PPB December 2019

I had an interesting conversation with a venture capitalist. We were discussing the qualities the VC looks for when thinking of buying a company. I was expecting to hear words like “profitability” and “growth potential.” But instead, the VC put self-awareness and coachability at the top of the list. I was surprised but probably shouldn’t have been. I’ve worked with hundreds of leaders—in hospitals, on baseball fields, in government offices, in hotels, stores and restaurants—and have seen organizations that focus on these two qualities tend to be strong, innovative and profitable. It makes sense. Today’s business environment requires us to adapt quickly and relentlessly. That means leaders must not only be great at what they do, they must also be great learners. This mindset—which is connected to humility—requires that leaders “know what they don’t know” and be willing to work on their shortcomings. When we know what we need to improve on, we’re more likely to seek the help of others who Why venture capitalists look for these qualities among business owners and how to nurture these qualities to transform your company. by Quint Studer Self-Awareness And Coachability: The Two Most Important Leadership Traits 94 | DECEMBER 2019 | THINK