Lesson 14: Communication

Communication is the key to any relationship. Whether you have been married for 40 years or have served as CEO of a company with thousands of people, you must communicate effectively. To do this well, start with gratitude.

I started handwriting thank-you notes when Mr. Quillian, one of my mentors from my days as a Boy Scout, recommended it. I ordered personalized stationery to send handwritten thank you notes to show gratitude for the people I have met. When someone opens their mailbox to find my letter, I hope it communicates a genuine appreciation of our relationship.

This week, I attended the Toigo Gala in New York and one of the speakers talked about the importance of communication: James Rhee, founder of red helicopter, spoke about his experience as first-time CEO of Ashley Stewart. The company had filed for bankruptcy twice and was quickly running out of cash, plus James, a Korean American, would need to garner the support of over 1,000 employees, the majority of whom were Black women. To establish relationships across cultures and geographies, he spent the first 6 months as CEO mainly working in the stores side-by-side with other employees. He asked people, “How would you improve the company?” By being visible and offering direct access to the CEO, he could listen to employees and communicate his vision for success. This ultimately created goodwill across the entire workforce.

Establishing goodwill as a first-time CEO is one of their most urgent and important responsibilities. When I become a CEO, it will take effective communication with customers, employees, vendors, and investors. I must demonstrate my appreciation for each role these people play to create value for the business. James explained that years passed before the goodwill established across the workforce translated into investors writing a check valuing the company at over $100 million.

My values are to act with love, humility, and wisdom; communicating in a loving way is a winning strategy as a leader. During my time at business school, I will learn about accounting, operations, strategy, and other technical skills for running a company. The key to effectively using each of these skills is communicating with stakeholders my gratitude for their commitment to our work. 

Communication is Lesson 14. Next week, I will share Lesson 15: Diligence.