Financially Well Off

4 Qualities of A Great Leader That Most People Miss

Tim Tobin has coached many leaders--from first-time leaders to senior executives. He has been featured in Chief Learning Officer Magazine, Sales and Service Excellence Magazine, and numerous other academic and professional publications. He's also the author of his latest book "Peak Leadership Fitness: Elevating Your Leadership Game."

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Key Takeaways

  1. Leadership is rarely about you. To be a great leader focus on the people you're leading and adjust the way you lead for each person.
  2. Sometimes having just enough resources to take the next step is what you need to be successful.

Podcast Interview Notes:

1. As you mentioned in your book, you can't lead everyone the same way. Are there any signs or cues that you look to lead different people?

As a leader, you’ve got to be able to motivate and inspire others to get results. It requires a high degree of self-awareness.

Leadership is about listening.

Sometimes you find these cues by understanding others’ needs–other times you find out by asking. I like to get expectations up front as a leader, but also let others know what to expect from me. It could be as simple as asking how you can support your team. It’s also about ensuring that as a leader you’re setting direction and expectations of your team.

It becomes about letting your team know how they’ll be rewarded ina advanced. And, if somebody goes against it, maybe they’ll get in trouble for that. Adjust those levers and since they may change in the middle of the game. You may realize somebody needs more autonomy upfront and then later they change it and they need less.

You gotta be flexible as a leader for sure.

2.  Is there such thing as being a good follower?

Yeah, I think there are a couple of elements.

As a leader, you set a clear direction. You’ve got to inspire and motivate other people to want to follow that direction. You’ve got to give feedback to develop others and get your desired outcome.

If you look at this as a partnership, that’s where you start to get followers. If you’re willing to roll up your sleeves and put in work that’s where you’re going to get followers. Great leaders and followers are important to meet an objective since they both balance each other out.

3. What’s the best money advice you've received?

Number one is to start early.

Number two is to be patient.

There are some interesting parallels between financial fitness and leadership fitness. For example, you need to prepare yourself and know there aren’t shortcuts. Every once in a while someone may find themselves in a more advantageous scenario, but I’ve always found that luck favors the prepared mind.

They didn’t just get lucky, somehow they’d put themselves in a circumstance for good things to happen.

4. What’s worthwhile investment you’ve made in your life? (i.e. investing in coaching, investing for retirement, working at a company for free, etc.)

I would say there are two aspects of investing–growing as personally and financially.

My best financial investment was purchasing my first real estate property. I happened to be in the right place at the right time. In two years I realized a significant return, which allowed me to then get into another property.

On the personal side, my best investment has been my education. I have a doctorate in human and organizational studies. Although it sounds great it took time and money–with sacrifices along the way.

Money Round

How would you spend $1000?

I’d use $1,000 for self-development.

First, I’d have 360 assessment which would allow me to get feedback from multiple people for my strengths and weaknesses. This wouldn’t take up the full thousand, but I would start here.

What advice would you give to someone who's currently struggling with their finances and feeling hopeless?

When you’re talking about struggling with finances and feeling hopeless, you’ve got to find the root cause and make changes.

Is the cause of the struggle is it the spending? Is it the cost of living? Is it the income?

You’ve got to answer these questions to know the root cause. There were times that I couldn’t go to the ATM because I don’t think I had any money in my bank. It takes a bit of time but you gotta be proactive in making the first few steps to ultimately make progress.

What does money mean to you?

Money means two things to me. Freedom and responsibility. It gives you the freedom to make choices.

It’s the age-old question of what would you do if you won the lottery?

If money didn’t matter, would you keep working? How would you spend your time?

When money isn’t an issue anymore, you’re going to be true to yourself and do things you truly want to do. That’s where the responsibility comes in. How will you contribute to making society a better place?

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About the Author Chris

Chris writes personal finance and productivity articles for software companies. He gets fresh ideas through continuously investing in himself and interviewing successful entrepreneurs.

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