“A leader is one who knows the way, goes the way, and shows the way.” – John C. Maxwell

“A leader takes people where they want to go. A great leader takes people where they don’t necessarily want to go, but ought to be.” – Rosalynn Carter

Let’s talk leadership. It’s a broad topic.

And, honestly, it can be a bit overdone.

The fact of the matter is- we won’t stop talking about it anytime soon because leadership will always exist. 

It will always be important, and we can always improve! 

Business and networking may not always require large teams of people. But whether you are a solopreneur or a CEO of a major corporation, someone is following you.

Whether it’s your example, your advice, or your encouragement, you are a leader!

And that is why I am sharing my conversation here with Dave Cote, the former CEO of Honeywell who took the company from a loss to a $100 billion power firm. 

His journey to leadership was not traditional, but he definitely had some great leadership lessons for all those in leadership at any level.

Dave Cote

I always love hearing the background of my guests on Build Your Network because I love the context it provides.

But it also helps us relate. Whether we have a similar background or not, hearing that they were once a 7 year old kid just makes us all feel a little closer, right?

But I digress…

Dave Cote was one of six kids, and the first in his family to graduate from high school. 

In the beginning, Dave described himself as the kid that “had a lot of ambition but absolutely no direction.”

His parents had always stressed the importance of going to college to their children, but when Dave got to that point in his life, he quit before he started at the University of New Hampshire so he could get started with real life!

Sound relatable? 

He almost joined the military, but due to a postponement of his swearing in, he decided against it. 

Really his young adult life was full of decisions that were purely based in survival mode. How could he make enough money to keep going.

It wasn’t until he got married and had his first child on the way, that he was “scared” into  reality. 

He knew that he was going to need to do something different to provide a better future for his family.

And I think that is one of the biggest takeaways that we can have from hearing someone’s background.

We all have that moment. That realization that is crystal clear.

Our “aha” moment, so to speak.

It’s the moment that can come from falling on hard times or from an unfulfilled expectation. But however it comes, we all have a moment where we know we need to make a change. 

It’s what we do with that moment that will determine how the rest of the story goes.

Leadership Lessons #1: Be Wary of Debt

Dave eventually went to school and got the degree that his parents had always encouraged him to get.

And even though school is not the path for everyone, one of the biggest lessons Dave did learn and wanted to pass on to others was that leaders should be wary of taking on debt.

He absolutely hated the idea of taking on debt. 

Now, let me be clear. There is definitely a time and a place for taking on necessary debt to move forward in your business and career.

But I do agree that as a general rule of thumb, a great leader looks to progress in a way that requires little to no debt!

Leadership Lessons #2: Make sure your Aptitude and Attitude align!

Dave mentioned that one of his biggest lessons he learned early in his career was that hard work does not always pay off. 

He and his buddy had bought a boat and tried to be commercial fishermen. But they soon realized they did not have what it took to be successful.

Did they enjoy it? Yes, of course!

Did they work hard at it? Definitely.

But Dave soon realized if he truly was going to provide for his family, he could not hold onto it. 

Do not let your passion cloud your reason when you are not seeing results. It may be time for a pivot!

Dave said, “If you don’t have the aptitude for something, I don’t care how good your attitude is, it’s not going to make a difference. So make sure whatever it is you decide to focus on is going to generate the results you’re looking for.”

Find something you are good at it, and that people will pay you for, and life will get a little easier.

Focus your passion there, and you will see results!

Leadership Lessons #3: Become Comfortable with the Uncomfortable

This was a big one for me when I heard it.

Leadership is all about pushing yourself further. As a leader, you set the tone for moving forward in your business, organization, or team.

Here’s an interesting thought- just because you are the leader does not mean you know everything!

And that is ok.

As a leader, remain humble in knowing that you don’t know everything.

But let that be the fire that pushes you to say, “I may not know this, but I will figure it out, or find someone who does!’

This ability to be comfortable in the uncomfortable is a superpower.

Because the first time you step out in the uncomfortable, it will be tough. You’ll feel like you are the only one out there.

But if you continue to push yourself as a leader, the easier it becomes. 

After a while, the uncomfortable will become the normal, and growth will continue!

Leadership Lessons #4: Who would you rather disappoint- yourself or your critiques?

Dave talked about his transition from finance into the CEO position. 

Initially, when he first wanted to take a jab at a leadership position, he was discouraged to do so.

So he asked himself this question: “If I’m 60 years old and I look back on this, will I be disappointed that I didn’t try, even if I might have failed?”

Whenever you are faced with a similar decision, ask yourself the same question! 

Heed wise warnings from those you trust, but if only take the advice from those you’d want to trade spots with.

Another valuable piece of leadership wisdom I learned from my friend, Chris Voss.

Leadership Lessons #5: Use Situational Leadership

Leadership is not one-size-fits-all.

If only it were! 

But Dave is a huge proponent for practicing situational leadership. 

In his leadership as CEO of TRW, Inc. he said that he did not trust his board due to the nature of his hiring and the history of their CEOs. 

He learned not to express his full opinions until he had received all the facts he needed.

It affected how he ran meetings and the way he gathered information. 

He knew that the higher up you go, the more people you have to lead, and the less information you actually have.

So he led by traveling to different locations, meeting with customers, salespeople, etc. to get a true pulse on what was going on in the company.

Very different from his leadership style at Honeywell.

He fully trusted his board. They trusted him.

There was a relationship and a rapport that was there, and it was upheld by the way he led. 

He communicated change from the top down. And he acted it out as well. 

If he said it, he would follow through. This strengthened his relationship with those he led, and it helped them take Honeywell to a multi-billion dollar company during his time there.

“Performance and visibility are what lead to people supporting you and wanting to help you out.”

Be a visible leader!

Conclusion

I don’t know about you, but I felt this interview had quite a few golden nuggets on the topic of leadership.

And I know that Honeywell is not an actual honey company, but I still think that the lessons learned from it’s former CEO are pretty sweet!

Let me know which one you resonated with the most in the comments below! And feel free to share with someone you know that is also in a leadership position.

Here’s to leaving every relationship better than we found it. See you next week!