Leading with Emotional Intelligence: Hands-On ... - always yours

30 LEADING WITH EMOTIONAL INTELLIGENCE
Buffett checks in just once a year with each company he has
major ownership in and otherwise lets managers do what they do
best while he suppresses the urge to micro manage the entire operation.
26 (Emotional Self-Control) He does have them update yearly
who their successor would be if something happened to them.
How Warren Buffett treats these managers under his authority
is particularly telling of his leadership prowess. He is a big advocate
of bringing forth a positive attitude from the start and continuing
that with positive reinforcement for those who perform well. An
example of his Inspirational Leadership and Optimism was with
American Express CEO Kenneth Chenault, who had to ask for help
from Buffett when Buffett’s stake in American Express had just
lost $8 billion because of credit losses. Chenault knew that Buffett
would be his “confidence booster.” In the midst of the fi nancial
meltdown, Buffett’s style was unwavering and predictable. Chenault
said Buffett was “objective, direct and he knows what he believes.” 27
(Self-Confidence)
Mary Buffett and David Clark have several bestselling books
about Warren Buffett, including Buffettology, and have chronicled
his “management secrets.” Several other Emotional Intelligence
competencies are also included in the management secrets they
ascribe to him:
• Motivating others to achieve. They describe Buffett’s ability to
motivate others to hit one business home run after another.
(Developing Others, Teamwork and Collaboration)
• Are you a victor or victim? Buffett learned to take control of
his life from his father’s actions in the face of adversity; for
example, in the Great Depression his father started a new
business. (Adaptability)
• The power of honesty. Admitting mistakes is the hallmark of
trustworthiness.
• The power of praise and the dangers of criticism. Buffett
believes leaders should praise by name and never misses