One of the more interesting sessions that I attended was the one led by Mr. David Blood, of Generation Investment Management. Mr. Blood has a long and storied past in the Investment Banking industry, having spent the bulk of his professional career at Goldman-Sachs. According to Blood, he sort of fell into his first position at the firm, gradually rising to the position of CEO of Goldman-Sachs Asset Management. He watched the evolution of today’s economy through its ups and downs. In 2003, having realized that his path at Goldman-Sachs had reached its logical conclusion, he retired from the firm in order to forge his own identity in the asset management field. And what an identity he has created.
Through a series of serendipitous events he met and befriended former Vice-President Al Gore, whose most recent exploits in the Sustainability Industry are obviously well-documented. What came of these early meetings was a recognition of a common purpose, that of developing sustainable business through responsible investment. This recognition, that a) there is a market demand for such investing practices and b) creating a truly green economy requires the nurturing of sustainable businesses, led Blood and Gore to found Generation Investment Management, a firm with a strong mandate of poverty alleviation.
Ironically, the entire 1 ¼ hour long session can be boiled down into 5 key career observations that Blood developed over the course of his professional life:
- Hard work matters
- Keep your values, sacrificing advancement when the path toward it compromises your identity
- Humility is a fundamental necessity, as luck plays a significant role in life, whether it be professionally or personally
- A career is a marathon
- You can accomplish a lot if you don’t care who gets the credit
It’s this last point that I believe is essential to business leaders. There is a tremendous amount of ego and pride that contributes to an individual’s pursuit of professional and personal success. Being able to say ‘I did this’ can be both satisfying and addictive. Blood’s final observation, however, suggests that true leaders recognize the value in placing the goals of an organization ahead of those of the individual. And when those goals represent a positive social interest there is an inherent need for leaders to take a step back and truly analyze what matters most: their personal pride or the advancement of a common good. Ultimately, who gets the credit is irrelevant if the end result is that one more person will have a better life today and tomorrow. The real leaders will choose the common good every time.
