Leadership in Business and Life With Dov Baron
Leadership expert Dov Baron explains what true leadership is all about in today’s business world.
- The Power of Vulnerability in Leadership
- How to Build Loyalty in Your Business
- Tips for Leading a Team that Trusts You
- The Impact of the Newest and Largest Population of the Workforce
- How to Discover Your Business’s Purpose
“LEADERSHIP IN BUSINESS AND LIFE”
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00:00 Beau Henderson: One of the things I’ve promised you from day one is to give you the tools, the resources, the strategies, and the experts to help you live that definition of a rich life. And I know a lot of us are business owners, and I couldn’t think of a better person to bring in to talk about this today, is Dov Baron. He’s a leadership catalyst. He is named by Inc Magazine as one of the top 100 leadership speakers to hire. He is the leading authority on what’s called ‘Authentic Leadership’ or what Dov likes to call it, ‘Full Monty Leadership’. So Dov, welcome to the RichLife Show. I gotta hear more about this.
00:39 Dov Baron: Thank you, Beau. Pleasure to be here. Thank you to each one and every one of your listeners who’ve tuned in, appreciate you tuning in and taking the time to listen.
00:46 Beau Henderson: Well, let’s start with there. Let’s start there. I don’t know… I gotta know. What is this idea of Full Monty leadership?
00:52 Dov Baron: Did you ever see that movie, the Full Monty?
00:53 Beau Henderson: I remember, yes.
00:55 Dov Baron: Yeah, remember it was a bunch of English lads, who were all broke, and decided to take their clothes off for money, and…
01:00 Beau Henderson: So basically, naked leadership?
01:03 Dov Baron: Well, it’s kind of like that, but please keep your clothes on, ’cause those guys actually, who did that should’ve probably kept their clothes on too.
01:12 Dov Baron: No, this is not about CEO’s stripping down naked. That would be… Might put you off your lunch. No, this is about stripping down naked from the titles. From hiding behind the status. Leadership is something that has very little to do with the title, but we see it as title. So if we strip the title away, and reveal who we are, that’s what it’s about, and it’s that kind of leadership, which is authentic leadership, really revealing who you are, that makes for what creates fierce loyalty inside an organization. Even when I work with… I work with a lot of family businesses, and it’s the same thing. People are bonded to the people their most connected with, and their most connected to the people who reveal themselves the most.
02:00 Beau Henderson: So this Full Monty leadership concept, this is a part of the newest book, Fiercely Loyal. Is that correct?
02:04 Dov Baron: That’s right. That’s exactly what it’s about. Fiercely loyal, how high performing companies develop and retain their top talent.
02:10 Beau Henderson: Excellent. Now, Dov, if I’m coming in… Because I think there’s lessons, whether we apply it to the biggest corporations or to going home with our partners in life, whatever that means. I think there’s probably some lessons that go across the board, so say you’re going into one of these companies that you work with, where do you start in helping them? Maybe do some mind shifts, because this sounds like a little bit of a different approach, where a lot of the corporate world out there, it’s very hierarchical, and it’s very title driven, and very… It sounds like you’re saying, “Let’s get down to actually building relationships.”
02:43 Dov Baron: It’s very much about relationships. In fact, there’s a chapter in the book called ‘CRO’. Whatever your title is, so if you’re a CFO, a CEO, or the CMO or any of those titles, you need another title, including if you’re the janitor. And that other title is to be the CRO, meaning Chief Relationship Officer. So It’s actually about that, it’s actually about relationships first. But where I start is this… I ask people this question. When I go in, now I’m in my 50s and I work with people who range, actually quite interestingly, from a late 20 entrepreneurial millennials right up to much older boomers. And I always ask the same question. The question is this, “What bonds people to you? How do you get people to be loyal and faithful and bonded to your organization?” And so in the older bracket, people will answer, leaders will answer, “Well, you gotta pay them right. You gotta give them a chance to raise in the ranks. Maybe a chance at the corner office.” And that is so old school. That is so not relevant to what people want today. And here’s what’s interesting about it, so here’s the question… I’ll ask you the same question, Beau, you can do it yourself.
03:53 Beau Henderson: Sure.
03:54 Dov Baron: I want you to think about somebody in your life who is a loyal friend. Okay? Now picture that person on one side of you, and on the other side of you, have a picture of somebody… Think of somebody who is an acquaintance. And tell me, what, if you just made one or two bullet points, what is the distinction between those two people? What makes one of them a loyal friend versus the other one being an acquaintance?
04:17 Beau Henderson: Let’s see. The loyal friend… We actually… They’re… In some way, they’ve added value back to me. They’re available. There’s some deeper level of relationship.
04:31 Dov Baron: There’s a deeper level of relationship, and so the specifics of that when we boil it down with people is this, people usually come up with two answers, and they say, “Well time, I’ve got more time with this person. That’s why they’re a friend.” And I say to that, “Well, that’s somewhat true, but haven’t you met somebody you have an instant friendship with?” And they’re like, “Oh, yeah, I do.” Okay. So what’s the other factor? And the other factor is trust. The level of trust that you have with that person makes them a friend versus an acquaintance. So then my question under that… See because one of the things that I speak a lot about and work with organizations on is what we call the invisible factors of the success of your business. And this is an invisible factor.
05:10 Dov Baron: So I say, “Okay. So it’s trust, what’s the invisible factor of trust?” And they go, “I have no idea.” I go, “Of course you don’t. It’s invisible.” But the invisible factor of trust is the very thing that we, particularly older people, have been trained not to do, and is the very thing we need to do in order to build trust. And that is vulnerability. As a leader, we’re told vulnerability is the worst possible thing we could have. But now when I asked you about those two people, Beau, and you think about that old friend and you talk about the investment in each other. It is that they know your crap, and you know their’s.
05:44 Beau Henderson: Right.
05:45 Dov Baron: You don’t have to hide anything from each other. It’s revealed. Is that true?
05:49 Beau Henderson: Yeah. And they’ve seen me outside… Or they know me outside that work role.
05:53 Dov Baron: And they know you outside of the title. They know you outside of the famous radio guy, the guy with the podcasts, and whatever those titles are. They know you passed all that, and they know Beau.
06:02 Beau Henderson: Right.
06:03 Dov Baron: They know Beau, the guy who likes to do X, Y, or Z. The guy who’s gone through this struggle with that, or that struggle with this. They know the real person. So, vulnerability is the invisible factor of trust. Vulnerability and trust create loyalty, and whether that’s a family business, whether that’s a marriage, whether that’s a friendship, whether that’s building a corporate culture of loyal people. So we have to embrace vulnerability, hence nakedness, hence Full Monty, like letting it all go, letting people see who you are.
06:40 Beau Henderson: Now Dov, now isn’t that interesting? That’s fascinating to me, and it makes so much sense. It’s absolutely trust is, it’s that thing that would give you influence as a leader, but it’s the one thing that, you really, there’s not a measure of that. So, it’s a hard, hard deal to swallow in a way.
06:57 Dov Baron: Well, the measure of it is, as always, is when the rubber hits the road, right? So, “Can I trust this person?” “Yeah, I think so.” Well, let’s find out. When the rubber hits the road, can you? And I can guarantee, ’cause we’ve done this for years and years, like I said before we went on air, I’ve been speaking for 31 years. And every single time, the people who step up for you are the people who have mutual, and that’s very important, reciprocity in their vulnerability with you. So, you’re open with them, they’re open with you. Every single time, those are the people who’ll be by your side.
07:29 Beau Henderson: Now Dov, is there a right way and a wrong way to express your vulnerability? I could see, there being a proper way to approach that and then not so much.
07:38 Dov Baron: Yeah, ’cause some people say, “Well, where is the line? Where’s the line here?” And it’s a great question. And so, “Does it deepen who our relationship, or does it damage it?” And that’s part of the question, and again, now we’re at subjective understanding of what that means. So for me, it’s relevance, that’s where I put the line. So, for instance, I worked with a team recently and one of the guys I was talking to privately in a one-on-one session, and he said, “You know, I’m really struggling at work right now,” And he’s like, this is a top person in a large corporation, “I’m struggling.”
08:17 Dov Baron: And I said, “Uh-huh, what’s going on?” He goes, “To be honest with you, it’s my marriage. The things I’m struggling in, in my marriage are really having impact,” And I said, “Okay.” And he said, ” So where’s this line? Do I tell ’em?” And I said, “Here’s the question, is the problems in your marriage having an impact on your business?” And he goes, “I don’t think so.” And I said, “I think you need to check.” So he did, I mean ’cause the people I work with, we have a great relationship and I challenge them to go do things. And so he checked. And of course he finds out, without saying anything about his marriage, he just finds out, “You know, yeah, I noticed you’re a bit off and I noticed… ” I said, “It’s impacting your marriage… That your marriage rather, is impacting your work. So, yes, it’s relevant.”
09:00 Dov Baron: So I said, “Now, with real team members, with the people you have that kind of loyalty to, you step up and you go, listen, let me be really honest, let me be really truthful here, so that nobody is guessing and nobody feels like I’m picking on them. ‘Cause here’s the truth, I’m struggling right now. I’ve got some personal things going on in my marriage, it’s not about you, it’s not about this company, it’s not about the goals, it’s not about what you are achieving or not achieving, and this is where I’m coming from. I need your help and I need your support, not in my marriage, but here at work. And I just wanna bring you all in underneath the covers to see what’s really going on, this is what it is.” And so, here’s the key point, vulnerability must always go hand-in-hand with accountability. If it doesn’t have accountability to it, it’s called whining and moaning.
09:53 Beau Henderson: There you go, okay.
09:54 Dov Baron: Right. So, vulnerability has some accountability. So the person would say… And he did, he says, “And here’s what I’m doing about it. My wife and I have just started some sessions, we’re gonna start working together with a couple’s therapist. I really wanna be in this marriage. I love her. I realized I’ve not been as available as I need to be. But I want you to know, I’m actually active in doing something about this. And what’s more, if I’m pissy with you, as a colleague, I want you to call me out.” That was phenomenal, immediately everybody comes around the guy, immediately everybody wants to work harder for him, and everybody wants to reach the outcomes that they’re reaching together ’cause they’re on the same team.
10:33 Beau Henderson: Well isn’t it the best, just idea, to let people… ‘Cause if we don’t tell them what’s really going on, they’re gonna make up a story anyway, and there’s a chance they could make up a worse story than the truth about why things are off or why we might not be where we need to be.
10:50 Dov Baron: You nailed it. You absolutely nailed it. The truth of the fact here is, human beings love to make shit up, we do.
10:56 Dov Baron: We love to make shit up. So, knowing that, you can… That whole process will undermine everything you’re doing. So, knowing that there are people who make stuff up, is to get ahead of that, absolutely get ahead of it. And just say, “Here’s what’s really going on. You can make up whatever you want, but here’s the facts.” And then they go, “Oh, okay. I kinda thought I’d made up that you were upset with me. I made up that I didn’t do the job right.” “No, no, it’s got nothing to do to you.” “Oh, okay, good.”
11:26 Beau Henderson: In this, I’m just wanna drive this point home because it just applies to everybody, this same principle, it’s the CEO with this company, it’s the business owner with his partner, it’s the spouse with their partner, it’s the parent with the child, it’s the same, same concept.
11:42 Dov Baron: You got it. Absolutely, as I said to you before we went on air, every… I work with CEOs, CFOs, all these top people, top entrepreneurs, I work with entrepreneurs, I work with athletes, I work with all kinds of people, and when I say, “All the time.” I am… I’m officially, I’m a business mentor, that’s what I do one-on-one with my clients. But the truth is, if our work doesn’t impact every other area of your life, I haven’t done the job. Because the truth of the matter is, we used to have this crazy illusion that you gotta create, and people would even say the words, you’ve gotta separate work, from home, and I’d say, “Why would you do that? Aren’t you in all of those things? Aren’t you the common denominator?” It’s not about separating work, from home. It’s about making sure you are present in both, fully present in both. Therefore the work that I’m doing with a person when I’m working one-on-one with them, that should impact their business phenomenally but it should equally impact their relationship with their children or with their partner or whatever it is, at every level.
12:46 Dov Baron: I was working with a big entrepreneur today, this morning, great guy. I’ve been working with him now for a few months and he said to me, “You know, I gotta tell you, I have a different marriage. This is a different marriage than I had just two months ago.” and he goes, “And we haven’t even spoken about my marriage.”
13:06 Beau Henderson: That’s funny.
13:07 Dov Baron: To me, that’s beautiful. That’s what the work is, because you can’t separate yourself. It’s an illusion. You’re going into it… If you’re separating yourself, work, from home, then you’re playing two characters. Which one’s real?
13:19 Beau Henderson: Now, I see that, so this philosophy or this idea of vulnerability being one of these keys that’s pulled out here. They can just change an organization, change a relationship. Now, is there a difference in once you go in between getting buy-in to the idea, and then actually how do we integrate this thing?
13:41 Dov Baron: Well, we do teach specific strategies for how to do it, and you’re absolutely right because I can get that buy-in very quickly from somebody who is 35 and under.
13:52 Beau Henderson: Right, then you get…
13:52 Dov Baron: Because they’re millennials and they have a different mindset.
13:54 Beau Henderson: Right.
13:55 Dov Baron: They were not conditioned the way Gen Xers and baby boomers were which is that vulnerability is weakness. In fact, millennials see vulnerability as strength. Millennials will leave your company to go work for a new company where they feel like they’ll be heard, in a flash. So, what I say, the buy-in piece is this, when I left school, when I was going to work, I was asked, “What do you wanna do for a career?” Most people in my age bracket were asked that question. That was a 20 to 40 year question. We were gonna go into a career for 20, 40 years. Ask a millennial that today, it’s a four year question. Millennials change careers every four years, change jobs every 1.2 to 2.4 years. You cannot get your ROI out of somebody who’s working for you if they’re gone within 1.2 years because you’re spending 1.5 to two times their salary in developing them.
14:53 Dov Baron: So, before you’ve even got your return, they’ve already gone out of the door. If you don’t buy into this, you’re losing money on one level. That’s just one level. Here’s the other level, the people who are loyal to you, you’re not spending the money on their development because you have to spend it on re-training new people to come in. So, it’s devastating to your business. And so at that point, they go, “Okay. I can’t argue with the numbers. I gotta face the fact.” And is it gonna make a baby boomer or gen Xer uncomfortable? Absolutely. Will you get over it? Absolutely. Will it massively positively impact your business? Absolutely, and every other area of your life.
15:31 Beau Henderson: Well, let’s talk about that. I think that might be a valuable thing and you’re the perfect person to ask Dov, is, what are some characteristics people might not know but they should know between these generations that are kind of mingling now out in the workforce?
15:46 Dov Baron: Well, as of 2015, the largest number of people entering the workforce are millennials, and they are out-pacing baby boomers, and they’re looking to… They’ll be the largest member of the workforce by, they’re already coming in at the largest number, and five years from now, they will be the largest number. So, baby boomers who are saying, “Well, I don’t care about those guys. I don’t have to deal with them.” They’re coming, mate. At 35, at the top end of, they’re new leaders already.
16:14 Beau Henderson: Wow.
16:15 Dov Baron: So, you’ve gotta understand what motivates them is different than what motivated boomers. Boomers were motivated by the corner office. We were motivated by a bigger house, a bigger car, bigger things to show off, the corner office, the chance to climb the corporate ladder. Millennials are driven by very different things, indeed. For them, they wanna be part of a community. They wanna collaborate. They wanna co-operate. They want to know that you are contributing to something. They wanna be part of something that’s bigger. So, number one for them is that they are purpose driven. They’re looking to be part of something that is bigger than them. A lot of baby boomers look at millennials and think that they’re entitled, and that’s a mindset problem, not because millennials are entitled, but the mindset of the boomer that they’re entitled. What I mean by that is, they learn much faster.
17:14 Dov Baron: When I started into the work force, back in those days, it took a pilot two years in the air force to learn how to fly a fighter plane. In the end of 1990s because of games, you started using your thumbs for stuff, they could do that two year training in eight weeks. Eight weeks! That was at the end of the ’90s. Now, look at how much more gamified we are, how much more this… The millennials are the extreme screen time generation. Their learning speed is so much faster than it was for a baby boomer or gen Xer. It’s not that they’re entitled, they’re just bored faster and they’re not willing to spend 10 years to get to something. They wanna get mastery and they wanna get it fast, because, you know my wife’s like this. I say to her, “How do you do this?” “I don’t know. Go on YouTube and find out.” And she does, she goes on YouTube and finds out. And that’s how they are. When I employ a millennial I don’t wanna give them ‘A job’. I want to give them three different things for them to do that require three different types of learning, ’cause that keeps them engaged.
18:24 Beau Henderson: I got it. So that’s the big… I’ve heard that and I’ve even been guilty, I’m gonna have to admit on this radio show, of accusing millennials of having that idea of ‘They deserve it now’, but what you’re saying makes a lot of sense. They’ve grown up in an instant gratification world, where they’re just learning and they’re accomplishing things a lot quicker.
18:49 Dov Baron: Yeah, but you see hold on a second. Let’s just completely collapse the myth.
18:53 Beau Henderson: Okay.
18:53 Dov Baron: Because if they’re entitled, then they’re selfish little snots, and that’s the mindset that we’ve kind of got for them.
19:00 Beau Henderson: Right.
19:00 Dov Baron: Okay, well let’s check if it’s true. Millennials are the generation who volunteer more of their time than any previous generation. That doesn’t seem very entitled to me. Maybe I’m insane.
19:12 Beau Henderson: Doesn’t sound congruent with that idea.
19:14 Dov Baron: Exactly. So, obviously we’re off. They volunteer more time. They create open source, they’ll go and work another 20 hours a week, creating open source things that are out in the world that they get no… Not even any pat on the back for. They’re just part of something. They volunteer their time to support the local families, or children, or whatever it is. This is not entitlement. They want to be part of something bigger. They want to be part of something that matters. They care about the environment, they care about the world, they care about things other than money. They care about money but only to a point. They care about people and relationships, and all those things.
19:56 Dov Baron: Now the way they do it, that’s different than the way Gen Xers and boomers did it, but let’s get out of this mindset that they’re entitled because they’re not. It’s a different world. They’re looking at it from a very different place. They want different things than we do and that’s okay. We gotta learn to embrace that.
20:12 Beau Henderson: And the key it seems is to get these generations actually… I go back to almost, like a couple. If I understand you better and you understand me better, we’re probably going to have a lot better relationship and accomplish more.
20:26 Dov Baron: Well we’re going to do a lot better in that relationship if I stop making shit up about you, and I actually find out. A number of people like to do that.
20:31 Beau Henderson: That’s right.
20:32 Dov Baron: Actually find out, instead of making up that they’re entitled. Why don’t you actually find out what drives them? If you’ve got millennials working for you, I wonder how many times you’ve actually sat down and instead of telling, asked? Instead of telling them what they’re doing wrong or telling them where they should be going, “No, you should put more time in. You should do more this.” Why don’t you ask? Ask them what matters most to them. Ask them what drives them. What is it that gets them out of bed in the morning? What is it that, if they could do, if money was not a problem, what is it they would do everyday? You will be surprised ’cause it isn’t play video games like you think it is. They are driven by purpose.
21:13 Beau Henderson: As I’m thinking through this conversation we’re having, Dov, I’m wondering if, why you see some smart businesses out there really leading with their mission and that thing that’s bigger than them in the world, maybe they’ve got this idea.
21:27 Dov Baron: Well, here’s the thing. This is not new, it’s just more dominant than it’s ever been.
21:33 Beau Henderson: Okay.
21:35 Dov Baron: Sorry, I just had a little blank little there, what is it? Cranial flatulence.
21:39 Dov Baron: I had a brain fart, and I’ve forgotten the name of the book. It’ll come to me in a minute. Jim Collins, and it’s not “Good to Great”, the one that came after. It’ll come to me in a moment. He did great research in that book, and he showed that 83% of the organizations that were in the Fortune 500 were gone within 30 years. Why? Why were they gone? And what was the distinction between the ones that were still left? And the answer was purpose, not mission. Mission statement, that piece of crap you got on the wall, I guarantee you nobody remembers it. How do I know? We flew into the UK, we were working with this global company, they brought us in. We had their nine top leaders in the room, and I’d privately been working with the CEO.
22:23 Dov Baron: And I said to the CEO, “You can’t answer this question. Let’s get the other people.” And he goes, “Okay.” So I say to them, “Tell me the mission statement.” And we’re going around one after the other, and as everyone answers I look back at the CEO and I can see smoke coming out of his ears. He’s furious! And we get back to the end and I go, “Now you can say.” And he wants to go off, he wants… And I say, “Woah, stop. Just tell us what the mission statement is.” He tells us what it is. I said, “Now, why don’t they know?” And he goes, “I don’t know. It’s outrageous. These are the top people in the world for this company.” And I said, “Yeah, you know why they don’t know?” And he goes, “No.” I said, “‘Cause it doesn’t matter.”
23:01 Dov Baron: And he goes, “Of course it matters.” I go, “No, it doesn’t.” And he goes, “Of course it matters. This is our company mission statement.” I said, “It doesn’t matter. How do I know? Because they don’t remember it. Because it’s a mission statement, it’s not a purpose statement and there’s a vast difference. In a purpose driven organization, I’m emotionally bonded to that, and driven by that. It gets me out of bed in the morning. It makes me stay late. It makes me get there early and it makes me not bitch, moan, and complain about the hours that I’m working, because I’m working for something bigger than a job or a paycheck.”
23:34 Beau Henderson: Now how do we go about that idea of changing a mission statement to a purpose statement? Because I think I was using them interchangeably almost.
23:43 Dov Baron: Sure and you’re absolutely right, Beau, that is exactly what happens for most people. They say, “Oh, we’ve got our purpose.” And I go, “Really? Tell me what it is.” And invariably, they don’t. So, one of the things we actually when we go into companies, as I said we work with these leadership teams, and we design a corporate culture that creates fierce loyalty with Full Monty leadership. And part of that focus is to drive the purpose, find out what the purpose is. So here’s the thing, I can put it forward to you right now. You have a company, right?
24:09 Beau Henderson: Yes.
24:10 Dov Baron: Right. So, let me ask you. Do you know what your purpose is?
24:15 Beau Henderson: The purpose that I’ve stated is, that our purpose is to educate one million high school and middle school kids in the United States. That’s why we do what we do.
24:28 Dov Baron: Stop, you kind of were there but you lost it. So that wasn’t a purpose statement, that was a goal.
24:34 Beau Henderson: Okay.
24:35 Dov Baron: Right? ‘Cause you said, “Our goal is to.”
24:38 Beau Henderson: I did.
24:39 Dov Baron: So that’s not a purpose. So my question to you is, “Why? Why do you have that goal?”
24:47 Beau Henderson: I have that goal because over 15 years I’ve seen people come in to my office and been in various stages of bad situations, because they were never… Had financial literacy growing up.
25:02 Dov Baron: Why does that matter? Why does that matter to you? Why does that… Why does that set you on fire to have people have financial literacy?
25:12 Beau Henderson: The… Why it sets me on fire is I thought back about best selling books, radio shows, building a big business, all these things. If I look back one day and realized I might have changed the cycle of… We’re four generations and Dov… Of kids having more debt, and less savings than their parents. And if I might’ve sparked a couple of those kids to turn that cycle around, then that’s what lights me up.
25:40 Dov Baron: That’s great, we’re almost there.
25:42 Beau Henderson: Okay.
25:42 Dov Baron: And now tell me why that matters?
25:45 Beau Henderson: Okay, if…
25:46 Dov Baron: Why does… No, Im gonna stop you.
25:48 Beau Henderson: Okay.
25:48 Dov Baron: I’m going to ask you to do something.
25:49 Beau Henderson: Sure.
25:50 Dov Baron: Right here on the radio.
25:51 Beau Henderson: Alright.
25:52 Dov Baron: I’m gonna ask you to be vulnerable.
25:53 Beau Henderson: Okay.
25:54 Dov Baron: Why does that matter to you Beau?
26:02 Beau Henderson: I believe that… I believe the world’s gonna be worse off if it continues in the direction it’s heading. And I might have some inform… I might have… I might be able to do something to help.
26:15 Dov Baron: Come on Beau, be vulnerable. Why does it matter to you? Underline the word ‘You.’ Why do you give a shit? Why do you care? Why does it hit you?
26:29 Beau Henderson: I want to have… I want to… Why it matters to me is I realize that of all the things I do, I wanna have some kind of legacy or something that outlasts me.
26:41 Dov Baron: Okay. Why does that matter to you? We’re getting there.
26:45 Dov Baron: Hope everybody’s listening and taking notes and following this track, ’cause you can do this yourself, following this path. I’m walking you through a very powerful process here. See what I want you to do, I’m gonna sort of jump ahead a little bit Beau.
26:58 Beau Henderson: Sure.
27:00 Dov Baron: If you dig deep enough you’ll find that you’re trying to court… You’re trying to heal a pain.
27:05 Beau Henderson: Mm-hmm.
27:05 Dov Baron: There’s something within you. Not… You see, everything you’re referring to is external.
27:10 Beau Henderson: Right.
27:11 Dov Baron: I want you to go internal. I want you to be vulnerable and be honest with yourself and go, “Because when I was a kid… Or because when this happened when I was 20… Or when I got divorced… ” Or whatever it is. What is the pain it hits for you?
27:25 Beau Henderson: Okay, you got me. I got you. I know where we are. Yeah, no, it’s my passion for this business before the whole… The financial literacy idea that lights me up, was I wanted to help people avoid some of the financial difficulties I went through early on… And basically learning the skill set to go into the field of financial planning, was to dig myself out of that.
27:55 Dov Baron: Thank you.
27:56 Beau Henderson: And then that put me on a path to help others with that.
28:00 Dov Baron: So, being vulnerable here because this is actually gonna build your reader… Your listener base because people are gonna get more bonded to you. So you were in financial struggle.
28:09 Beau Henderson: Right.
28:10 Dov Baron: You were having a rough time and you did… Probably didn’t even know you were financially illiterate. And you found a way to, by whatever means, to get some more literacy, and you realized that if you had that information, that knowledge, that wisdom, then you probably in all likelihood wouldn’t have gone down the same path. You wouldn’t have suffered the same amount of pain, and therefore you want to save others from that pain. Is that correct?
28:38 Beau Henderson: That is absolutely correct. That I realized of… That it was all a matter of not doing things bad, or negative or… It’s just not having the right information or education.
28:50 Dov Baron: Now do you see what we just did?
28:52 Beau Henderson: Mm-hmm.
28:53 Dov Baron: We went all the way from this goal/mission, to the emotionally bonded purpose. Because if I say to you now, “Let’s flip it on you, Beau.” And I say, “Okay, so now here Beau, you can go out in the world, and you can… You can talk about this, you can write books about it, you can do your radio show on it, and nobody’s gonna do anything. Nothing’s gonna change.” How do you feel? Nobody’s gonna take any action. How do you feel?
29:18 Beau Henderson: Yeah, not very good.
29:19 Dov Baron: Right. And what’s more is you’re gonna keep bumping into people who are in exactly the space you were in, before you found financial literacy. What’s that gonna feel like? Will it be painful?
29:34 Beau Henderson: No, not if I can help them.
29:36 Dov Baron: No, no. That’s what I’m saying.
29:37 Beau Henderson: Okay.
29:38 Dov Baron: If you bump into those people and they haven’t used anything you gave, and they’re still in financial illiteracy, is that gonna be painful for you?
29:49 Beau Henderson: Yes.
29:50 Dov Baron: Of course it is. So you get that what’s really driving it, is to make sure that people shift and change and don’t suffer the pain you did. You see, when we take ownership of a personal level, everything transforms. Otherwise it’s just a head job. It’s just stuff we’re coming at with our head. I want to increase financial literacy. So what? Who cares? Well, I see that they were going down the drain and this is the fourth generation of people not doing as well as the generation before. So what? Who cares?
30:23 Beau Henderson: It’s a nice statistic, but then you help me get to clear now maybe, I wanna help people avoid the guilt and shame that comes with financial disaster.
30:31 Dov Baron: Thank you!
30:31 Beau Henderson: How about that?
30:32 Dov Baron: Now we nailed it. Give the man a round of applause.
30:35 Beau Henderson: See listeners, this is how I get a $5000 coaching session absolutely free just by bringing amazing guests on The RichLife Show.
30:42 Dov Baron: That’s exactly what it is. That’s exactly what it is. You see? So you get to that and you go, “Okay, I just don’t want anybody… ” That’s why I was pushing you before, “I don’t want anybody to feel the guilt and the shame of feeling like a financial screw up when it’s really not necessary.”
30:56 Beau Henderson: Right.
30:57 Dov Baron: Okay. All the numbers and yes and… Who cares? This is the stuff that gets you out of bed in the morning.
31:04 Beau Henderson: Very cool. See? We got to show vulnerability coaching in action. I love it.
31:11 Dov Baron: You got to see what the power of vulnerability that drives you back to your own purpose and when you get to that, that translates into a corporate purpose and then, here’s what we do, we drive the corporate purpose from that place and then we tie every team member into their connection to it. And when that happens, honestly it transforms. I was just working with a team last week and we’ve been working, this was… We’re just on the year working with them. And they were all saying the same thing about how it’s transformed their family and how they relate to their kids and all the rest of it.
31:45 Dov Baron: But one of the guys, it was funny, he was one of the partners that, nobody knew what was going on but we worked it out in the first hour. And I went back to the CEO. I said, “Do you know that one of your partners has got a foot out of the door?” And he goes, “No.” And I said, “I’m gonna tell you who it is ’cause I have his permission, but he had a foot out of the door. Why don’t you know that?” And he was shocked. And we were in this meeting this week and he points to this guy and he goes, “There’s no bigger, no bigger champion for the team than this guy now.” He is so in there.
32:15 Beau Henderson: Wow.
32:15 Dov Baron: Because now he’s emotionally connected. Now he’s purpose driven. And now he gets the purpose of their company and his purpose is directly tied to it. It’s a vehicle for him fulfilling his purpose. When you have a company that is purpose-driven, where the people who work there tie their purpose to the purpose of the organization, they are fiercely loyal.
32:36 Beau Henderson: They… Build to last. Is that it?
32:38 Dov Baron: That’s the one. Thank you! Thank you for clearing me of my cranial flatulence.
32:43 Beau Henderson: No what’s funny is I looked over and it’s on the book shelf, so that’s funny.
32:48 Dov Baron: How perfect.
32:49 Beau Henderson: So hey Dov, if anybody wants to dig deeper, you’ve shared so much today and find out more about success, being successful with this leadership and business and even what we talked about today, you could study leadership just to be more successful in your day to day life. Period.
33:06 Dov Baron: Yeah and you see, and people, you should know that leadership is a skill that we all need. It doesn’t matter whether you have an organization or not. If you’re a parent in a family, you are a leader. Because people are learning from you every single day. And by the way it isn’t by what you say ’cause your kids don’t give a crap about what you’re saying. They are actually paying attention to what you’re doing. That’s what they’re really paying attention to. It’s like that couple who say, “Well we don’t fight in front of the kids.” And they actually think the kids don’t know? Of course the kids know. They’re paying attention to those looks and those movements and how you’re interacting with each other. So you are a leader by example every single day of your life, and you need to embrace leadership principles. Don’t think of it as business. Although it translates to business, it’s not just that.
33:52 Dov Baron: You wanna know more about that, know how to get to where you wanna go if you really, and I mean this, if you are committed to taking your life beyond where it is, ’cause my job as a mentor is to help you create a vision of yourself that’s beyond anything you’ve previously imagined. And then I will go in the corner and fight for it with you in a way that you’ve never had before. You can find out more about me and my organization at fullmontyleadership.com. Like we said before it’s like the movie, fullmontyleadership.com. You can find my book “Fiercely Loyal”, on Amazon. You can also find it at fiercelyloyalbook.com where you actually can get a free infographic on how to bond people to you. That’s there too. And also I have a podcast as well. You could find it on iTunes and it’s called ‘Leadership and Loyalty Tips for Executives’. But you know what? It’s for everybody.
34:44 Beau Henderson: There you go. I like it. So Dov, thanks again so much. I think you’ve given us all, some things that we can think about and even maybe go and implement today if we choose. And thank you for helping me with the purpose statement there. That was very powerful.
34:58 Dov Baron: Well thank you sir, it’s been an honor to be here with you. I appreciate your vulnerability, your courage, and your strength. And again I wanna thank everybody for tuning in and I really hope that you’ll listen to the show more than once, take notes, and learn from it. And Beau makes the effort to bring you on great guests. Don’t waste that by playing it in the background while you’re checking emails. Take notes, listen back, two, three times. And then go on iTunes, rate and review the show. Keep people knowing about what Beau is doing here. It makes a difference.
35:25 Beau Henderson: Thank you so much Dov. I hope we can have another conversation about what’s… What’s going on. I know we hit on just a… Scraped the surface on things that we could really dive into today.
35:35 Dov Baron: My pleasure my friend. I look forward to it.
35:37 Beau Henderson: Take care. Thank you.
35:38 Dov Baron: Bye-bye.
ABOUT DOV BARON:
Dov Baron was named by Inc Magazine as one of the Top 100 Leadership Speakers to hire. He is the leading authority on Authentic Leadership, or as he calls is “Full Monty Leadership”. He is the world’s only Corporate Cultural momentum Strategist. He works with leaders and executive teams in building the bonds that create a corporate culture that becomes Fiercely loyal.
Dov is a bestselling author of several books and his latest book is titled: “Fiercely Loyal” How high performing companies develop and retain top talent. Dov also writes for many industry magazine including; CEO magazine and Entrepreneur Magazine.
Between 2010 & 2013 he was the host and executive producer of the popular radio show “The Full Monty Leadership Show”. His radio show and podcasts have had over one million downloads. His current podcast “Leadership & Loyalty Tips for Executives” is the #1 podcast for Fortune 500 Executives.