Mark Twain's 1874 novel, "The Gilded Age: A Tale of To-Day," co-authored with Charles Dudley Warner. In this work, Twain reflects on the nature of history, suggesting that while exact repetition doesn't occur, contemporary events often resemble fragmented and reassembled patterns from the past, much like a kaleidoscope rearranges pieces to form new images.

The quote may be behind the quote "History Doesn’t Repeat Itself, But it Often Rhymes" that is often misattributed to Twain.

This metaphor underscores Twain's perspective that human nature and societal behaviors create recurring themes throughout history, even if the specific circumstances differ. He observed that the "pictured present" is often a mosaic of "broken fragments" from "antique legends," implying that understanding historical patterns can provide insight into current events.

About Mark Twain:

Born Samuel Langhorne Clemens on November 30, 1835, in Florida, Missouri, Twain was the sixth of seven children. At the age of four, his family moved to Hannibal, Missouri, a port town on the Mississippi River. This locale profoundly influenced his literary work, providing the setting for classics like "The Adventures of Tom Sawyer" and "Adventures of Huckleberry Finn."

Twain's early career was diverse: he worked as a printer's apprentice, a typesetter, and later as a riverboat pilot on the Mississippi River. His experiences on the river inspired his memoir, "Life on the Mississippi." The outbreak of the Civil War ended his piloting career, leading him westward to Nevada and California, where he gained fame as a journalist and humorist. His short story, "The Celebrated Jumping Frog of Calaveras County," published in 1865, brought him national attention.

Throughout his life, Twain was known for his sharp wit, keen observations on human nature, and satirical commentary on society and politics. His works often delved into themes of human folly, social injustice, and the complexities of American life. Twain passed away on April 21, 1910, in Redding, Connecticut, leaving behind a legacy as one of America's most celebrated authors and humorists.

Quote: Bo Bennett, American entrepreneur, author and motivational speaker

“Success is not in what you have, but who you are.” - Bo Bennett, American entrepreneur, author and motivational speaker

Bo Bennett (born February 16, 1972) is known for his work in entrepreneurship, personal development, and motivational writing. He is the founder of eBookIt.com, a platform for self-publishing, and has authored several books on success, positive psychology, and business.

This specific quote reflects Bennett’s core belief that true success is not measured by material possessions but by personal growth, character, and the impact you have on others. It aligns with the broader personal development and success philosophy, which emphasizes inner fulfillment, values, and personal excellence over external wealth and status.

Key Ideas Behind the Quote:

• Character Over Possessions:

  • Bennett emphasizes that lasting success is not about accumulating wealth or material things, but about becoming a person of integrity, wisdom, and positive influence.
  • Who you become in the process of achieving your goals is more valuable than the rewards themselves.

• Internal Success vs. External Success:

  • External achievements can be temporary, but developing qualities like resilience, honesty, kindness, and self-discipline leads to lasting fulfillment.
  • This view is echoed by other thought leaders like Stephen Covey (author of The 7 Habits of Highly Effective People), who stressed character-based success over personality-based success.

• Personal Development:

  • Bennett is a strong advocate for continuous self-improvement. He believes that success is a by-product of becoming the best version of yourself.

Notable Works

• “Year to Success” (2004) – A book that offers a step-by-step approach to achieving personal and professional success over the course of a year. The quote reflects the book’s overarching message about personal growth as the foundation of success.
• “Logically Fallacious” (2012) – A guide to logical fallacies, reflecting Bennett’s interest in critical thinking and rational decision-making.

Real-Life Application

Bennett’s life embodies this principle. He built his success from the ground up, launching a multi-million-dollar software company (Archway Software) in his early 20s. However, he frequently emphasizes that his personal growth and development were more important than the financial gains.

Takeaway

The quote encourages shifting the focus from external achievements to internal growth. True success is about the person you become—your values, character, and the legacy you leave behind.

Quote: Zig Ziglar, author, salesman, and motivational speaker

“You don't have to be great to start, but you have to start to be great.” – Zig Ziglar, Author, salesman, and motivational speaker

Zig Ziglar built his career on inspiring people to achieve personal and professional success. He was known for his positive, faith-based approach to motivation, sales training, and self-development. This particular quote reflects one of Ziglar’s core beliefs about action and progress:

Key Ideas Behind the Quote:

Overcoming Perfectionism & Fear:

Many people hesitate to start something new because they feel unprepared, inadequate, or afraid of failure.
Ziglar’s message is that perfection is not a prerequisite for starting. The key is to begin—because greatness is only achieved through the process of starting and improving over time.

Action Precedes Mastery:

Success is a result of consistent effort and growth. You become great by starting, learning, and persisting.
This principle is a cornerstone of personal development and is frequently echoed in productivity and entrepreneurial advice today.

Encouragement to Take the First Step:

Ziglar believed that getting started is often the hardest part, but once a person takes that first step, momentum and confidence begin to build.
Starting imperfectly is better than not starting at all.

Ziglar’s Broader Philosophy:

This quote aligns with Ziglar’s broader teachings, which emphasize:

• Positive thinking as the foundation for success.
• Goal setting as a means to give life direction and purpose.
• Persistence and hard work as the drivers of excellence.
• Faith and values as guiding principles in personal and professional life.

Example from His Career:

Ziglar’s own journey mirrored this message. He started as a door-to-door cookware salesman in the 1940s and experienced numerous rejections and setbacks. However, he persisted, honed his sales and public speaking skills, and eventually became one of the most influential motivational speakers and authors in the world.

Notable Works:

See You at the Top (1975) – His most famous book, emphasizing self-image, goal-setting, and attitude.
Over the Top (1994) – Focuses on achieving peak performance in life and business.
Born to Win (2011) – Explores the importance of planning, preparation, and having the right attitude.

Takeaway:

The quote “You don’t have to be great to start, but you have to start to be great” encourages anyone facing self-doubt or fear of failure to take action. Greatness is not a requirement for beginning; it is the reward for starting and persevering.

Quote: Erwin McManus

“Humility is about self-awareness.” – Erwin McManus, author, speaker, and pastor

The quote “Humility is about self-awareness” is attributed to Erwin McManus, a well-known author, speaker, and pastor. McManus is the lead pastor of Mosaic Church in Los Angeles, a church recognized for its creativity, innovation, and diverse community. He is also the author of several influential books on leadership, faith, and personal development, including The Artisan Soul, The Last Arrow, and The Way of the Warrior.

Context and Meaning Behind the Quote:
This particular quote reflects a recurring theme in McManus’s work: the connection between humility, self-awareness, and personal growth. He often emphasizes that true humility is not about self-deprecation or thinking less of yourself, but about having a clear, honest understanding of who you are—your strengths, weaknesses, and the impact you have on others.

McManus argues that humility is rooted in self-awareness because it requires recognizing both your value and your limitations. People who lack self-awareness may overestimate their abilities (leading to arrogance) or underestimate their worth (leading to insecurity). True humility emerges when you see yourself accurately and are comfortable with both your strengths and your imperfections.

Broader Themes in McManus’s Teachings:

• Authenticity: He frequently encourages individuals to embrace their true selves rather than striving to meet external expectations.
• Courage: Humility requires the courage to confront your weaknesses and insecurities.
• Leadership: McManus teaches that the best leaders lead from a place of humility, which fosters trust, collaboration, and growth.

Practical Application:
When McManus says, “Humility is about self-awareness,” he is encouraging people to:

• Reflect honestly on their actions, motives, and impact on others.
• Embrace personal growth by being open to feedback and acknowledging areas for improvement.
• Avoid comparison—understanding that self-worth is not determined by being better or worse than others.

This perspective aligns with the broader leadership and personal development principle that self-awareness is foundational to growth, emotional intelligence, and effective leadership.

Related Quote from McManus:
“Humility is not about pretending to be less; it is about being honest about our strengths and weaknesses.”
(The Way of the Warrior, 2019)

Quote: Biz Stone

“Timing, perseverance, and ten years of trying will eventually make you look like an overnight success.” – Biz Stone, Co-Founder Twitter

Success rarely happens overnight. Instead, it is often the result of years of hard work, perseverance, and strategic decision-making. The quote suggests that even seemingly rapid successes can be the culmination of a long period of effort and dedication.

Key Takeaways from the Quote

Timing: The quote underscores the significance of timing in achieving success. It implies that being at the right place at the right time can make all the difference.
Perseverance: Biz Stone emphasizes the importance of perseverance in overcoming obstacles and staying committed to one's goals.
Ten Years of Trying: The quote suggests that even a decade of effort may be necessary to achieve success, highlighting the long-term nature of many successful endeavors.

Implications of the Quote

Long-Term Focus: It encourages individuals to adopt a long-term perspective and focus on making steady progress towards their objectives.
Resilience: The quote emphasizes the importance of resilience in overcoming setbacks and staying committed to one's goals.
Timing is Everything: It highlights the significance of timing in achieving success, suggesting that being at the right place at the right time can make all the difference.

Quote: Max Levchin

“Hang on tight to those who make you a better you!”
— Max Levchin, Affirm founder and CEO, Paypal founder

Max Levchin delivered a heartfelt commencement address at the University of Illinois at Urbana-Champaign in 2018, marking the 150th anniversary of the university's first class. As an alumnus, Levchin shared his journey from a Soviet Union immigrant to a successful entrepreneur, emphasizing the importance of taking risks and embracing failure. He recounted his early experiences with failed startups, highlighting how these setbacks shaped his path to co-founding PayPal. Levchin stressed that while failure is painful, it is crucial to remain human and compassionate, especially when others are affected by your decisions. He shared a poignant lesson learned from a challenging period in his career: "Failing people who trust in you, hurts a lot more than just failing yourself." This insight underscored the emotional weight of leadership and the responsibility towards those who believe in you. Levchin encouraged graduates to surround themselves with people who inspire them to be better and to take risks to discover their true selves. His speech was a call to action for the class of 2018 to embrace uncertainty and pursue their passions with resilience and integrity.