Peter Wallace #leadership tips

Peter Wallace, Managing Director @ Endeavour Capital

Peter Wallace, Managing Director @ Endeavour Capital

Peter has a mind that seems to instantly remove the noise from complex problems. I've sought Peter's advice on many occasions and like a great leader, he takes the time to listen, digest and then offers up pearls of wisdom. Not necessarily what I should do, but often a different perspective or approach I'd not previously considered an option. Thanks for coming on #leadership tips Peter!

Who is the best boss you've had and why?

Initially in professional services and then in non-executive director roles, I have observed that the best bosses are those that can develop the best team and get the best out of them. It is about the team performance, not them. I have also witnessed more than my share of bad bosses who get temperamental and lash out, play favourites, can't delegate and avoid responsibility.

What are your top 3 tips for being a better leader?

1. The role of a CEO is to be the chief salesperson, the chief strategist and the chief team builder. If you are mostly spending your time on other things then you are not doing your job.

2. There is no one method of leadership. We are all different people and at times different approaches are required. For aspiring leaders, I would network with and observe other leaders, what do they do well and what do you disagree with. Develop your own style, do not just mimic someone else.

3. There are times when tough, unpopular decisions have to be made. Too many leaders want to be liked and wait too long, then once the decision is made employees ask why did you take so long.

What conventional corporate wisdom no longer applies in today's workplace?

The command and control method of management has run its course. As machines have taken over the mundane tasks, successful organisations are now based on the talent of the staff.

Workplaces are changing, I predict...

Employees treating themselves as pseudo freelancers, whether that is with one company (as an employee or contractor) or with a series of clients. That is not to say everyone will be a traditional freelancer. The younger generation will only stay with an employer whilst the company meets their immediate needs. There will be more frequent changing of jobs and careers. The skills required for managers now will be attraction and retention of impressive people. They will also be required to bring people up to speed quickly and cheaply, as the employment horizon shortens.