The One Thing You Need to Know

... About Great Managing, Great Leading and Sustained Individual Success

Marcus Buckingham

• Publisher: Simon & Schuster UK
• Year: 2008
• Print ISBN: 9781416502968
• eBook ISBN: 9781847396235
• Topic: Business
• Subtopic: Business General
• Index: Business

Drawing on a wide body of research, including extensive in-depth interviews, THE ONE THING YOU NEED TO KNOW reveals the central insights that lie at the core of: Great Managing, Great Leadership and Great Careers. Buckingham uses a wealth of relevant examples to reveal that at the heart of each insight lies a controlling insight. Lose sight of this 'one thing' and all of your best efforts at managing, leading, or individual achievement will be diminished. For great managing, the controlling insight has less to do with fairness, or team building, or clear expectations (although all are important). Rather, the one thing great managers know is the need to discover and then capitalize on what is unique about each person. For leadership, the controlling insight is the opposite - discover and capitalize on what is universal to all your people, regardless of differences in personality, race, sex, or age. For sustained individual success, the controlling insight is the need to discover what you don't like doing, and know how and when to stop doing it. In every way a groundbreaking work, THE ONE THING YOU NEED TO KNOW offers crucial performance and career lessons for business people at every level.

Chapter 1

A Few Things You
Should Know About
the “One Thing”

“Get Me to the Core”

“If you dig into a subject deeply enough, what do you find?”

In one sense this book began with a conversation with Carrie Tolstedt in a hotel lobby in Los Angeles. Carrie is the head of Wells Fargo’s regional banking group, a position she has held for the last four years and in which she has been inordinately successful. As with many effective leaders, though, she is by nature self-critical. Despite the fact that she had just delivered a rousing speech to her regional managers, I was not overly surprised to find her standing off by herself looking a little dissatisfied.

“What’s up?” I said. “The speech went really well.” One always tends to offer reassurance to speakers after a speech, but in this case it was accurate. She had been speaking on the subject of customer service and how, with most banking products being a commodity in the marketplace, Wells Fargo would live or die based on the quality of its service. This message isn’t new, either for Wells Fargo or the wider business world, and in the wrong hands it can pretty quickly descend into cliché. But Carrie had managed to keep the message coherent, the stories personal, and the examples vivid and powerful. It was a good speech.

“I don’t know,” she replied. “Sometimes I’m not sure how effective these speeches really are. The regional managers will now try to pass the message on to their district managers, and inevitably it will get tweaked in some way, changed somehow. Then it’ll get changed again when the district managers pass it on to their store managers, and again when the store supervisors hear it, until, by the time it reaches the people who can really use it—our customer service reps and personal bankers—it will be significantly altered.

“Don’t get me wrong, it’s good that each level of my organization adds its own spin, but still, I sometimes think that the only way to keep this organization on the same page about customer service is to boil it down to its essence. My message should be so simple and so clear that, across all forty-three thousand employees, everyone comes to know what’s at the core.”

At the time, I think I mumbled something about being sure that her message would get through to where it mattered most, but on a subliminal level her wish—to see a subject so clearly that she could describe its essence simply, but without oversimplification—must have registered. For weeks thereafter, no matter where I went on my travels, no matter whom I was talking to, I seemed to hear the same wish: “Get me to the heart of the matter.”

Sure, the subject in question varied. Some people wanted to know the organizing principle of great management. Others were more interested in the essence of great leadership. Others asked about the driving force behind a successful career. But everywhere the wish was the same: Get me to the core.

Now, I suppose I could have chalked these wishes up to intellectual laziness. Why struggle with complex reality when you can skate by on the PowerPoint version of life instead? But this is a rather uncharitable and, in the end, unhelpful interpretation. We are all attracted to clarified versions of reality not because we are intellectually lazy, but because these versions often wind up being so useful. Take winter, spring, summer, and fall as an example. The four seasons are the PowerPoint version of the weather. Certainly they leave out a great deal of complexity, exception, and local variation, but nonetheless they’ve helped generations of farmers time their sowing and harvesting.

If there were any charges of intellectual laziness to be leveled, they probably should have been leveled at me. For seventeen years I had the good fortune to work with one of the most respected research organizations in the world, the Gallup Organization. During this time, I was given the opportunity to interview some of the world’s best leaders, managers, teachers, salespeople, stockbrokers, lawyers, and all manner of public servants. The fact that I hadn’t isolated a few core insights at the heart of great leadership, or managing, or sustained individual success didn’t mean that these insights didn’t exist. It simply meant I hadn’t yet been focused enough to get it done.

Carrie’s wish, and the many similar wishes I heard in the months following, pushed me to get focused. Since people wanted to reach down into the heart of the matter, I was, I realized, in a perfect position to help them get there. My research experiences at Gallup mostly consisted of surveying large numbers of people in the hopes of finding broad patterns in the data. Now, in my effort to get to the core, I would use this foundation as the jumping-off point for deeper, more immersive, more individualized research. I wouldn’t survey a large number of good performers. Instead I would identify one or two elite players, one or two people who, in their chosen roles and fields, had measurably, consistently, and dramatically outperformed their peers. In the end these individuals covered a wide range, from the executive who transformed a failing drug into the bestselling prescription drug in the world, the president of one of the world’s largest retailers, the customer service representative who sold more than fifteen hundred Gillette deodorants in one month, the miner who hadn’t suffered a single workplace injury in over fifty years, all the way to the screenwriter who penned such blockbusters as Jurassic Park and Spider-Man.

And having identified them, I planned to investigate the practical, seemingly banal details of their actions and their choices. Why did the executive turn down repeated promotions before taking on the challenge of turning around that failing drug? Why did the retail president invoke the memories of his working-class upbringing when defining his company’s strategy? The deodorant-selling customer service representative works the night shift. Is this relevant to her performance? One of her hobbies is weightlifting. Odd? Yes, but can it in any way explain why she is so successful so consistently? What was each of these special people actually doing that made them so very good at their role?

I have chosen to focus this deep dive on the three roles that are the most critical if you are to achieve something significant in your life and then sustain and expand this achievement, namely the roles of manager, leader, and individual performer. In part 1 of the book we focus on the two roles that underpin sustained organizational success.

What is the One Thing you need to know about great managing?

To get the best performance from your people, you have to be able to execute a number of different roles very well. You have to be able to select people effectively. You have to set expectations by defining clearly the outcomes you want. You have to motivate people by focusing on their strengths and managing around their weaknesses. And, as they challenge you to help them grow, you have to learn how to steer them toward roles that truly fit them, rather than simply promoting them up the corporate ladder.

Each of these roles involves significant subtlety and complexity. But, without denying this complexity, is there one deep insight that underpins all of these roles and that all great managers keep in the top of their minds? The chapter on great managing supplies the answer.

What is the One Thing you need to know about great leading?

When you study truly effective leaders, the first thing that strikes you is just how different they are. I could use any number of examples from today’s business world, but instead, think back to the first four presidents of the United States. Although each of them experienced great success in rallying people toward a better future, their styles could not have been more dissimilar. George Washington’s leadership style was to project an image of soundness and constancy, but he is not remembered as an inspiring visionary. In direct contrast, the second U.S. president, John Adams, was an inspiring visionary. He was so gifted a public speaker that he could hold a vociferous Congress in rapt silence for hours. However, as his struggles following the end of the Revolutionary War revealed, he was at his best only when railing against a perceived foe—which, most of the time, happened to be Great Britain.

His successor, Thomas Jefferson, did not require a foe to bring out the best in him. Sitting alone at his writing desk he could conjure compelling word pictures from the blank sheets in front of him—and yet, in contrast to Adams, he so feared public speaking that he changed the protocol so that all of his State of the Union addresses were written out and then handed to an assistant who ran down the street and delivered them to Congress.

James Madison was different again. He was a small man with a light voice who was unable to rely on inspiring word pictures to lead. Undeterred, he opted for a more pragmatic, political approach, working the floor of Congress and, one by one, building the alliances necessary to advance his agenda.

Despite these obvious differences and imperfections, each of these individuals is rightly upheld as a model of excellence in leadership. Thus, my question for the chapter on great leading is “When you study models of excellence in leadership—whether 250-year-old models or those of the present—can you look past the superficial idiosyncrasies and identify one primary insight that explains why they excel?”

In part 2 we shift our focus to sustained individual success.

What is the One Thing you need to know about sustained individual success?

During the course of your life you will inevitably be exposed to all manner of options, opportunities, and pressures. The key to sustaining success is to be able to filter all these possibilities and fasten on to those few that will allow you to express the best of yourself. But what filter should you use? Should you actively seek out experiences that will enable you to acquire a broad range of expertise, so that you have something to fall back on when one expertise become obsolete? Should you stick with a role that doesn’t suit you, thereby proving to your superiors that you are a good soldier, willing to play any role for the benefit of the team? Should you imagine that your career has distinct stages and that the filter used in the early stages should be replaced with new ones as your career progresses? Or does it all depend on what kind of career you have chosen, or even what kind of personality you have?

In chapters 5, 6, and 7, we come to grips with these questions and reveal the one insight you must never forget as you strive for sustained individual success.

A Lifetime of “Why”s

“What drove this book?”

Before we get started, a word about myself. We’re going to be in each other’s company for the next few hours (days? plane rides?), so you should probably know whom you’re dealing with. Although in one sense I owe the impetus for this book to my conversation with Carrie Tolstedt, in another sense, it was almost inevitable that at some point in my life I would sit down to write this book.

I always found the movie City Slickers a little disappointing. It wasn’t that I didn’t enjoy it—the story of three stuck-in-a-rut New Yorkers heading out to a dude ranch in the American West to learn about life and friendship and loyalty is charming, and Billy Crystal, the lead, is as hysterical as ever. No, what always bothered me about the movie was that it teases the viewer and then fails to deliver on its tease. About thirty minutes into the movie, Billy’s character is trying to engage the ranch’s trail boss, played by Jack Palance as a stone-faced loner, in a debate about the meaning of life. Disdainful of Billy’s frenetic city-boy prattle, Palance’s character, Curly, turns in the saddle to face him and holds up one finger.

“I’ll tell you the secret to life. This one thing. Just this one thing. You stick to that and everything else don’t mean s——.”

“What’s the one thing?” Billy’s character asks.

“That’s what you’ve got to figure out,” Curly replies.

Since this answer didn’t satisfy me, I sat through the entire movie in the hope of learning what the one thing really was. It wasn’t a good sign when Curly died about an hour in, but still I stuck with it, confident that a sentimental Hollywood film would never set me up so blatantly and then fail to follow through on the punch line. But it did. At the end of the movie, when Billy and his two chums are standing on the mountain top, pondering their recent daring, their life lessons learned, and Curly, the philosopher–trail boss, Billy announces that he now sees clearly the path ahead of him.

“Why?” asks one chum.

“Because I know what he meant.”

“Who?”

“Curly.” Billy holds up one finger. “I know what he meant by this.”

“What?”

Billy then proceeds to say exactly what Curly had said an hour earlier: “That’s what you’ve got to figure out.”

“I’m gonna deck you,” says his friend.

Well, my thought exactly.

“That’s what you’ve got to figure out.” What kind of an answer is that? I was holding out for something deep and meaningful and, above all, short, some pithy little phrase that I could quote around the water cooler the next day, something like Bogart’s line in Casablanca, “The problems of three little people don’t amount to a hill of beans in this crazy world,” or Laurence Fishburne’s in The Matrix, “Welcome to the desert of real” (said very slowly). I would even have settled for something akin to Ali MacGraw’s “Love means never having to say you’re sorry.” But no, all City Slickers could give me was “That’s what you’ve got to figure out.”

I suppose I have only myself to blame for expecting a summer blockbuster to deliver some deep truth, but, to be honest, I have always been attracted to the notion that beneath complex phenomena such as loyalty, or productivity, or career success, or even happy marriage, you can discover a core concept. And that armed with this core concept, you can focus your attention, see the causes more clearly, and so waste less time, be precise, make accurate predictions, and act with precision to make these predictions come true. The very idea that these core concepts exist, and can be discovered, is thrilling to me.

Many of my most vivid memor...

Table of contents

• Cover
• Copyright
• Contents
• 1 A Few Things You Should Know About the “One Thing”
• Part IThe One Thing You Need to KnowSustained Organizational Success
• 2 Managing and Leading: What’s the Difference?
• 3 The One Thing You Need to Know: Great Managing
• 4 The One Thing You Need to Know: Great Leading
• Part IIThe One Thing You Need to KnowSustained Individual Success
• 5 The Twenty Percenters
• 6 The Three Main Contenders
• 7 So, How Do You Sustain Success If…?
• Conclusion: Intentional Imbalance
• Acknowledgments
• About the Author