When 99-year-old Charlie Munger died on New Year’s Day, he left behind a legacy of financial success as the longtime business partner of legendary investor Warren Buffett.
Munger was known for providing homespun wisdom in his speeches, interviews, and especially at Berkshire Hathaway annual meetings:
“The big money is not in the buying and the selling… but in the waiting.”
“I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.”
“When you mix raisins and turds, you’ve still got turds.”
One of Munger’s axioms – about the importance of growth over time – popped into my head after a recent coaching meeting: “The first rule of compounding is to never disrupt it unnecessarily.”
My client had asked how he could identify gaps in his leadership style that needed to be filled in order to maximize the final 10 years of his career. After some Q&A aimed at helping him reflect on and self-discover possibilities, I said: “The 33 years you put in so far have combined to make you who you are today. Think of it as compound leadership growth.”
When his eyes lit up, I felt we were on to something. Then we discussed some of the best lessons he’s learned and how he uses those to maximize impact in his VP role.
Think about your career growth. Which good lessons do you carry forward and which bad ones did you leave behind?
