Lessons on Leadership from My Father: Episode 1 of Realistic CEO Podcast
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Hello, everyone! Welcome to the Realistic CEO Podcast, and I’m your host, Mychal Connolly Jr. This is my very first podcast episode, and I couldn’t think of a better first guest than my own dad, Mychal Connolly Sr. He’s been a huge inspiration to me, and today’s episode is packed with valuable insights on what it takes to become a CEO. Let’s dive into what I learned from him.
How Do You Decide What Goals to Focus On?
One of the first questions I asked my dad was about deciding which goals to focus on within a company. He emphasized that a CEO must keep the business moving towards its goals, even when the direction may change due to the ups and downs. He said, “The CEO is the person in charge of executing the plan... like the captain keeping the ship moving in the right direction.” It was clear that focus and adaptation are key components for successful leadership.
Important Qualities for Aspiring CEOs
When I asked my dad about the most important qualities for someone my age to develop, he listed stick-to-itiveness, great communication skills, and time management as essential attributes. “Being able to execute at a high level, even when things are rocky, makes a great CEO,” he explained. He also emphasized the importance of team-building skills and creating a five-star experience for clients, employees, and vendors.
Parallels Between Sports and Business
The connection between sports and business was an unexpected yet fascinating topic. We discussed how qualities like confidence, practice, and a good team around you – essential for hitting clutch free throws in a game – are also crucial for a CEO. “There are so many parallels to sports and business... It's all about execution,” my dad noted.
Learning Outside of Sports
For those who don’t play sports, my dad suggested finding other team activities and emphasized the importance of learning from great CEOs of the past through reading and online resources. “You can have a conversation with Steve Jobs or Walt Disney through their books,” he said. This knowledge helps in understanding the challenges they faced and applying those lessons to one’s own journey.
Applying Skills in Everyday Life
My dad highlighted the importance of discipline and preparation in everyday life to prepare for future success. He pointed out that daily school activities, like getting up early and completing homework with dedication, mirror the discipline needed to run a successful business. Treating classmates with respect and learning to build diverse teams are also crucial skills.
Why Teamwork Matters
We then dove into why teamwork is so important in building a business. My dad explained that no successful company is built by one person. “You always want to build a business that can function without you... building a team of people better than you at certain tasks is essential,” he shared. This approach ensures the longevity and sustainability of the business.
Motivation Behind Starting a Business
Understanding my dad’s motivation for starting his businesses brought a personal touch to our conversation. He shared, “I do it for you guys... I want to teach you how it works so you can understand it.” He also talked about his dream of starting a foundation to help others pursue their dreams with both financial support and valuable knowledge.
The Importance of a Dream Environment
Creating a dream environment is vital for success, as it enables individuals to visualize and strive for their goals. My dad stressed that everything starts in the mind and that a supportive environment encourages imagination and ambition. He shared an anecdote about how my teacher once doubted my dream of becoming a CEO, but my family’s belief in me kept my dream alive.
Handling No’s and Staying Positive
Facing rejection can be challenging, but my dad’s advice on maintaining a positive mindset was enlightening. He emphasized the importance of having thick skin and determination. “No just means the next opportunity,” he said. Developing a “duck back” – letting no’s roll off like water off a duck’s back – was another piece of advice that will stick with me.
Recommended Books for Aspiring CEOs
For those looking to become CEOs, my dad recommended several books that have been influential to him. Among these are “Think and Grow Rich” by Napoleon Hill, “The Art of Money Getting” by P.T. Barnum, “Rich Dad Poor Dad” by Robert Kiyosaki, and “Shoe Dog” by Phil Knight. Reading autobiographies and biographies of successful CEOs helps in understanding their journeys and the common themes in their stories.
Balancing Business and Family
Finding the balance between work and family is crucial. My dad introduced me to his GSD (Get Stuff Done) formula, which prioritizes income-producing activities, potential income-producing activities, necessary business tasks, and activities he loves, like spending time with family. This balance is essential for maintaining both a successful business and a happy family life.
Final Thoughts
This first episode of the Realistic CEO Podcast has been an incredible learning experience for me. Interviewing my dad provided me with invaluable insights into what it takes to become a successful CEO. From setting goals and building teams to maintaining a positive mindset and balancing work with family, every piece of advice is a stepping stone on my path to success.
Thank you, Dad, for being my first guest and for all the wisdom you’ve shared. I’m excited for what’s to come and can’t wait to share more valuable lessons with all of you. Stay tuned for more episodes!
If you’re interested in being interviewed on the podcast, feel free to contact me. Thank you for your support and for joining me on this journey!
Best,
Mikey Connolly Jr.
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