I was very impressed with each leader's presentation and enjoyed hearing about their experiences of both successes and failures. An observation I made, was that each of them are successful because they learned from their mistakes and failures and were determined to keep trying. There are some very valuable lessons learned when a person fails, and are usually not repeated.
They advised to be selective when choosing partners, investors, and employees. Moreover, they recommended recruiting people for their passion, expertise, and opinions. This same advice includes selection of investors; that is, choose investors that will provide a value to the company as a board member. Otherwise, they may solely be there to protect their investment. Board members should be proactively engaged and willing to challenge the CEO in order to help steer the company in the right direction.
As a CEO, it is important to have a trusting, ally type relationship with the chairman of the board. By doing this, the chairman can help prepare the board for bad news, if needed, prior to the CEO informing them.
In addition, as a leader, whether it be a CEO or some other type of leadership position, you must communicate with those you lead. This includes time of good news, bad news, or no news. By saying nothing, you are communicating something...
Openness + Honesty = Loyalty
Out the dorm window.
My own bedroom! -Dorm room
One of the leaders speaking.
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