The Heart of the Entrepreneurial Leader with Joel Peterson
Compassion and leadership should go hand in hand and today’s guest is proof of that. Joel Peterson is a person with tremendous credentials, experience, and compassion. He is the chairman of JetBlue Airways and The Hoover Institution as well as the founding partner of Peterson Partners. Since 1992 Peterson has been on the faculty at the Graduate School of Business at Stanford University teaching courses in real estate investment, entrepreneurship, and leadership. He formally served as Chief Executive Officer of Trammel Crow Company then the world’s largest private commercial real state development firm. Peterson earned an MBA from Harvard Business School and received his Bachelor’s degree from Brigham Young University. Joel has been awarded the 2005 Distinguished Teaching Award and the 2016 Robert K. Jaedicke Silver Apple Award At Standford Graduate School of Business. Key Takeaways: [2:01] Joel shares some of his personal life and journey. [3:21] Joel confesses that teaching is the most meaningful part of his work. [3:50] Why does Joel believe in today’s business world and the need for special entrepreneurial leadership? [4:28] Leaders need to be innovators. [5:45] What are the hallmarks of an entrepreneurial leader? [6:43] Joel states the differences between an entrepreneurial leader and a political leader. [7:15] What are the qualities that a leader needs to adopt to promote durable change? [8:39] The case of congress and the challenges to adapt, change, grow, and develop. [10:10] In a two-way exchange, trust grows as well as the ability to get things done between two people actually increases. [10:59] Joel talks about the soft skills that need to be learned outside of business school. [12:45] Trust begins on the inside. [15:08] Is there a personal connection required for trust to happen? [16:15] Joel shares the meaning of integrity for him. [19:01] The importance of balance in entrepreneurs’ lives. [21:15] Joel gives his advice for creating a mission statement. [23:44] We hire people for their brains and heart. [24:55] Joel shares his own definition of compassion. [26:33] Being compassionate needs to find a balance with self-care. [27:55] The challenges for leaders who just try to deliver results. [29:31] The difference between an entrepreneurial leader and entrepreneur. [30:40] Joel gives his advice to leaders dealing with uncertainty and crisis. [31:59] Trust, mission, and teamwork are all tested during times of crisis. [32:51] Joel’s ultimate vision for his book [33:53] Lightning round. [37:30] Nate shares his top three key takeaways from an amazing conversation with Joel Peterson. Mentioned in this episode: The Compassion Mindset Peterson Partners Entrepreneurial Leadership: The Art of Launching New Ventures, Inspiring Others, and Running Stuff, Joel Peterson Joel Peterson on Twitter Tweetables: “We are now dealing with information workers, volunteers, people who have lots of options and they have to be brought together to work in teams that need to have a common mission, they have to trust one another and be led by someone with integrity.” #oncompassion #mission #integrity “Leaders have to be able to lead change and innovation as well as people.” #oncompassion #leaders #change #innovation “The entrepreneurial leader can lead to durable change.” #oncompassion #entrepreneuralleader #change “Insanity is doing the same thing repeatedly, knowing you will obtain the same result but wishing for something different.” #oncompassion #insanity #change “Integrity is reflected when what you say is what you do.” #oncompassion #integrity #dowhatyousay “A crisis is really the test for a leader.” #oncompassion #crisis #opportunity #growth #leader