“In What You Really Need to Lead, Rob Kaplan makes a breakthrough case for leaders to embrace an ownership model. This requires a mind shift in thinking and practice but provides the potential to unlock remarkable results. This practical but radical book is a clarion call to anyone leading a complex organization today.” —DARREN WALKER, President, Ford Foundation “Rob Kaplan’s brilliant third book on leadership is his best yet. He challenges all leaders to think like owners, thus bringing that deep sense of responsibility and enterprise perspective to organizations large and small. Reading Kaplan’s book is like having a wise mentor at your side. All leaders can benefit enormously from his wisdom and advice.” —BILL GEORGE, professor, Harvard Business School; former CEO, Medtronic; and author, Discover Your True North “Every organization, whether business, governmental, or philanthropic, should insist that its entire leadership team read this book cover to cover. It is written with wisdom, punch, and color. Only Rob Kaplan, with his own leadership experience at Goldman Sachs, his mentorship of students at Harvard, and the unusual pace and clarity of his words as an author, could have delivered such a masterpiece about leadership.” —WILLIAM H. DRAPER III, cofounder and cochairman, Draper Richards Kaplan Foundation “Building a highly functioning and committed team requires opening oneself up—being vulnerable—and allowing empathy, support, and discussion to permeate. Rob Kaplan offers concrete steps for how to achieve this leadership feat. Follow his advice and you’ll undoubtedly become a stronger leader.” —R. C. BUFORD, President of Sports Franchises and San Antonio Spurs General Manager, Spurs Sports & Entertainment “What You Really Need to Lead offers a fresh view of what leadership means, as well as compelling, real-life stories and practical advice for both aspiring and seasoned leaders. If you’re wondering how to lead and make a positive difference in the world, read this book and start today.” —BARBARA BUSH, cofounder and CEO, Global Health Corps “What You Really Need to Lead is honest, direct, and filled with practical advice. I found it especially useful as an entrepreneur trying to build a culture of ownership in my growing team. It helped me understand how I could do more—and be more—by focusing on a few very tangible steps that made me a better leader.” —ZAMEER KASSAM, CEO and Chief Designer, Zameer Kassam Fine Jewelry “What You Really Need to Lead provides you with the rational evidence for introspection as a leader and empowers you to take responsibility for your actions, strengths, and weaknesses, and to understand your influence on your team. It will set you on a course for success by helping you define your and your business’s value.” —VANESSA KERRY, cofounder and CEO, Seed Global Health; Associate Director of Partnerships, Center for Global Health, Massachusetts General Hospital; faculty, Harvard Medical School WHAT YOU REALLY NEED TO LEAD The POWER of THINKING and ACTING LIKE AN OWNER ROBERT STEVEN KAPLAN Harvard Business Review Press Boston, Massachusetts HBR Press Quantity Sales Discounts Harvard Business Review Press titles are available at significant quantity discounts when purchased in bulk for client gifts, sales promotions, and premiums. Special editions, including books with corporate logos, customized covers, and letters from the company or CEO printed in the front matter, as well as excerpts of existing books, can also be created in large quantities for special needs. For details and discount information for both print and ebook formats, contact [email protected], tel. 800-988-0886, or www.hbr.org/bulksales. Copyright 2015 Robert Steven Kaplan All rights reserved 10 9 8 7 6 5 4 3 2 1 No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording, or otherwise), without the prior permission of the publisher. Requests for permission should be directed to [email protected], or mailed to Permissions, Harvard Business School Publishing, 60 Harvard Way, Boston, Massachusetts 02163. The web addresses referenced in this book were live and correct at the time of the book’s publication but may be subject to change. Kaplan, Robert Steven. What you really need to lead : the power of thinking and acting like an owner / Robert Steven Kaplan. pages cm ISBN 978-1-63369055-4 (hardback) 1. Leadership.2. Executive ability. I. Title HD57.7.K36633 2015 658.4’092—dc23 ISBN: 9781633690554 eISBN: 9781633690561 To my son, Michael Contents Introduction: Demystifying Leadership What It Really Means, How It Can Be Learned, and Why Ownership Is Essential 1. The Ownership Mind-Set The Power of Thinking and Acting Like an Owner 2. Tackling the Challenges of Leadership Making a Commitment to Learning, Asking the Right Questions, Seeking Advice, and Fighting Through Isolation 3. Mastering the Essential Processes of Leadership A Regimen for Learning How to Think and Act Like an Owner 4. You Can’t Do This Alone Learning to Build Relationships and Harness the Power of a Group 5. The Ownership Path as a Lifelong Journey Taking Steps and Making Use of Tools That Will Help You Become a Better Leader Appendix A: Essentials of What You Really Need to Lead Appendix B: A Leadership Reading List Notes Index Acknowledgments About the Author INTRODUCTION
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