Sandy Weill is a banker and Wall Street dealmaker. He is also a financier and philanthropist. His successful career fascinates us and we can definitely learn some enriching lessons from Sandy Weill.
1. Sandy Weill said that there is something more important than market risk and credit risk. That thing is reputational risk. Success of a company depends largely on its reputation. Money can be made again if lost but reputation takes enormous time to build and only a minute to ruin. Reputation matters more than anything else and a company must put all its efforts to safeguard its reputation.
2. Sandy Weill believed in the team spirit. He said that it is very good to be a team player. A person who is a part of a team is patient, calm and composed. People who work in teams generally emerge as winners.
3. Sandy Weill said that if we want to be successful, we should never have the fear of making mistakes. Until and unless a person makes a mistake, he is not able to grow and understand what is right. Mistake is the process of learning how to make the correct decisions. Sometimes, it is important to take risks. The person who plays too safe in life cannot achieve success.
4. Sandy Weill said that we should never feel intimidated to hire someone who is smarter than us. Hiring smarter employees means that our company would prosper more. Sandy Weill had always hired people who are equally smart or smarter than him. This played a major role in his success.
5. Sandy Weill said that we should never do something which we don’t understand completely. In order to achieve success, we should take only those projects, of which we have full knowledge and understanding. Working on something that we hardly understand can not only give rise to failures but can also lower our self-esteem.
6. Sandy Weill believed that whatever a person does, he must be passionate about it. Being passionate and dedicated to one’s work can give mental peace, happiness and success. He said that it is also necessary to have a great sense of humor as humor lightens tough situations.
7. Sandy Weill believed in the power of consistency. He said that in order to be successful, it is important to make long lasting commitments to our goals and ambitions.
These 7 beliefs of Sandy Weill must be followed to attain the maximum amount of success. The principles are easy, helpful and extremely enriching.